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Health Care Sector Update for 05/09/2017: APH.TO, ACB.V, HMMJ.TO

Aphria Inc. (APH.TO) announced Tuesday that it has closed on its previously announced five-year, $25 million term loan with WFCU Credit Union bearing interest at 3.95% and a 15-year amortization. At closing, Aphria drew the full $25 million. The facility was entered into on May 8, 2017. Along with the net proceeds from a $75 million bought deal equity financing announced simultaneously on April 20, 2017, the net proceeds from the debt financing will be used to fund the remaining portion of the Part IV Expansion, working capital necessary to support the company once the Part IV expansion is complete and strategic investments.

Aurora Cannabis Inc. (ACB.V) announced that effective today, Glen Ibbott has been appointed as Chief Financial Officer, replacing Amy Stephenson who has acted as the company's Interim CFO since August, 2016. Mrs. Stephenson will continue to work with Aurora on a part-time basis to ensure a smooth transition. Additionally, the company announced the appointment of Andrea Paine as its Director, Quebec Affairs. This comes a day after Chuck Rifici resigned as a director of the company to focus on a new venture.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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