Full Press Release Details
Update on Nasdaq Listing
24, 2023 /CNW/ - Aurora Cannabis Inc. ("Aurora" or the "Company") (NASDAQ: ACB) (TSX: ACB), the Canadian company
opening the world to cannabis, today announced receipt of a notification letter (the "Notification Letter") from The Nasdaq
Stock Market LLC ("Nasdaq") dated March 24, 2023, advising that the Company was not in compliance with Nasdaq Listing Rule
5450(a)(1) as the bid price of the Company's listed securities had closed at less than US$1.00 per share over the last 30 consecutive
business days (the "Minimum Bid Price Requirement") from February 8, 2023 to March 23, 2023.
Nasdaq Listing Rule 5810(c)(3)(A), the Company has until September 20, 2023, being 180 calendar days from the date of the Notification
Letter (the "Compliance Period"), to regain compliance with the Minimum Bid Price Requirement.
If at any time before
the expiration of the Compliance Period the bid price of the Company's common shares (the "Shares") closes at or above US$1.00 per
share for a minimum of ten consecutive business days, Nasdaq would be expected to provide written notification that the Company has achieved
compliance with the Minimum Bid Price Requirement, subject to Nasdaq's discretion to extend such ten business day period in certain circumstances.
The Nasdaq Notification
Letter does not affect day-to-day trading and does not result in the delisting of the Company's Shares. Aurora's Shares are also
listed on the Toronto Stock Exchange, and the Notification Letter does not affect the Company's compliance status with the Toronto
Stock Exchange listing.
to continue actively monitoring the bid price for its Shares between now and the expiration of the Compliance Period and will consider
all available options to resolve the deficiency with every intention to regain compliance with the Minimum Bid Price Requirement.
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 Company's adult-use brand portfolio includes Aurora Drift, San Rafael '71, Daily
Special, Being and Greybeard, as well as CBD brand, Reliva. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler
Medical Marijuana Co. Aurora also has a controlling interest in Bevo Farms Ltd., North America's leading supplier of propagated agricultural
plants. 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. Learn more at www.auroramj.com
Aurora's common shares
trade on the NASDAQ and TSX under the symbol "ACB".
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, but are not limited to, statements regarding
the ability to comply with the Minimum Bid Price Requirement.
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 20, 2022 (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.
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For further information: For Media:
Michelle Lefler, VP, Communications & PR, media@auroramj.com; For Investors: ICR, Inc., Investor Relations, aurora@icrinc.com
CNW 18:00e 24-MAR-23