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  • Post Time Posted June 26, 2018
Aurora Cannabis Inc. announced on Tuesday that it has lined up a debt deal worth a potential $250 million with the Bank of Montreal. 

The deal will provided in a $150 million term loan, and a $50 million revolving credit facility. Both tranches will mature in 2021. Aurora can also request an increase of up to $45 million more to the term loan based on agreement by BMO and recreational cannabis legalization by October.
 
Terry Booth, CEO of Aurora, said in a release that the deal “is by the largest traditional debt facility in the cannabis industry to date.”

It is also a major shift in the cannabis industry, as traditional debt structures have not been attainable from major banks, and so companies have been forced to raise money through share issuance and convertible debentures. 

Source: https://business.financialpost.com/cannabis/aurora-lines-up-250-million-debt-deal-with-bmo-calling-it-largest-in-industry-to-date


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