Aurora Announces Filing of Prospectus Supplement for U.S.$300 million At-The-Market Offering Program

Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, has filed a prospectus supplement establishing a new at-the-market equity program (the “ATM Program”) that allows the Company to issue and sell up to U.S.$300 million of common shares in the capital of the Company (the “Common Shares”) from treasury to the public, from time to time, at the Company’s discretion. Any Common Share sales under the ATM Program will be made through “at-the-market distributions” as defined in National Instrument 44-102 and sold through the NASDAQ Global Select Market (the “NASDAQ”) or other marketplace in the United States at the prevailing market price at the time of sale. Sales may also be made in privately negotiated transactions. No sales will be made through a stock exchange or stock market in Canada.

Aurora believes this filing will provide maximum flexibility for the Company to pursue select acquisitions going forward, including within the U.S. Aurora confirms that its current cash position remains strong at approximately $525 million as of May 13, 2021. Given the strength of Aurora’s current cash position, it is not expected to need to access the ATM Program without an accretive use of proceeds. 

Distributions of the Common Shares through the ATM Program will be made pursuant to the terms of a sales agreement dated May 19, 2021 among the Company and a syndicate of agents led by Citigroup Global Markets Inc. and Cowen and Company, LLC and including BMO Capital Markets Corp., ATB Capital Markets USA Inc. and Canaccord Genuity LLC.

A prospectus supplement (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated October 28, 2020 (the “Base Shelf Prospectus”) has been filed with the securities commissions or securities regulatory authorities in each of the provinces of Canada, except Quebec, and with the U.S. Securities and Exchange Commission (the “SEC”) as part of the Company’s registration statement on Form F-10 (the “Registration Statement”) under the U.S./Canada Multijurisdictional Disclosure System. The Prospectus Supplement, the Base Shelf Prospectus and the Registration Statement contain important detailed information about the Company and the ATM Program. Prospective investors should read the Prospectus Supplement, the Base Shelf Prospectus and the Registration Statement and the other documents the Company has filed for more complete information about the Company and the ATM Offering before making an investment decision. Copies of the Prospectus Supplement and the Base Shelf Prospectus are available on SEDAR at and copies of the Prospectus Supplement and the Registration Statement will be available on EDGAR at This news release does not constitute an offer to sell or the solicitation of an offer to buy the Common Shares, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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