TSX: ACB TSXV: RTI
EDMONTON and VANCOUVER, July 31,
2017 /CNW/ - Radient Technologies Inc. ("Radient" or the
"Corporation") (TSXV: RTI) and Aurora Cannabis Inc. ("Aurora")
(TSX: ACB) are pleased to announce that the convertible debenture
issued to Aurora on February 13,
2017, has been converted into 14,285,714 units of Radient
(the "Conversion Units") pursuant to the acceleration provisions
contained therein. Each Conversion Unit consists of one
common share and one common share purchase warrant exercisable
prior to February 13, 2019 for one
additional common share of Radient at an exercise price of
$0.33 per warrant.
Radient will also make the final interest payment of
$41,096 to Aurora through the
issuance of additional 77,540 units to Aurora (the "Interest
Units"). Each Interest Unit consists of one common share and one
common share purchase warrant exercisable prior to February 13, 2019 for one additional common share
of Radient at an exercise price of $0.53 per warrant. The issuance of the
Interest Units to Aurora is subject to final approval of the TSX
Venture Exchange.
Early Warning Disclosure
Radient has been advised by Aurora that prior to the conversion
of the convertible debenture Aurora held 2,777,800 common shares
and 2,777,800 purchase warrants. Radient has been further advised
by Aurora that after giving effect to the conversion, Aurora holds
17,245,221 common shares and 17,245,221 share purchase warrants of
Radient representing approximately 9.6% of the issued and
outstanding common shares, and 17.5% of the issued and outstanding
common shares on a partially diluted basis.
Aurora acquired the securities for investment purposes. Aurora
will evaluate its investment in Radient from time to time and may,
based on such evaluation, market conditions and other
circumstances, increase or decrease shareholdings as circumstances
require through market transactions, private agreements, or
otherwise. A copy of the Early Warning report will be filed by
Aurora in connection with the acquisition and will be available on
Radient's SEDAR profile. In order to obtain a copy of the early
warning report, please contact Nilda
Rivera, Aurora's Controller, at telephone number:
604-362-5207. Aurora's registered office is located at 1500 - 1199
West Hastings St. Vancouver, British
Columbia, V6E 3T5.
About Radient
Radient extracts natural compounds from a range of biological
materials using its proprietary MAPTM natural product
extraction technology platform which provides superior customer
outcomes in terms of ingredient purity, yield, and cost. From its
initial 20,000 square foot manufacturing plant in Edmonton, Alberta, Radient serves market
leaders in industries that include pharmaceutical, food, beverage,
natural health, personal care and biofuel markets. Visit
www.radientinc.com for more information.
About Aurora
Aurora's wholly-owned subsidiary, Aurora Cannabis Enterprises
Inc., is a licensed producer of medical cannabis pursuant to Health
Canada's Access to Cannabis for Medical Purposes Regulations
("ACMPR"). The Company operates a 55,200 square foot,
state-of-the-art production facility in Mountain View County,
Alberta, and is currently
constructing a second 800,000 square foot production facility,
known as "Aurora Sky", at the Edmonton International Airport, and has
acquired, and is undertaking completion of, a third 40,000 square
foot production facility in Pointe-Claire, Quebec, on Montreal's West Island. Aurora
also recently acquired Pedanios GmbH, a leading wholesale importer,
exporter, and distributor of medical cannabis in the European Union
("EU"), based in Berlin,
Germany. In addition, the company is the cornerstone investor
with a 19.9% stake in Cann Group Limited, the only Australian
company licensed to conduct research on and cultivate medical
cannabis, Aurora's common shares trade on the TSX under the symbol
"ACB". Visit www.auroramj.com for more information.
On behalf of the Board of Directors,
RADIENT TECHNOLOGIES INC.
Denis Taschuk, CEO
AURORA CANNABIS INC.
Terry Booth, CEO
Information set forth in this news release contains
forward-looking information and statements that are based on
assumptions as of the date of this news release. These statements
reflect management's current estimates, beliefs, intentions and
expectations. They are not guarantees of future performance. The
terms and phrases "goal", "commitment", "guidance", "expects",
"would", "will", "continuing", "drive", "believes", "indicate",
"look forward", "grow", "outlook", "forecasts", "intend", and
similar terms and phrases are intended to identify these
forward-looking statements. The Corporation cautions that all
forward looking information and statements are inherently uncertain
and that actual performance may be affected by a number of material
factors, many of which are beyond the Corporation's control. Such
factors include, among other things: risks and uncertainties
relating to the Corporation's ability to complete the proposed
shares for debt transaction. Accordingly, actual and future events,
conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the
forward looking information. Except as required under applicable
securities legislation, the Corporation undertakes no obligation to
publicly update or revise forward-looking information.
Neither TSX nor TSX Venture Exchange nor their Regulation
Services Providers (as that term is defined in the policies of the
respective Exchanges) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Radient Technologies Inc.