Aurora Cannabis Inc. (TSX: ACB) (OTCQX: ACBFF) announced today that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp., pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 16,700,000 units of the Company, at a price of $3.00 per Unit (the “Offering Price”), for aggregate gross proceeds to Aurora of $50,100,000.

Each Unit will be comprised of one common share of the Company and one common share purchase warrant. Each Warrant will be exercisable to acquire one common share (a “Warrant Share”) for a period of 3 years following the closing date of the Offering at an exercise price of $4.00 per Warrant Share, subject to adjustment in certain events.

Aurora has also granted the Underwriters an option (the “Over-Allotment Option”) to purchase up to 2,505,000 additional Units of the Company on the same terms as the Offering. If the Over-Allotment Option is exercised in full, the aggregate gross proceeds of the Offering will be $57,615,000.

Net proceeds from the Offering will be used primarily towards the Company’s strategic growth initiatives including continued domestic and international expansion, and for general working capital purposes.

“This financing ensures that we have the financial horsepower we need to keep going at full throttle, and continue seizing and capitalizing on attractive growth opportunities in Canada and around the world,” said Terry Booth, CEO. “With Aurora’s excellent balance sheet and what we believe is the strongest cash position in the industry, we are ideally positioned to further accelerate our aggressive growth strategy, further expand production capacity, and enter multiple new international markets. Aurora will continue to push the pace, with agility, innovation and disciplined execution, and set the benchmark as a globally dominant cannabis company.”

The Offering is in the form of a bought deal public offering (i) in each of the provinces of Canada (other than Quebec), (ii) in the United Statesonly 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 Common Shares, Warrants, Warrant Shares of the Issuer.

Closing of the Offering is expected to occur on or about November 2, 2017 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.