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Aurora Cannabis (ACB) Repurchases US$20 Million of Convertible Notes

Aurora Further Strengthens Balance Sheet with Accretive Debt Reduction

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), the Canadian cannabis company defining the future of cannabinoids worldwide, today announced that it has repurchased an aggregate of approximately $20 million principal amount of its convertible senior notes at a total cost, including accrued interest, of $24.3 million (US$19.2 million) in cash.

The purpose of the transaction, which represents a repurchase of a portion of the Notes at a 5.25% discount to par value, was to reduce the Company’s debt and annual cash interest costs. Annual cash interest savings from the repurchases of Notes made from Q3 2022 onwards now total $9.5 million (US$7.5 million).

Aurora’s balance sheet is among the strongest in the industry with approximately $455 million in cash inclusive of the transaction announced today, and the Company reiterates its expectation of achieving a positive Adjusted EBITDA run rate by the first half of fiscal 2023.

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. 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.

Aurora’s common shares trade on the NASDAQ and TSX under the symbol “ACB” and is a constituent of the S&P/TSX Composite Index.

Aurora Cannabis (ACB) Repurchases US$20 Million of Convertible Notes


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