Earlier today, Aurora Cannabis Inc. (ACBFF) (TSX:ACB) announced that the company would be raising $50 million CAD in a bought deal financing round. As of midday today, Aurora has just announced that they're upsizing the financing round to $60 million CAD.

This new offering amounts to 20,000,000 units, at a price of $3.00 CAD per unit. Each unit will consist of one common share of the Aurora and one common share purchase warrant. Each warrant will be exercisable to acquire one common share for a period of 3 years following the closing date of the offering at an exercise price of $4.00 CAD per share, subject to adjustment in certain events. Aurora has also granted the underwriters an over-allotment option to purchase up to 3,000,000 additional units of the company on the same terms as the offering. If the over-allotment option is exercised in full, the aggregate gross proceeds of the offering will be $69,000,000 CAD, equivalent to roughly $55,149,265 USD.

[from earlier]

Net proceeds from the offering will be used to further Aurora's aggressive strategic growth initiatives including continued domestic and international expansion, and of course for general working capital purposes.

"This financing ensures that we have the financial horsepower we need to keep going at full throttle, and continue seizing and capitalizing on attractive growth opportunities in Canada and around the world," said Terry Booth, CEO. "With Aurora's excellent balance sheet and what we believe is the strongest cash position in the industry, we are ideally positioned to further accelerate our aggressive growth strategy, further expand production capacity, and enter multiple new international markets. Aurora will continue to push the pace, with agility, innovation and disciplined execution, and set the benchmark as a globally dominant cannabis company."