Aurora Cannabis Repurchases More Debt

Aurora Cannabis Repurchases ~$103 Million Principal Amount of Convertible Notes; Balance Sheet Among Strongest in Industry

Balance Sheet Remains in Net Cash Position, Further Strengthened with Accretive Debt Reduction

EDMONTON, AB, Dec. 5, 2022 /PRNewswire/ – Aurora Cannabis Inc. (the “Company” or “Aurora”) (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today announced that it has repurchased an aggregate of approximately $102.5 million (US$76.1 million) principal amount of its convertible senior notes (“Notes”) at a total cost, including accrued interest, of $99.4 million (US$73.8 million) in cash. Following completion of this repurchase, Aurora will have approximately $148 million (US$110 million) of Notes outstanding.

The purpose of the transaction, which represents a repurchase of a portion of the Notes at a 4.5% discount to par value, was to reduce the Company’s debt and annual cash interest costs. Aurora has repurchased an aggregate of approximately $316.5 million (US$235 million) principal amount of its convertible senior notes over the last twelve months, resulting in annual cash interest savings of approximately $17.4 million (US$12.9 million).

Aurora’s balance sheet remains amongst the strongest in the industry, and the Company reiterates its expectation of achieving Adjusted EBITDA Profitability by December 31, 2022.

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.

About Aurora

Aurora is a global leader in the cannabis industry, serving both the medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis, dedicated to helping people improve their lives. The Company’s adult-use brand portfolio includes Aurora Drift, San Rafael ’71, Daily Special, Whistler, Being and Greybeard, as well as CBD brands, Reliva and KG7. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co. Aurora also has a controlling interest in Bevo Farms, North America’s leading supplier of propagated agricultural plants. Driven by science and innovation, and with a focus on high-quality cannabis products, Aurora’s brands continue to break through as industry leaders in the medical, performance, wellness and adult recreational markets wherever they are launched. Learn more at www.auroramj.com and follow us on Twitter and LinkedIn. Aurora’s common shares trade on the NASDAQ and TSX under the symbol “ACB”.

Original Press Release

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