Exhibit 99.1
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September 28, 2023 |
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NASDAQ | TSX: ACB |
Aurora Cannabis Inc. Announces C$34 Million Bought Deal Financing
Intends to Repay Remaining Convertible Debt Balance
Edmonton, AB September 28, 2023 Aurora Cannabis Inc. (Aurora or the Company) (NASDAQ | TSX:
ACB), the Canadian company opening the world to cannabis, today announced that it has entered into an agreement pursuant to which certain underwriters have agreed to buy, on a bought deal basis, 46,250,000 common shares of the Company (the
Offered Securities) at a price of C$0.73 per Offered Security (the Offering Price), for aggregate gross proceeds to Aurora of approximately C$33,762,500 (the Offering).
Aurora has also granted the underwriters an option (the Over-Allotment Option) to purchase up to 6,937,500 additional common shares of the
Company on the same terms as the Offering. If the Over-Allotment Option is exercised in full, the aggregate gross proceeds of the Offering will be approximately C$38,826,875.
The Company plans to use the net proceeds of the Offering to repay the remainder of its outstanding convertible senior notes at or prior to maturity,
representing principal outstanding of approximately US$25 million, with the remainder, if any, to be used for strategic purposes, including potential acquisitions.
The closing of the Offering is expected to take place on or about October 3, 2023 and will be subject to customary conditions, including approvals of the
Toronto Stock Exchange.
A prospectus supplement (the Prospectus Supplement) to the Companys short form base shelf prospectus dated
April 27, 2023 (the Base Shelf Prospectus) will be filed with the securities commissions or securities regulatory authorities in each of the provinces of Canada, except Quebec. Copies of the Prospectus Supplement, following filing
thereof, and the Base Shelf Prospectus may be obtained on SEDAR+ at www.sedarplus.com. The Prospectus Supplement and the Base Shelf Prospectus contain important detailed information about the Company and the proposed Offering. Prospective
investors should read the Prospectus Supplement, the Base Shelf Prospectus, and the other documents the Company has filed on SEDAR+ at www.sedarplus.com before making an investment decision.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The Offered Securities have not been and will not
be registered under the United States Securities Act of 1933, as amended (the U.S. Securities Act) or any state securities laws. Accordingly, the Offered Securities may not be offered, sold or delivered, directly or indirectly, in the
United States or to U.S. persons except pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release is for information purposes only and shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.
About Aurora
Aurora is opening the world to cannabis,
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 Companys adult-use brand
portfolio includes Aurora Drift, San Rafael 71, Daily Special, Whistler, Being and Greybeard. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co.
Aurora also has a controlling interest in Bevo Farms Ltd., North Americas leading supplier of propagated agricultural plants. Driven by science and innovation, and with a focus on high-quality cannabis products, Auroras brands
continue to break through as industry leaders in the medical, performance, wellness and adult recreational markets wherever they are launched.
Auroras common shares trade on the NASDAQ and TSX under the symbol ACB.