Aura Health Inc. (“Aura”) (CSE:BUZZ) is pleased to announce that it has closed the second tranche of its previously announced “best efforts” private placement subscription receipt offering (the “Offering”) for additional gross proceeds of $2,820,070 (the “Second Tranche Offering”), as well as a share exchange transaction with FSD Pharma Inc. (“FSD”), a licensed producer under the Cannabis Act whereby, among other things, FSD issued $3 million of FSD shares (the “FSD Shares”) to the Company in exchange for $3 million of Aura shares (the “Aura Shares”). Since the FSD Shares were issued to the Company on a private placement basis, the Company is in the process of finalizing an up to $3 million bridge facility (the “Bridge Facility”) to cover the value of the FSD Shares until they are freely tradeable. The gross proceeds of $1,919,929 raised pursuant to the closing of the first tranche of the Offering, the gross proceeds of $2,820,070 raised pursuant to the Second Tranche Offering, the $3 million of FSD Shares issued to Aura in connection with the Share Exchange, and the Bridge Facility will generate $7,740,000 for the Company and will provide the Company with the funds required to close the proposed acquisition of an 80% equity interest in Pharmadrug Production GmbH, previously announced in a press release dated January 25, 2019.

Minden Gross LLP acted for Aura with a team lead by Andrew Elbaz (Partner, Securities & Capital Markets), David Judson (​Partner, Securities & Capital Markets), and Alexander Katznelson (Associate, Securities & Capital Markets).

Read the press release here: https://www.globenewswire.com/news-release/2019/04/17/1806013/0/en/Aura-Health-Announces-5-82-Million-Closing-of-the-Second-Tranche-of-Its-Subscription-Receipt-Offering-and-Share-Exchange-Transaction.html