Aurora Cannabis Inc. announces –

EDMONTON, Alta., May 26, 2022 /PRNewswire/ – Aurora Cannabis Inc. (“Aurora” or the “Company”) (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids around the world, today announced that it entered into an agreement with a syndicate of underwriters led by Canaccord Genuity and BMO Capital Markets, pursuant to which the underwriters agreed to purchase on a bought deal basis 51.1 million units of the Company (the “Units “), at the price of $2.45 per unit for gross proceeds of approximately $125.2 million (the “Offer”). Each Unit will consist of one common share of the Company (a “Common Share”) and one common share purchase warrant of the Company (a “Warrant”). Each warrant may be exercised to acquire one common share of the Company (a “Warrant Share”) for a period of 36 months following the closing date of the offering at an exercise price of $3.20 per Warrant Share, subject to adjustment in certain circumstances.

The Company has granted the underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the offering, to purchase up to an additional 15% of the offering to cover over-allotments, the optionally. This option may be exercised by the underwriters for additional units, common shares, warrants or any combination thereof.

The net proceeds of the offering will be used for general corporate purposes.

The Offering is expected to close on or about June 1, 2022 and will be subject to customary conditions, including approvals from the Toronto Stock Exchange and the Nasdaq Global Select Market.

A prospectus supplement (the “Prospectus Supplement”) to the short form base shelf prospectus of the Company dated March 29, 2021 (the “Base Shelf Prospectus”) will be filed with the securities commissions or securities authorities in each of the provinces of Canadaexcept Quebec, and with the United States Securities and Exchange Commission (the “SEC”) under the company’s registration statement on Form F-10 (the “Registration Statement”) under the system U.S./Canadian Multijurisdictional Disclosure Statement. The Prospectus Supplement, Base Shelf Prospectus and Registration Statement contain important detailed information about the Company and the proposed Offering. Prospective investors should read the prospectus supplement, base shelf prospectus and registration statement and other documents filed by the Company to obtain more complete information about the Company and this offering before making an investment decision.

Copies of the Prospectus Supplement, after filing, and the Base Shelf Prospectus will be available on SEDAR at and copies of the Prospectus Supplement and Registration Statement will be available on EDGAR at address Copies of the prospectus supplement, after filing, the base shelf prospectus and the registration statement may also be obtained from the Company or, in Canada of Canaccord Genuity Corporation, 161 Bay Street, Suite 3000, Toronto, ON M5J 2S1 and in United States of Canaccord ‎Genuity LLC, 99 High Street, Suite 1200, Boston, MA 02110, Attn: Syndicate Department, by phone at (617) 371-3900, or by email at [email protected].

No securities regulatory authority has approved or disapproved of the contents of this press release. This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of these securities in any state or jurisdiction in which such offer , solicitation or sale would be unlawful. prior to registration or qualification under the securities laws of such state or territory.

About Aurora

Aurora is a global leader in the cannabis industry, serving both medical and consumer markets. Based at Edmonton, AB, Aurora is a global cannabis pioneer, dedicated to helping people improve their lives. The Company’s portfolio of adult-use brands includes Aurora Drift, San Rafael ’71, Daily Special, Whistler, Being and Greybeard, as well as CBD, Reliva and KG7 brands. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co. Driven by science and innovation, and with a focus on high-quality cannabis products, Aurora’s brands continue to break through in as industry leaders in the medical, performance, wellness and adult fields. recreational markets wherever they are launched.

Aurora’s common shares trade on NASDAQ and the TSX under the symbol “ACB” and are included in the S&P/TSX Composite Index.

Forward-looking statements

This press release contains statements containing certain “forward-looking information” within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are often characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements made in this press release include statements regarding the timing and completion of the offering and the intended use of proceeds from the offering.

These forward-looking statements are only predictions. The forward-looking information or statements contained in this press release have been prepared based on assumptions that management believes to be reasonable. Important factors or assumptions involved in making forward-looking statements include, but are not limited to, publicly available information from government sources as well as market research and industry analysis and assumptions based on data and knowledge of this industry that the Company believes to be reasonable. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes are relevant and reasonable in the circumstances and which could cause events, results, level of activity, performance Actual prospects, opportunities or achievements differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the ability to retain key personnel, the ability to continue to invest in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of our products, customer experience and retention, the development of government and non-government third-party consumer sales channels, management estimates of consumer demand in Canada and in jurisdictions to which the Company exports, expectations of future results and expenses, the risk of successful integration of acquired businesses and operations, management’s estimate that general and administrative expenses will only increase in proportion to revenue growth, the ability to expand and maintain distribution capabilities, the impact of competition, the general impact of financial market conditions, the performance of cannabis cultivation operations, demand for products, price changes of required products, competition and the possibility of changes in laws, industry rules and regulations, epidemics, pandemics or other public health crises, including outbreak current situation of COVID-19, and other risks, uncertainties and factors set forth under the heading “Risk Factors” in the Company’s Annual Information Form dated September 27, 2021 (the “Annual Information Form”) and filed with the Canadian securities authorities available on the Company’s issuer profile on SEDAR at and filed with and available on the SEC’s website at www. The Company cautions that the list of risks, uncertainties and other factors described in the Annual Information Form is not exhaustive and that other factors could also adversely affect its results. Readers are urged to carefully consider the risks, uncertainties and assumptions when evaluating forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as expressly required. by applicable securities laws.

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SOURCEAurora Cannabis Inc.

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