VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 18, 2015) - Aurora Cannabis Inc. (CSE:ACB)(FRANKFURT:21P)(WKN:A1C4WM)(OTC:PSNTF) ("Aurora" or the "Company") is pleased to announce that it has entered into a consulting agreement (the "Agreement") with Electrum Partners, LLC ("Electrum"), an advisory and consulting firm in Las Vegas, Nevada, specializing in the nascent medical marijuana industry in the United States.
Pursuant to the Agreement, Electrum will provide a wide range of consulting and advisory services including, but not limited to: business services, strategic guidance and introductions, mergers and acquisitions, access to capital markets in the United States and other activities to further the business of Aurora. Electrum will also assist in obtaining medical marijuana licensing for the Company and expanding its business to states where cannabis is accepted federally and legal at the state level whether it be recreational or medicinal.
The Agreement has an initial term of four months and is renewable for an additional two 4 month periods for a total term of one year. Under the Agreement, the Company will pay monthly consulting fees of US$17,200 and grant stock options to purchase 300,000 common shares of the Company (the "Options"), which will vest in twelve equal monthly installments over a period of one year. In addition, the Company will grant Electrum stock options ("Bonus Options) to purchase 12,500 common shares of the Company for every performance milestone completed. The Options and Bonus Options shall be exercisable for a period of five years with exercise prices equal to the fair market value of the Company's shares.
"We are privileged to partner with a strong and experienced firm like Electrum, founded and led by Leslie Bocskor. Being from a regulatory environment myself, I can say without a doubt that Mr. Bocskor is one of the most knowledgeable advisors in this space. We look forward to working with him and his team to execute the Company's growth and expansion objectives." stated Terry Booth, CEO of Aurora.
About Electrum:
Electrum Partners offers companies operating within the legal Cannabis Industry a unique array of business services including: strategic and tactical guidance, assistance with capital formation, business development and accretive relationships, support navigating political landscapes and regulatory processes, and providing industry-specific expertise.
Founded by the seasoned investment banker, Leslie Bocskor, with extensive experience in disruptive markets and technologies, Electrum Partners offers its partners access to an unparalleled network at the industries' highest levels in all important verticals.
The Electrum Partners team also publishes the Electrum Report, available at electrumreport.com, a curated service including high-value summaries and links to industry-relevant news. For press inquiries, contact info@electrumpartners.com.
On behalf of the Board of Directors, AURORA CANNABIS INC.
Terry Booth, CEO
Caution Regarding Forward-Looking Information:
Certain statements in this press release constitute "forward looking" statements within the meaning of applicable Canadian securities legislation, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this press release, such statements may use such words as "may," "will," "expect," "believe," "plan" and other similar terminology. These statements include, but are not limited to, the expectation that Aurora will negotiate and settle the terms of the proposed agreement and consummate the proposed agreement generally upon the terms as currently contemplated. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. The forward looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, delays with the negotiation of the terms of the proposed agreement or delays or failure to satisfy the conditions to completion of the proposed agreement, regulatory requirements and other customary conditions. The Company undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law.
The CSE, securities commission or other regulatory authority has not reviewed, approved or disapproved the contents of this press release. We seek Safe Harbour.