Mr. Terry Booth reports

AURORA CANNABIS ANNOUNCES $200 MILLION BOUGHT DEAL FINANCING

Aurora Cannabis Inc. has entered into an agreement with a syndicate of underwriters, led by Canaccord Genuity Corp., pursuant to which Canaccord Genuity has agreed to purchase, on a bought deal basis, 200,000 convertible debentures, at a price of $1,000 per initial convertible debenture, for gross proceeds of $200-million.

Aurora has also granted Canaccord Genuity an option, exercisable up to 30 days after closing of the offering, to purchase up to an additional 30,000 convertible debentures for additional gross proceeds of $30-million. If the option is exercised in full, the aggregate gross proceeds of the offering will be $230-million.

The convertible debentures will have a maturity date of two years from the closing date of the offering and will bear interest from the date of closing at 5.0 per cent per annum, payable semi-annually on June 30 and Dec. 31 of each year. The convertible debentures will be convertible, at the option of the holder, into common shares of the company at any time prior to the close of business on the last business day immediately preceeding the maturity date at a conversion price of $13.05 per common share. The company may force the conversion of the principal amount of the then outstanding convertible debentures at the conversion price on not less than 30-day notice should the daily volume-weighted average trading price of the common shares be greater than $17 for any 10 consecutive trading days.

"This is the largest bought deal financing to date in the Canadian cannabis sector, and represents a tremendous vote of confidence in Aurora's business strategy, consistent execution and accretive deployment of resources," said Terry Booth, chief executive officer. "Our unparalleled balance sheet, capital markets strength and consistently decreasing cost of capital position us ideally to execute on multiple attractive opportunities in Canada and around the world."

Upon a change of control of the company, holders of the convertible debentures will have the right to require the company to repurchase their convertible debentures, in whole or in part, on the date that is 30 days following the giving of notice of the change of control, at a price equal to 104 per cent of the principal amount of the convertible debentures then outstanding plus accrued and unpaid interest thereon. If 90 per cent or more of the principal amount of the convertible debentures outstanding on the date of the notice of the change of control have been tendered for redemption, the company will have the right to redeem all of the remaining convertible debentures at the offer price.

The offering is in the form of a bought deal public offering: (i) in each of the provinces and territories of Canada (other than Quebec); (ii) in the United States only to qualified institutional buyers (within the meaning of Rule 144A), and in each case in compliance with the securities laws of the applicable states of the United States, to investors that the underwriters have reasonable grounds to believe and do believe are qualified institutional buyers; and (iii) outside Canada and the United States on a basis which does not require the qualification or registration of any of the convertible debentures or common shares.

Closing of the offering is expected to occur on or about Jan. 31, 2018. The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of Toronto Stock Exchange.

About Aurora Cannabis Inc.

Aurora's wholly owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR). The company operates a 55,200-square-foot, state-of-the-art production facility in Mountain View county, Alberta, known as Aurora Mountain, a second 40,000-square-foot high-technology production facility known as Aurora Vie in Pointe-Claire, Que., on Montreal's West Island and is currently constructing an 800,000-square-foot production facility, known as Aurora Sky, at the Edmonton International Airport, and is completing a fourth facility in Lachute, Que., through its wholly owned subsidiary Aurora Larssen Projects Ltd.

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