Aurora Cannabis Announces Proposed $125M Common Stock Offering At $7.50/Share

EDMONTON, Alberta, Nov. 10, 2020 (GLOBE NEWSWIRE) — Aurora Cannabis Inc. (the "Company" or "Aurora") ((NYSE, TSX:ACB), the Canadian company defining the future of cannabinoids worldwide, announced today that it will be filing a preliminary prospectus supplement (the "Preliminary Supplement") to its short form base shelf prospectus dated October 28, 2020 (the "Base Shelf Prospectus") relating to a proposed overnight marketed public offering (the "Offering") of units of the Company (the "Units") at a price of US$7.50 per Unit for total gross proceeds to the Company of approximately US$125 million.
 

Each Unit will be comprised of one common share of the Company (a "Common Share") and one half of one common share purchase warrant of the Company (each full common share purchase warrant, a "Warrant"). Each Warrant will be exercisable to acquire one common share of the Company (a "Warrant Share") for a period of 40 months following the closing date of the Offering at an exercise price of US$9.00 per Warrant Share, subject to adjustment in certain events.

The final terms of the Offering are to be determined at the time of pricing. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The closing of the Offering will be subject to market and other customary conditions, including approvals of the Toronto Stock Exchange and the New York Stock Exchange.

In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the Units offered in the proposed Offering on the same terms and conditions. This option may be exercised by the underwriters for additional Units, Common Shares, Warrants or any combination of such securities.

The Company expects to use the net proceeds from the Offering, if any, to fund growth opportunities, working capital and other general corporate purposes.

BMO Capital Markets and ATB Capital Markets are acting as the bookrunners for the Offering.

The Preliminary Supplement will be filed with the securities commissions or similar securities regulatory authorities in each of the provinces of Canada, except Quebec, and with the U.S. Securities and Exchange Commission (the "SEC") as part of the Company's registration statement on Form F-10 (the "Registration Statement") under the U.S./Canada Multijurisdictional Disclosure System. The Preliminary Supplement, the Base Shelf Prospectus and the Registration Statement contain important detailed information about the Company and the proposed Offering. Prospective investors should read the Preliminary Supplement, the Base Shelf Prospectus and the Registration Statement and the other documents the Company has filed for more complete information about the Company and this Offering before making an investment decision.