Aurora Cannabis Inc. Common Shares - ACB STOCK NEWS

Aurora Cannabis (NASDAQ: ACB) announced an exciting new product lineup set to launch in April 2023, featuring original cultivars and strain-specific products aimed at both medical patients and recreational consumers. The new offerings include:

• Pink Diesel '71 and Moon Berry flower strains from Aurora's breeding program.
• Tangerine Dream Cured Resin Gummies infused with strain-specific cured resin.
• Slymer and Trufflez Live Resin Vapes.

The expansion aims to meet the increasing demand for high-quality cannabis products, leveraging Aurora's genetics and research capabilities. Vice President Lana Culley emphasizes a commitment to innovation and quality, aiming to resonate with both consumer expectations and market trends.

Aurora Cannabis has recently repurchased approximately $22.3 million of its convertible senior notes, with a total cash cost of $16.7 million. This strategic move is aimed at reducing debt and annual cash interest expenses, leading to expected savings of $2.6 million annually. Since December 2021, Aurora has repurchased a total of $385 million in notes, realizing annual cash interest savings of around $21 million. The company now holds approximately $79 million in outstanding notes, reinforcing its strong balance sheet, which is among the best in the Canadian cannabis sector. Aurora continues to focus on profitable growth in both the global medical and Canadian adult-use markets.

Aurora Cannabis (NASDAQ: ACB) and MedReleaf Australia have launched IndiMed Tempo 26, a new line of higher THC dried cannabis products for medical patients under the MedReleaf Concession Scheme (MCS). This initiative aims to enhance patient choice and accessibility to medical cannabis in Australia. Tempo 26 expands the product offerings available to doctors, allowing for more flexible prescriptions. The MCS provides discounted products for patients with certain concession cards, making it easier for those facing serious health conditions to access necessary treatments. Aurora holds a 10% stake in MedReleaf Australia, which is committed to high-quality cannabis cultivation.

Aurora Cannabis (ACB) has successfully repurchased approximately $46.6 million of its convertible senior notes for $45.6 million in cash, saving $2.6 million in annual interest payments. This repurchase, executed at a 2.5% discount to par value, is part of Aurora's strategy to enhance financial discipline and reduce debt. Since December 2021, the company has repurchased a total of $366 million in notes, leading to annual savings of $20 million. Aurora's balance sheet remains among the strongest in the Canadian cannabis sector, with a focus on profitable growth in medical and adult-use markets.

Aurora Cannabis Inc. (NASDAQ: ACB) received a notification letter from Nasdaq on March 24, 2023, indicating non-compliance with the Minimum Bid Price Requirement due to its share price closing below US$1.00 for 30 consecutive business days (from February 8 to March 23, 2023). The Company has until September 20, 2023, to regain compliance. If the share price closes at or above US$1.00 for ten consecutive business days, Nasdaq will notify that compliance has been achieved. This notification does not affect daily trading or listings on the Toronto Stock Exchange, and Aurora plans to monitor its share price to resolve this deficiency.

Aurora Cannabis Inc. (NASDAQ: ACB) announced the filing of a new preliminary short form base shelf prospectus with Canadian securities regulators, excluding Quebec, on March 17, 2023. This Base Shelf Prospectus aims to replace the existing one and will qualify the issuance of up to U.S. $650 million in various securities over a 25-month period. Approximately U.S. $412 million is allocated for the potential exercise of outstanding warrants, leaving about U.S. $238 million for new issuances. The release emphasizes that this announcement does not constitute an offer of securities for sale.

Aurora Cannabis Inc. (NASDAQ: ACB) has launched a new cannabis cultivar, Valour, specifically designed for veterans. This product, marketed under the MedReleaf brand, features genetics from Chemdawg, OG18, and Skunk, with THC levels ranging from 20-26%. Five percent of Valour's net profits will support veteran organizations across Canada, with a cap of $200,000 per year. Valour aims to meet veterans' needs by embodying their preferred traits in aroma and flavor. The initiative highlights Aurora's commitment to the veteran community and aims to foster significant contributions to organizations providing essential support to veterans.

Aurora Cannabis Inc. (NASDAQ: ACB, TSX: ACB) and MedReleaf Australia have launched CraftPlant, a new medical cannabis brand for Australian patients. This brand features three THC-dominant strains—Greendae, Navana, and HiVolt—developed from premium cultivars by Aurora's science division, Occo. The products are produced under strict EU-GMP guidelines and are available in 10g containers. Aurora holds a 10% stake in MedReleaf Australia and aims to enhance its presence in the promising Australian market. The partnership increases the total MedReleaf products available for Australian doctors to 27, offering diverse treatment solutions.

Aurora Cannabis (ACB) reported a Q2 2023 net revenue of $61.7 million, a 25% increase from Q1 2023, driven by growth across all cannabis segments and a full contribution from Bevo Agtech Inc. Additionally, the company achieved a positive Adjusted EBITDA of $1.4 million, marking a significant turnaround from previous losses. Aurora has realized approximately $340 million in annual cost savings since early 2020 and reduced debt by $302 million in 2022. Despite a net loss of $67.2 million, the company maintains a net cash position, with approximately $310 million in cash as of February 2023.