Arura completes acquisition of Silkit and second tranche of private placement

Pursuant to the definitive acquisition agreement, Arura has acquired all of the outstanding securities from the securities holders of Silkit for an aggregate base purchase price of CAD1 million.

The second tranche of the placement consisted in the issuance of 4.15 million units issued by Arura at a price of $0.125 per unit composed of one common share and one-half common share purchase warrant (a unit).

The net proceeds of this second tranche will be used to pay down debt, to finance the growth of the sales derived from the Neolia Brands, to finance the commercialization of the Silkit pipeline and for general working capital purposes.