Full Press Release Details
MATERIAL CHANGE REPORT
Item 1 Name and Address of Company
Aurora Cannabis Inc. ("Aurora"
Edmonton, Alberta T6X 1V8
Item 2 Date of Material Change
A press release describing the material change was
disseminated by Aurora before market open on August 1, 2024 through Cision PR Newswire and can be found on SEDAR+ at www.sedarplus.ca.
Item 4 Summary of Material Change
The Company announced that it has entered into a commercial
collaboration with Cogent International Manufacturing Ltd. ("Cogent"), a wholly-owned subsidiary of Vectura Fertin Pharma
Inc. Through this arrangement, Cogent will initially launch its newly developed CBD lozenge on Aurora's Canadian medical cannabis patient
platform, giving access to patient feedback which will be used to validate the product proposition and patient responses to the product
while building real-world patient data for future analysis. Following the successful launch of the CBD lozenge, the two companies may
explore opportunities regarding the potential commercialization of other Vectura Fertin Pharma medical cannabis products in Canada.
Item 5 Full Description of Material Change
Description of Material Change
On July 31, 2024, the Company, through a wholly-owned
subsidiary, entered into a commercial collaboration with Cogent, a wholly-owned subsidiary of Vectura Fertin Pharma Inc. Through this
arrangement, Cogent will initially launch its newly developed CBD lozenge on Aurora's Canadian medical cannabis patient platform, giving
access to patient feedback which will be used to validate the product proposition and patient responses to the product while building
real-world patient data for future analysis. Following the successful launch of the CBD lozenge, the two companies may explore opportunities
regarding the potential commercialization of other Vectura Fertin Pharma medical cannabis products in Canada.
The agreement between Aurora and Cogent is expected
to have an initial term of 24 months, with a target of launching CBD containing products on Aurora's Canadian medical cannabis marketplace,
starting with a CBD lozenge. The products will be manufactured, packaged and labelled by Cogent for sale and distribution by Aurora through
its leading direct-to-patient e-commerce sales channel, requiring minimal additional capital investment by Aurora. The agreement provides
for a fixed fee to Aurora on a quarterly basis for the provision of certain marketing, distribution and data collection services to Cogent
for a total of $9.84 million over the term of the agreement, and allows for Aurora to earn net revenue on a percentage basis of sales.
The expected launch of the first SKU in market is
targeted for later in 2024. A copy of the news release is attached hereto.
for Restructuring Transactions
Item 6 Reliance on subsection 7.1(2) of National
Item 7 Omitted Information
Item 8 Executive Officer
Further information regarding the matters described
in this report may be obtained from Ananth Krishnan, Vice President, Corporate Development, who is knowledgeable about the details of
the Agreement and may be contacted at Ananth.krishnan@auroramj.com.
Item 9 Date of Report
Appendix: News Release
Aurora Cannabis and Vectura Fertin
Pharma, Inc. announce commercial collaboration
Collaboration will initially
see launch of a new CBD lozenge from Cogent International, a Vectura Fertin Pharma subsidiary, on Aurora's Canadian medical cannabis
Following successful launch
of CBD lozenge, the collaboration will explore the potential to launch Vectura Fertin Pharma's future medical cannabis portfolio
Edmonton, AB, and Stamford, CT
- August 1, 2024 - Aurora Cannabis Inc. ("Aurora") (NASDAQ | TSX: ACB), a leading Canadian-based global medical cannabis
company, and Vectura Fertin Pharma, Inc., an innovator in wellness and healthcare, are pleased to announce that Aurora has entered into
a commercial collaboration with Cogent International Manufacturing Ltd. ("Cogent"), a wholly-owned subsidiary of Vectura
Fertin Pharma Inc. Through this arrangement, Cogent will initially launch its newly developed CBD lozenge on Aurora's Canadian medical
cannabis patient platform, giving access to patient feedback which will be used to validate the product proposition and patient responses
to the product while building real-world patient data for future analysis. Following the successful launch of the CBD lozenge, the two
companies may explore opportunities regarding the potential commercialization of other Vectura Fertin Pharma medical cannabis products
"We are excited about
this commercial collaboration that will allow Aurora to leverage its industry-leading patient platform in Canada to support advancements
in medical cannabis, as well as to provide our patients with access to Vectura Fertin Pharma's new CBD lozenge," said Miguel
Martin, CEO for Aurora. "As a global leader in the manufacturing of pharmaceutical-grade medical cannabis, we are pleased to see
increased interest in the possibilities of medical cannabis as part of healthcare options made available to Canadians."
Michael Kunst, CEO for Vectura
Fertin Pharma, said: "At Vectura Fertin Pharma, we are committed to building a pipeline of innovation, based on scientific rigor,
to improve unmet medical and health needs. We are delighted to be working with the Aurora team who share our high standards for safety
and quality, and our strong focus on improving people's lives. Through this strategic collaboration, the Aurora platform will enable
us to bring our new CBD lozenge, as prescribed by a healthcare professional, to the largest patient base in Canada, and to both study
its impact and validate the product proposition through the generation of real-world patient data."
Select Agreement Details
The agreement between Aurora and
Cogent is expected to have an initial term of 24 months, with a target of launching CBD containing products on Aurora's Canadian
medical cannabis marketplace, starting with a CBD lozenge. The products will be manufactured, packaged and labelled by Cogent for sale
and distribution by Aurora through its leading direct-to-patient e-commerce sales channel, requiring
minimal additional capital investment by Aurora. The expected launch of the first SKU in market is targeted for later in 2024.
About Aurora Cannabis
Aurora is opening the world to
cannabis, serving both the medical and consumer markets across Canada, Europe, Australia and South America. 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, Tasty's, Being and Greybeard. Medical cannabis brands include MedReleaf, CanniMed,
Aurora and Whistler Medical Marijuana Co, as well as international brands, Pedanios, Bidiol, IndiMed and CraftPlant. 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, wellness
Aurora's common shares trade on the NASDAQ and TSX under the
About Vectura Fertin Pharma
At Vectura Fertin Pharma, we
are developing and commercializing a proprietary pipeline of differentiated products and brands in wellness and healthcare that address
unmet patient and consumer needs. We have unique R&D capabilities in inhaled and oral technology, which we are applying across four
key areas: Cannabinoids, Inhaled Therapeutics, Nicotine Replacement Therapy and Consumer Health.
Underpinned by scientific rigor, and patient and consumer insights, we are passionate about finding new and better ways to help
people take care of their health and wellbeing. Vectura Fertin Pharma was formed in March 2022 following the acquisition of Fertin Pharma,
Vectura Group PLC and OtiTopic by Philip Morris International. For more information, visit www.vecturafertinpharma.com or LinkedIn.
Michelle Lefler ICR,
VP, Communications & PR aurora@icrinc.com
Vectura Fertin Pharma
Forward Looking Information
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 Company's commercialization collaboration with Cogent,
which include, but are not limited to, those statements under the heading "Select Agreement Details", statements related