Aurora Cannabis Inc. Announces US$125 Million Bought Deal Financing

Published: May 30, 2022

Aurora Cannabis Inc. Announces US$125 Million Bought Deal Financing

Aurora Cannabis Inc., the Canadian company defining the future of cannabinoids worldwide, today has announced today that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity and BMO Capital Markets, under which the underwriters have agreed to buy on bought deal basis 51.1 million units of the Company, at a price of US$2.45 per Unit for gross proceeds of approximately US$125.2 million. Each Unit will be comprised of one common share of the Company and one common share purchase warrant of the Company. Each Warrant will be exercisable to acquire one common share of the Company for a period of 36 months following the closing date of the Offering at an exercise price of US$3.20 per Warrant Share, subject to adjustment in certain events.

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, if any. This option may be exercised by the Underwriters for additional Units, Common Shares, Warrants or any combination of such securities.

The net proceeds of the offering will be used for general corporate purposes. The closing of the Offering is expected to take place on or about June 1, 2022 and will be subject to customary conditions, including approvals of the Toronto Stock Exchange and the Nasdaq Global Select Market.

A prospectus supplement (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated March 29, 2021 (the “Base Shelf Prospectus”) will be filed with the securities commissions or 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 Prospectus 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 Prospectus 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.

Copies of the Prospectus Supplement, following filing thereof, and the Base Shelf Prospectus will be available on SEDAR at www.sedar.com and copies of the Prospectus Supplement and the Registration Statement will be available on EDGAR at www.sec.gov. Copies of the Prospectus Supplement, following filing thereof, the Base Shelf Prospectus and the Registration Statement may also be obtained from the Company or, in Canada from Canaccord Genuity Corp., 161 Bay Street, Suite 3000, Toronto, ON M5J 2S1 and in the United States from Canaccord ‎Genuity LLC, 99 High Street, Suite 1200, Boston, Massachusetts 02110, Attn: Syndicate Department, by telephone at (617) 371-3900, ‎or by email at prospectus@canaccordgenuity.com.

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 DriftSan Rafael ’71Daily SpecialWhistlerBeing and Greybeard, as well as CBD brands, Reliva and KG7Medical 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.