Aurora Cannabis Announces Financial Results for Fourth Quarter and Fiscal Year 2019

Selling and general expenses in the fourth quarter of 2019 increased 9% from the prior quarter to $ 72.9 million. This is mainly due to increased execution and shipping costs related to the growth of cannabis sales and continued investments in sales initiatives, distribution network and partnerships to conduct research, develop products and build brand awareness. Aurora will continue to invest in the infrastructure and talent needed to grow its market share in the global medical and consumer cannabis markets, but will remain extremely focused on its business as effectively as possible.

In the fourth quarter of 2019, adjusted EBITDA was up 68%, from $ 36.6 million in the first quarter to $ 11.7 million. Developing a profitable and robust global cannabis company is extremely important for Aurora. During the 2019 fiscal year, Aurora has focused on excellence in execution and the company's key performance indicators attest to its success in this regard. In addition, Aurora has corrected the production bottlenecks previously identified and continues to see a strong sale of the company's products at the retail level. However, the Canadian consumer network continues to face retail challenges in key markets and the resolution of this problem is beyond the control of the Company. Aurora is working closely with all of our regulatory and partner partners to streamline distribution, while the Company continues to pursue positive adjusted EBITDA on a consolidated basis.

The current annualized production capacity of the company's operating facilities exceeds 150,000 kg per year, based on planted rooms. As the industry leader in bespoke culture, Aurora focuses on producing a consistent supply of high quality, low cost products to meet growing market demand. Aurora is well positioned to respond quickly to market conditions with shorter lead times, longer harvest cycles and higher yields.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Outlook & nbsp; "data-reactid =" 82 ">Perspective; view; vision; horizon

The global cannabis and hemp markets represent a significant opportunity for Aurora and the company will continue to make the necessary investments today to create long-term shareholder value. However, Aurora will take a balanced approach to these investments with a focus on operating a sustainable and profitable business.

The introduction of new product formats in the Canadian consumer market this fall represents an important opportunity for society. Aurora expects a robust product line to be ready for launch in December. Given the very early stage of development of the Canadian consumer market and international medical markets, management anticipates that sales volumes and revenues from one quarter to the next could be volatile. The company expects adjusted EBITDA to continue to improve in the future as a result of anticipated product growth, improved gross margins and improved revenues. prudent growth in selling, administrative and other overhead expenses.

The adoption of the US Farm Bill offers new opportunities in the world's largest cannabis and hemp-based CBD market and, as such, Aurora is committed to creating a substantial operational footprint in the United States. As part of the US market strategy, the company is considering stakeholders and how various national and federal regulations will affect its business prospects. A number of solutions to increase Aurora's presence in the US market are being evaluated and the Company commits to only engaging in activities permitted by federal and federal laws. Management believes that there are currently legal market opportunities at the federal and state levels that can increase cash flow from operations and be key pillars of the long-term strategy and success of the company. # 39, Aurora.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Conference call"data-reactid =" 86 ">Conference call

Aurora will hold a teleconference tomorrow, September 12, 2019, to discuss these results. Terry Booth, Managing Director, Glen Ibbott, Chief Financial Officer, Cam Battley, Managing Director, and Michael Singer, Executive Chairman, will host the conference call from 9:00 am Eastern Time. A question and answer session will follow the presentation of the management.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "About Aurora & nbsp;"data-reactid =" 91 ">About Aurora

Headquartered in Edmonton, Alberta, Canada, with a financing capacity exceeding 625,000 kg per year and sales and operations in 25 countries on five continents, Aurora is one of the largest and most important companies in the world. of cannabis in the world. Aurora is vertically integrated and horizontally diversified across all key segments of the value chain, from engineering and facility design to research on cannabis selection and genetics, cannabis production and hemp, derivatives, development of high added value products, home grown, wholesale and retail.

Highly differentiated from its peers, Aurora has implemented a particularly advanced, consistent and efficient production strategy, based on facilities specifically designed to integrate state-of-the-art technologies into all processes, defined by extensive automation and customization, enabling large-scale production of product of constant quality. Designed to be replicated and scalable globally, our production facilities are designed to produce cannabis on a significant scale, with high quality, peak yields and low production costs per gram. Each of the Aurora facilities is built to meet the standards of the European Union's Good Manufacturing Practices ("GMP of the EU"). Certification was awarded at Aurora's first production facility in Mountain View County, at the MedReleaf Markham facility, and at its European medical cannabis distributor, Aurora Deutschland. All Aurora installations are designed and built in accordance with the European GMP standard.

<p class = "web-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In addition to the rapid organic growth of society and its strong execution on strategic M & A, which to date includes 17 wholly-owned subsidiaries – MedReleaf, CanvasRX, Peloton Pharmaceutical, Aurora Deutschland, Biopharma H2, BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics, Anandia, HotHouse Consulting, MED Colombia, Agropro, Borela, ICC Labs, Whistler, Chemi Pharmaceutical and Hempco – Aurora stands out by its reputation as a partner and employer of choice in the global cannabis industry, having invested in and established strategic partnerships with a range of leading innovators, including: Radient Technologies Inc. (RTI.V), Cann Group Ltd. (CAN.AX), Micron Waste Technologies Inc. (CSE: MWM), Choom Holdings Inc. (CSE: CHOO), CTT Pharmaceuticals (CTTH), Alcanna Inc. (CLIQ.TO), High Tide Inc. (CSE: HITI), EnWave Corporation (ENW.V), Capcium Inc. (private sector), Evio Beauty Group (private sector) and Wagner Dimas (private sector). "Data-reactid =" 94 "> In addition to the company's rapid organic growth and the successful execution of its strategic mergers and acquisitions, which includes 17 wholly-owned subsidiaries – MedReleaf, CanvasRX, Peloton Pharmaceutical, Aurora Deutschland, H2 Biopharma, BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics, Anandia, HotHouse Consulting, MED Colombia, Agropro, Borela, ICC Laboratories, Whistler, Chemi Pharmaceutical and Hempco – Aurora stand out for their reputation as partners and employers of choice in global cannabis industry, having invested in strategic partnerships with a range of leading innovators, including: Radient Technologies Inc. (RTI.V), Cann Group (CAN.AX), Micron Waste Technologies Inc. (CSE: MWM), Choom Holdings Inc. (CSE: CHOO), CTT Pharmaceuticals (CTTH), Alcanna Inc. (CLIQ.TO), High Tide Inc. (CSE: HITI), EnWave Corporation (ENW.V), Capcium Inc. ( private), Evi o Beauty Group (private) and Wag ner Dimas (private).

The Aurora common shares trade on the TSX and the NYSE under the symbol "ACB" and are part of the S & P / TSX Composite Index.

<p class = "canvas-atom web-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "For more information about Aurora, please visit our investor website, investisseur.auroramj.com"data-reactid =" 96 "> For more information about Aurora, please visit our investor website, investor.auroramj.com

Terry Booth, CEO

Aurora Cannabis Inc.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Forward-Looking Statements and Non-IFRS Sector Measures"data-reactid =" 99 ">Forward-Looking Statements and Non-IFRS Sector Measures

This press release refers to certain non-IFRS measures, including certain industry parameters. These measures and measures are not recognized. The measures under IFRS do not have the meanings prescribed for them and, therefore, are unlikely to be comparable to similar measures presented by other companies. These measures are provided as additional information to these IFRS measures by providing a better understanding of our operating results from a management perspective. As such, these measures should not be viewed in isolation or as an alternative to reviewing our financial information presented under IFRS. This press release uses non-IFRS measures, including "net cannabis product", "adjusted EBITDA", "cannabis inventory and biological assets", "production cost per gram sold", "selling price" average net per gram "," production capacity "and" SG & A ". The above measures are commonly used operating measures in the industry, but can be calculated differently from other firms in the industry. These non-IFRS measures, including industry measures, are used to provide investors with additional measures of our operating performance that may not be apparent if they were based solely on IFRS measures. Definitions of non-IFRS measures are included in our financial statements, MD & A and this press release.

This press release also contains statements containing certain "forward-looking information" within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are often characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate" "," may "," will "be", "potential", "proposed" and similar words, or statements indicating that certain events or conditions "may" or "occur" and will include, but are not limited to, the following: execution of final agreements and closing of the transaction. These statements are only predictions. Various assumptions have been used to draw the conclusions or projections contained in the forward-looking statements throughout this press release. Forward-looking statements are based on management's beliefs and beliefs as of the date they are made and are subject to various risks, uncertainties and other factors that could cause actual events to differ materially from those projected. in the future. statements-looking. These risks include, but are not limited to, the ability to retain key personnel, the ability to continue to invest in infrastructure to support growth, the ability to obtain financing on terms and conditions. acceptable, the continued quality of our products, experience and customer loyalty, development of third party governmental and non-governmental sales channels, management's assessment of consumer demand in Canada and in countries where the company exports, forecasts on future results, expenditures, availability of additional capital to complete construction projects and improve facilities, the risk of successful integration of activities and operations acquired, the ability to develop and maintain the distribution capabilities, the impact of competition and the possibility of changes to existing laws, rules and regulations in the area. The Company has no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. .

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "NOTThe TSX, the NYSE or their applicable regulatory service providers (as that term is defined in the policies of the Toronto Stock Exchange and the New York Stock Exchange) are responsible for the adequacy or accuracy of this press release."data-reactid =" 102 ">NOTThe TSX, the NYSE or their applicable regulatory service providers (as that term is defined in the policies of the Toronto Stock Exchange and the New York Stock Exchange) are responsible for the adequacy or accuracy of this press release.

More

<p class = "web-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "View original content to download multimedia:http://www.prnewswire.com/news-releases/aurora-cannabis-announces-financial-results- for-the-fourth-quarter-and-2019-fiscal-year-300916447.html"data-reactid =" 134 "> View original content for multimedia download: http: //www.prnewswire.com/news-releases/aurora-cannabis-announces-financial-results-for-the-fourth-quarter-and – 2019-exercise-300916447.html

SOURCE Aurora Cannabis Inc.

<p class = "web-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "View original content to download multimedia: http://www.newswire.ca/fr/releases/archive/September2019/11/c4413.html"data-reactid =" 153 "> View original multimedia content: http://www.newswire.ca/en/releases/archive/September2019/11/c4413.html