Aurora Cannabis Inc. said Thursday it is investment C$10 million ($7.5 million) in High Tide Inc., an Alberta-based, retail cannabis and lifestyle accessories company. As part of the deal, Aurora will receive 10,000 senior unsecured convertible indentures issued by High Tide and priced at C$1,000 each, with an interest rate of 8.5% a year, and convertible into High Tide stock comprising 13.3 million common shares priced at 75 cents each. High Tide has two wholesale businesses, and 19 retail locations. Aurora's U.S.-listed shares rose 1.8% premarket, but are down 19% in 2018, while the S&P 500 has fallen 0.8%.
-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
December 13, 2018 08:08 ET (13:08 GMT)
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