Aurora Cannabis Takes 19.9% Stake in Cannabis Retailer Choom As Part Of Debt Restructuring And Raises $3.5M

Canadian retailer Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) reported Thursday that it has finalized the restructuring of its roughly $25.9 million in outstanding debt. This includes the $21.8 million that the company owes to Aurora Cannabis Inc. (NASDAQ: ACB).

As part of the agreement, the Canadian cannabis giant opted to convert the outstanding debt into 79,754,843 of Choom's common shares, resulting in Aurora taking a 19.9% stake in Choom. The price per share, however, remained undisclosed.

In addition, Choom agreed to issue a new $6 million convertible debenture to Aurora, which will carry an annual interest rate of 7% and will mature on December …

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