Aurora Cannabis Inc. (ACBFF) Sets Record Date of Australis Capital Distribution

Aurora Cannabis Inc. (“Aurora” or the “Company”) (ACB.TO) (ACBFF) ( Frankfurt : 21P; WKN: A1C4WM) today announced that, in connection with the spin-out of its subsidiary Australis Capital Inc. (“Australis”), Aurora has set Friday August 24, 2018 as the record date for the distribution of Australis units (the “Distribution”).

Canadian shareholders as at the record date will be eligible to receive the Distribution. Non-resident shareholders will be entitled to receive a cash payment net of any applicable withholding taxes following a sale of their respective units in the open market by an independent custodian following the Distribution. Consequently, Aurora anticipates the completion of the Distribution to shareholders and the public listing of Australis on the CSE to be completed in September 2018 .

As previously announced on August 17, 2018 , the Distribution will be paid on the basis of one unit for every 34 Aurora shares outstanding on the record date. Each unit will consist of one common share and one share purchase warrant of Australis. Each warrant will entitle the holder thereof to acquire one share at an exercise price of $0.25 per Australis share, on or prior to 4:00 p.m. (Eastern Time) on the date that is one year after the Distribution.

In accordance with applicable securities laws, only Canadian beneficial shareholders can participate in the Distribution. Canadian beneficial shareholders or their broker representatives are required to confirm Canadian residency by no later than September 14, 2018 , otherwise they will be deemed to be non-resident shareholders and will receive the net cash proceeds from the sale of their units.  Canadian shareholders who hold their shares in Aurora through a brokerage or other account are therefore urged to contact their brokers to ensure that their brokers have confirmed Canadian residency in the manner to be provided by CDS following the record date.

Management Commentary

“There is massive demand for additional capital to fuel the growth of the U.S. cannabis industry, as well as intense interest among investors to gain access to the American market. We are very pleased to have created this opportunity for Aurora’s shareholders,” said Terry Booth , CEO of Aurora. “The unparalleled access to numerous compelling business opportunities in the U.S., positions Australis well to generate significant shareholder value.”

Scott Dowty , CEO of Australis, added, “We are well capitalized through our oversubscribed initial non-brokered private placement to execute on our investment strategy in the cannabis industry. The undercapitalized and fragmented nature of the U.S. cannabis industry creates ample opportunities for Australis to leverage its access to capital and secure attractively valued assets. Our teams have already begun evaluating several opportunities, and we are looking forward to responsible and sound execution post completion of the Distribution. We look forward to informing our shareholders and the market in this regard.”

Board and Management

Australis’ Board, Management team and Investment Advisory Committee have considerable financial, M&A, regulatory compliance and cannabis industry experience. The team members have deep domain expertise and a track record of success operating in highly competitive and rapidly evolving industries, consisting of the following people:

Executive Officers

Scott Dowty , CEO and Director

Mr. Dowty has 25 years of experience evaluating companies and markets to identify key business drivers, spur rapid revenue and profit growth in competitive and highly regulated global markets. Mr. Dowty has held executive and corporate officer positions with numerous publicly traded U.S. based companies, and founded several successful start-up companies in North America and abroad. Mr. Dowty’s extensive operational experience in the International fintech and gambling sectors is closely aligned to the regulatory path of the U.S. cannabis industry.

Campbell Birge, CFO

Mr. Birge has more than 20 years’ experience advising and working with public and private companies in Canada , the United States and Mexico . He is currently President and Director of  U.S. listed CTT Pharmaceutical Holdings Inc. and previously served with other U.S. based public companies as CEO, CFO and Director. Mr. Birge is well connected in the capital markets and an adviser to public companies in the cannabis industry.