California regulators are filing the proposed emergency provisions to implement the Cannabis Banking Act

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EDMONTON, AB, Jan. 21, 2021 / CNW / – PRESS RELEASE – Aurora Cannabis Inc., a Canadian cannabis company, announced that it has entered into an agreement with a consortium of subscribers led by BMO Capital Markets and ATB Capital Markets. Under this agreement, the subscribers have agreed to purchase 12,000,000 units of the company at a price of $ 10.45 per unit for gross proceeds of approximately $ 125 million on a purchase basis. Each unit consists of one common share of the company and one half of a warrant to purchase common stock of the company. Each warrant may be exercised to purchase one common share of the Company for a period of 36 months from the closing date of the Offering at an exercise price of US $ 12.60 per warrant share, subject to adjustment in certain circumstances.

The company has granted the subscribers an option that can be exercised 30 days after the offer has been concluded at the offer price in order to acquire up to 10% of the offer in order to cover any over-allotments. This option may be exercised by subscribers for additional shares, common shares, warrants, or any combination of these securities.

The net proceeds of the offering will be used for general corporate purposes, including opportunistic deleveraging. The company believes the offering fits in with its broader strategy of having a strong balance sheet while ensuring maximum flexibility in investing and building a leadership position in global cannabinoids.

The offering is expected to close on or about January 26, 2021 and is subject to customary conditions, including the approval of the Toronto Stock Exchange and the New York Stock Exchange.

A prospectus addendum to the company’s abbreviated base shelf prospectus dated October 28, 2020 will be filed with the securities commissions or securities regulators in each of the provinces of Canada except Quebec and with the US Securities and Exchange Commission (SEC) as part of the company’s registration statement on Form F- 10 under the US / Canada Multijurisdictional Disclosure System. The Supplement to the Prospectus, the Base Shelf Prospectus and the Registration Statement contain important detailed information about the company and the proposed offer. Potential investors should read the Supplementary Prospectus, the Base Prospectus and the Registration Statement and other documents filed by the Company for more complete information about the Company and this Offering before making an investment decision.

Copies of the supplement to the prospectus after its filing and the base shelf prospectus are available on SEDAR at www.sedar.com. Copies of the Supplement and Registration Statement are available on EDGAR at www.sec.gov. Copies of the Supplement, upon filing, the Base Prospectus and the Registration Statement are also available from BMO Capital Markets by contacting BMO Capital Markets, Brampton C / O Distribution Center, The Data Group of Companies, 9195 Torbram Road, Brampton. Ontario, L6S 6H2, or by calling (905) 791-3151 ext 431 or emailing torbramwarehouse@datagroup.ca or from BMO Capital Markets Corp., Attn: Equity Consortium Department, 3 Times Square, 25th Floor, New York , NY 10036 (Attn: Equity Syndicate) or by phone at (800) 414-3627 or by email at bmoprospectus@bmo.com. Copies of such documents are also available from ATB Capital Markets Inc., Attn: Gail O’Connor, 410-585 8th Ave SW, Calgary, Alberta, T2P 1G1, (403) 539-8629, or by email from atbcm_dealflow @ atb. com.

No securities regulatory authority has approved or disapproved the contents of this press release. This press release is for informational purposes only and does not constitute an offer, solicitation or solicitation of an offer to buy, nor will any sale of these securities be made in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to Registration or qualification under the securities laws of such state or jurisdiction.