Aurora Cannabis Inc. Announces C$34 Million Bought Deal Financing Intends to Repay Remaining Convertible Debt Balance

Aurora Cannabis Inc. (“Aurora” or the “Company”) (NASDAQ: ACB) (TSX: ACB), the Canadian company opening the world to cannabis, today announced that it has entered into an agreement pursuant to which Canaccord Genuity has agreed to buy, on a bought deal basis, 46,250,000 common shares of the Company (the “Offered Securities”) at a price of C$0.73 per Offered Security (the “Offering Price”), for aggregate gross proceeds to Aurora of approximately C$33,762,500 (the “Offering”).

Aurora has also granted Canaccord Genuity an option (the “Over-Allotment Option”) to purchase up to 6,937,500 additional common shares of the Company on the same terms as the Offering. If the Over-Allotment Option is exercised in full, the aggregate gross proceeds of the Offering will be approximately C$38,826,875.

The Company plans to use the net proceeds of the Offering to repay the remainder of its outstanding convertible senior notes at or prior to maturity, representing principal outstanding of approximately US$25 million, with the remainder, if any, to be used for strategic purposes, including potential acquisitions.

The closing of the Offering is expected to take place on or about October 3, 2023 and will be subject to customary conditions, including approvals of the Toronto Stock Exchange.

A prospectus supplement (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated April 27, 2023 (the “Base Shelf Prospectus”) will be filed with the securities commissions or securities regulatory authorities in each of the provinces of Canada, except Quebec. Copies of the Prospectus Supplement, following filing thereof, and the Base Shelf Prospectus may be obtained on SEDAR+ at and from Canaccord Genuity Corp., 40 Temperance Street, Suite 2100, Toronto, ON M5H 0B4. The Prospectus Supplement and the Base Shelf Prospectus contain important detailed information about the Company and the proposed Offering. Prospective investors should read the Prospectus Supplement, the Base Shelf Prospectus, and the other documents the Company has filed on SEDAR+ at before making an investment decision.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The Offered Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the Offered Securities may not be offered, sold or delivered, directly or indirectly, in the United States or to U.S. persons except pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release is for information purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

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