Aurora Cannabis Issues Release Confirming Earlier Reports; Co. Announces CEO Retirement And Succession, Board Of Directors Expansion, And Business Transformation Plan

Releases Preliminary Results for the Second Fiscal Quarter Ended December 31, 2019 Aurora Cannabis Founder & CEO, Terry Booth, announces retirement and succession plan and expansion of the Board of Directors

Benzinga · 02/06/2020 21:39

Releases Preliminary Results for the Second Fiscal Quarter Ended December 31, 2019

  • Aurora Cannabis Founder & CEO, Terry Booth, announces retirement and succession plan and expansion of the Board of Directors
  • Executive Chairman Michael Singer has been appointed Interim CEO, effective immediately; search for permanent successor underway
  • Two new Independent Directors to join the Board for a total of 10 directors, including 7 Independents
  • Announces comprehensive transformation plan to significantly reduce the Company's expense base, rationalize capital expenditures, and better align its balance sheet with current market conditions
  • Secures credit facility amendments that remove EBITDA ratio covenants and provide additional financial flexibility as Aurora executes transformation plan
  • Company provides select unaudited preliminary fiscal Q2 2020 financial results and updated outlook
  • Aurora to host Conference Call at 5:00 p.m. Eastern Time