Full Press Release Details
Aurora Cannabis Inc. Announces US$125 Million
Bought Deal Financing
EDMONTON, AB, May 26, 2022 /CNW/ - Aurora Cannabis
Inc. ("Aurora" or the "Company") (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids
worldwide, 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 (the "Units"),
at a price of US$2.45 per Unit for gross proceeds of approximately US$125.2 million (the "Offering"). Each Unit will be
comprised of one common share of the Company (a "Common Share") and one common share purchase warrant of the Company (a "Warrant").
Each Warrant will be exercisable to acquire one common share of the Company (a "Warrant Share") 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.
No securities regulatory authority has either approved
or disapproved of the contents of this press release. 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 prior to registration or qualification under the securities laws of any such state or jurisdiction.
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 Drift, San Rafael '71, Daily Special, Whistler,
Being and Greybeard, as well as CBD brands, Reliva and KG7. Medical 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.
Aurora's common shares trade on the NASDAQ and TSX
under the symbol "ACB" and is a constituent of the S&P/TSX Composite Index.
Forward Looking Statements
This news release includes statements containing certain
"forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking
statements are frequently characterized by words such as "plan", "continue", "expect", "project",
"intend", "believe", "anticipate", "estimate", "may", "will", "potential",
"proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur.
Forward-looking statements made in this news release include statements regarding the timing and completion of the Offering and the expected
use of proceeds of the Offering.
These forward-looking statements are only predictions.
Forward looking information or statements contained in this news release have been developed based on assumptions management considers
to be reasonable. Material factors or assumptions involved in developing forward-looking statements include, without limitation, publicly
available information from governmental sources as well as from market research and industry analysis and on assumptions based on data
and knowledge of this industry which the Company believes to be reasonable. Forward-looking statements are subject to a variety of risks,
uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events,
results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking
statements. These risks include, but are not limited to, the ability to retain key personnel, the ability to continue investing in infrastructure
to support growth, the ability to obtain financing on acceptable terms, the continued quality of our products, customer experience and
retention, the development of third party government and non-government consumer sales channels, management's estimates of consumer demand
in Canada and in jurisdictions where the Company exports, expectations of future results and expenses, the risk of successful integration
of acquired business and operations, management's estimation that SG&A will grow only in proportion of revenue growth, the ability
to expand and maintain distribution capabilities, the impact of competition, the general impact of financial market conditions, the yield
from cannabis growing operations, product demand, changes in prices of required commodities, competition, and the possibility for changes
in laws, rules, and regulations in the industry, epidemics, pandemics or other public health crises, including the current outbreak of
COVID-19, and other risks, uncertainties and factors set out under the heading "Risk Factors" in the Company's annual information
form dated September 27, 2021 (the "AIF") and filed with Canadian securities regulators available on the Company's issuer profile
on SEDAR at www.sedar.com and filed with and available on the SEC's website at www.sec.gov. The Company cautions that the list of risks,
uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers
are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned
not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation,
to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly
required by applicable securities law.
SOURCE Aurora Cannabis Inc.
View original content: http://www.newswire.ca/en/releases/archive/May2022/26/c7952.html
For further information: For Media: Michelle Lefler, VP, Communications
& PR, media@auroramj.com; For Investors: ICR, Inc., Investor Relations, aurora@icrinc.com
CO: Aurora Cannabis Inc.
CNW 17:29e 26-MAY-22