EDMONTON — Aurora Cannabis Inc.’s share price fell by about 40 per cent, after the company announced it sold US$150 million worth of shares.

The Edmonton marijuana company’s share price was $3.47 when trading ended Thursday, but by mid-morning Friday, had fallen to $2.07 and closed at $2.14.

The sale of shares was part of an amendment Aurora made to a previously announced bought deal financing.

The amendment made it possible for a syndicate of underwriters led by Canaccord Genuity and BMO Capital Markets to purchase 61.2 million Aurora units for US$2.45 each.

Each unit is comprised of one common share in Aurora and one common share purchase warrant, which can be used to acquire one common share for US$3.20 each in the next 36 months.

Aurora has yet to record a profit and in recent years has been trying to drive revenues by better aligning supply with demand, laying off staff and closing facilities.

This report by The Canadian Press was first published May 27, 2022.

The Canadian Press

CALGARY — The price of natural gas hit heights not seen since 2008 this week and analysts say it could go even higher this summer.

The U.S. benchmark natural gas price hit is currently trading at around US$8.60 per million British thermal units, or MMBtu. It surged to over $9 earlier in the week.

Analysts say the price could break $10 this summer due to low inventories and global concerns about energy security.

Summer heat waves could also push prices higher by driving up electricity demand.

The surging prices are good news for Western Canada, where the country’s natural gas production is concentrated.

But an industry group says labour shortages remain an ongoing challenge for drillers.

This report by The Canadian Press was first published May 27, 2022.

The Canadian Press