Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, reports that it has repurchased an aggregate of approximately $31.3 million (US$23.0 million) principal amount of its convertible senior notes ("Notes") at a total cost, including accrued interest, of $29.8 million (US$21.8 million) in cash.

The purpose of the transaction, which represents a repurchase of a portion of the Notes at a 5.45% discount to par value, was to reduce the Company's debt and annual cash interest costs. Annual cash interest savings from the repurchases of Notes made from Q3 2022 onwards now total approximately $11.9 million (US$8.7 million).

Aurora's balance sheet remains amongst the strongest in the industry, with approximately $380 million of cash and cash equivalents (including approximately $52 million of restricted cash) inclusive of the transaction announced, and the Company reiterates its expectation of achieving a positive Adjusted EBITDA run rate by December 31, 2022.

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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