Reported Late Thursday March 30, Aurora Repurchases ~$47M Principal Amount Of Convertible Notes, Saving $2.6M In Annualized Interest Payments; Balance Sheet Remains Among Strongest In Canadian Cannabis Industry

urora Cannabis Inc. ("Aurora" or the "Company") (NASDAQ:ACB) (TSX:ACB), the Canadian company opening the world to cannabis, today announced that it has repurchased an aggregate of approximately $46.6 million (US$34.3 million) principal amount of its convertible senior notes ("Notes") at a total cost, including accrued interest, of $45.6 million (US$33.6 million) in cash, saving $2.6 million in annualized interest payments. Following completion of this repurchase, Aurora will have approximately $103 million (US$76 million) of Notes outstanding.

The purpose of the transaction, which represents a repurchase of a portion of the Notes at a 2.5% discount to par value, was to reduce the Company's debt and annual cash interest costs, reinforcing our commitment to financial discipline. Aurora has repurchased an aggregate of approximately $366 million (US$269 million) principal amount of its convertible senior notes since December 2021, resulting in annual cash interest savings of approximately $20 million (US$15 million).

Aurora's balance sheet remains amongst the strongest in the Canadian cannabis industry. Having achieved the goal of Adjusted EBITDA Profitability for the quarter ended December 31, 2022, Aurora expects to continue to focus on profitable growth in both global medical and Canadian adult use markets.

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.