Aurora Cannabis Inc. (TSXV:ACB) announced that it has entered into an agreement for a private placement on a bought deal basis of 22,500,000 units at CAD 2.25 per unit for gross proceeds of CAD 50,625,000 on January 24, 2017. The transaction will include participation from accredited investors and qualified institutional investors from United States. Each unit will comprise of one common share and one-half warrant. Each warrant will entitle the holder to acquire one common share at CAD 3 per share for a period of two years. The warrants will be subject to a forced exercise provision if the company's daily volume weighted average share price on the TSX Venture Exchange is greater than CAD 4.50 for 10 consecutive trading days. The transaction is expected to close on or about February 23, 2017.