Aurora Announces Amendment to Unsecured Convertible Debentures

/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

CSE:ACB

VANCOUVER, July 28, 2016 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (CSE: ACB) (OTCQB: ACBFF) (Frankfurt:  21P; WKN: A1C4WM) announces that further to its news releases dated May 11, 2016 and May 24, 2016, it has reached an agreement with the holders (the "Debentureholders") of the Company's outstanding unsecured convertible debentures (the "Debentures") pursuant to which the Debentureholders have agreed to amend certain aspects of the anti-dilution clause which required the Company to make a cash payment (or to issue additional Debentures in lieu thereof) to the Debentureholders if the Company issued common shares in connection with a financing or an acquisition at a price 15% or below the conversion price of the Debentures.

As consideration for the Debenture amendment, the Company shall reduce the conversion price of the Debentures from $0.53 per share to $0.40 per common share. In addition, the Company agreed to issue an aggregate of 2,712,500 warrants to the Debentureholders at a price of $0.55 per common share for a period of two years from the date of issuance of the warrants. All other terms of the Debentures remain unchanged.

The Debenture amendment and issuance of warrants are conditional upon and subject to completion of the Offering announced in the Company's news release dated July 18, 2016 and receipt of all necessary regulatory approvals.

On behalf of the Board of Directors,
AURORA CANNABIS INC.

Terry Booth
CEO

This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under 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.

The CSE or other regulatory authority has not reviewed, approved or disapproved the contents of this press release. We seek Safe Harbour.

SOURCE Aurora Cannabis Inc.

Cam Battley, Senior VP, Communications and Medical Affairs, +1.905.864.5525, [email protected], www.auroramj.com; Marc Lakmaaker, NATIONAL Equicom, [email protected], +1.416.848.1397