Full Press Release Details
Item 1. Name and Address of Company
Aurora Cannabis Inc. ("Aurora"
500 - 10355 Jasper Avenue
Edmonton, Alberta T5J 1Y6
Item 2. Date of Material Change
Item 3. News Release
A news release announcing the
material change referred to in this report was disseminated by Aurora on September 9, 2019 and filed on SEDAR under Aurora's
profile on the same date.
Item 4. Summary of Material Change
The Company closed its previously
announced amended and upsized credit facilities with a syndicate of lenders led by the Bank of Montreal. The facilities consist
of an additional C$160 million in term loans, as well as an accordion feature that enables Aurora to upsize the facility by approximately
C$40 million, in addition to the original C$200 million in credit facilities all of which mature in 2021. The credit facilities
will have a first ranking general security interest in the assets of Aurora and can be repaid without penalty at Aurora's
Item 5. Full Description of Material Change
See the attached news release.
Item 6. Reliance on subsection 7.1(2) of National
Item 7. Omitted Information
Item 8. Executive Officers
The following senior officer of
the Company is knowledgeable about the material change and this Material Change Report and may be contacted:
Telephone: 1-855-279-4652
Item 9. Date of Report
Aurora Cannabis Closes Expanded C$360 Million
(US$280 Million) Credit Facility
Edmonton, AB - September
9, 2019 - Aurora Cannabis Inc. ("Aurora or the "Company") (NYSE | TSX: ACB), the Canadian company defining
the future of cannabis worldwide, is pleased to announce that it has closed its previously announced amended and upsized credit
facilities with a syndicate of lenders led by the Bank of Montreal ("BMO"). The facilities consist of an additional C$160
million in term loans, as well as an accordion feature that enables Aurora to upsize the facility by approximately C$40 million,
in addition to the original C$200 million in credit facilities all of which mature in 2021. The credit facilities will have a first
ranking general security interest in the assets of Aurora and can be repaid without penalty at Aurora's discretion.
"We are very pleased
to now have three of the five largest Schedule 1 Canadian banks in our syndicate, along with increased participation from other
key syndicate partners," said Terry Booth, CEO of Aurora. "Our continued operational execution, world-class facilities,
and strong corporate governance gives our financing partners the confidence to step in as an important part of the Aurora story."
Headquartered in Edmonton,
Alberta, Canada with funded capacity in excess of 625,000 kg per annum and sales and operations in 25 countries across five continents,
Aurora is one of the world's largest and leading cannabis companies. Aurora is vertically integrated and horizontally diversified
across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis
and hemp production, derivatives, high value-add product development, home cultivation, wholesale and retail distribution.
Highly differentiated from
its peers, Aurora has established a uniquely advanced, consistent and efficient production strategy, based on purpose-built facilities
that integrate leading-edge technologies across all processes, defined by extensive automation and customization, resulting in
the massive scale production of high- quality consistent product. Designed to be replicable and scalable globally, our production
facilities are designed to produce cannabis at significant scale, with high quality, industry-leading yields, and low-per gram
production costs. Each of Aurora's facilities is built to meet European Union Good Manufacturing Practices ("EU GMP")
standards. Certification has been granted to Aurora's first production facility in Mountain View County, the MedReleaf Markham
facility, and its wholly owned European medical cannabis distributor Aurora Deutschland. All Aurora facilities are designed and
built to the EU GMP standard.
In addition to the Company's
rapid organic growth and strong execution on strategic M&A, which to date includes 17 wholly owned subsidiary companies - MedReleaf,
CanvasRX, Peloton Pharmaceutical, Aurora Deutschland, H2 Biopharma, BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics,
Anandia, HotHouse Consulting, MED Colombia, Agropro, Borela, ICC Labs, Whistler, Chemi Pharmaceutical, and Hempco - Aurora is distinguished
by its reputation as a partner and employer of choice in the global cannabis sector, having invested in and established strategic
partnerships with a range of leading innovators, including:
Radient Technologies
Inc. (TSXV: RTI), Cann Group Ltd. (ASX: CAN), Micron Waste Technologies Inc. (CSE: MWM), Choom Holdings Inc. (CSE: CHOO), CTT Pharmaceuticals
(OTCC: CTTH), Alcanna Inc. (TSX: CLIQ), High Tide Inc. (CSE: HITI), EnWave Corporation (TSXV: ENW), Capcium Inc. (private), Evio
Beauty Group (private), and Wagner Dimas (private).
Aurora's Common Shares trade on the TSX and NYSE
under the symbol "ACB", and is a constituent of the S&P/TSX Composite Index.
For more information about Aurora, please visit our investor
website, investor.auroramj.com
Terry Booth, CEO Aurora Cannabis Inc.
| For Media: | For Investors: |
| Heather MacGregor | Rob Kelly |
| +1.416.509.5416 | +1.647.331.7228 |
| heather.macgregor@auroramj.com | rob.kelly@auroramj.com |
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. These statements are only predictions. Various assumptions were
used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release.
Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those
projected in the forward-looking statements. 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 law.
nor their applicable Regulation Services Providers (as that term is defined in the policies of the Toronto Stock Exchange and New
York Stock Exchange) accept responsibility for the adequacy or accuracy of this release.