EDMONTON, Alberta, June 3, 2022 – PRESS RELEASE – Aurora Cannabis Inc., a Canadian company defining the future of cannabinoids worldwide, announced that it has repurchased an aggregate of approximately CA$25.3 million (U.S.$20 million) principal amount of its convertible senior notes at a total cost, including accrued interest, of $24.3 million (U.S. 19.2 million) in cash.

The purpose of the transaction, which represents a repurchase of a portion of the notes at a 5.25% discount to par value, was to reduce the company’s debt and annual cash interest costs. Annual cash interest savings from the repurchases of the notes made from Q3 2022 onward now total $9.5 million (U.S.$7.5 million).

Aurora’s balance sheet is among the strongest in the industry with approximately $455 million in cash inclusive of the transaction announced June 3, and the company reiterates its expectation of achieving a positive adjusted EBITDA run rate by the first half of fiscal 2023.

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.

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