Aurora Cannabis Reveals Operational & Balance Sheet Improvements

<br /> Aurora <a title class="aalmanual" target="_blank" href="" rel="noopener">Cannabis</a> Reveals Operational & & Balance Sheet Improvements.<br />

Modified Credit Center Terms Supports Execution of Service Improvement Strategy that Concentrates On Long-Term, Sustainable Income Development & & Improving Operating Cashflow.

  • Credit center terms enhanced consisting of maturity extension to.

    December 2022.

  • ~$ 450 million.

    of money on balance sheet & & enhancing cashflow positions business to drive sustainable, long-lasting profits development.

  • Production volumes now lined up to sales by embracing a more nimble, variable expense design.

  • Expects financial 2021 Q2 Adjusted EBITDA loss to enhance from Q1 regardless of a renewal of Covid-19 limitations in crucial markets.




Dec. 16, 2020.

/ PRNewswire/ – Aurora Cannabis Inc. (the “Business” or “Aurora”) (NYSE: ACB) (TSX: ACB), the Canadian business specifying the future of cannabinoids worldwide, today supplied a company upgrade.

Aurora Cannabis Inc. Logo (CNW Group/Aurora Cannabis Inc.)

” Our considerable liquidity position has actually allowed us to modify our credit center terms by extending maturity and transitioning us from a minimum EBITDA covenant to a minimum liquidity covenant, therefore supplying us with the monetary versatility we require to perform our organization improvement strategy. We are currently seeing development with enhancing cashflow and item successes such as the current relaunch of our vapour portfolio. We are likewise driving our customer technique that will work as a structure for sustainable profits development and success over the long-lasting” specified.

Miguel Martin.

, Ceo of Aurora.

” We are transferring to a more variable expense structure in growing by broadening our network of external supply and properly downsizing production from our set possession network. Particularly, in November we closed our Aurora Sun center and are now downsizing production at Aurora Sky to 25% of its previous capability. At this level of production, we plan to change the Sky center into a high-value growing center for our premium stress, and in turn, much better align production with existing need for premium flower.”.

” Our strategy to deal with the chances in the Canadian customer market, integrated with a powerful balance sheet, positions Aurora to stay the leader by profits in the high-margin Canadian medical market. It likewise enables the Business to buy the global medical organization, which is showing strong development. Finally, we will have the ability to develop on our CBD brand name Reliva, which is # 1 ranked by Nielsen in U.S. CBD.”.

Amended Credit Center and Money Balance Offers Runway for Development.

The Business is happy to reveal that it has actually reached a contract, based on conclusive documents, relating to a 2nd modified and reiterated credit center (the “Arrangement”) with its existing distribute of loan providers. Offered Aurora’s considerable liquidity position the Arrangement offers Aurora with higher monetary versatility to carry out business improvement strategy by transitioning the center to a minimum liquidity covenant instead of a minimum EBITDA covenant and extends the maturity to.

December 31, 2022.


There are no modifications to the dedication amounts under the center which presently stand at.

$ 101.2 million.

under the term loan and.

$ 15 million.

under the revolver (presently.

$ 2 million.

drawn). The 2nd modified and reiterated credit center has a very first ranking basic security interest in the properties of Aurora and can be paid back without charge at the Business’s discretion.

The Arrangement is asserted on the Business’s “back to fundamentals” controlled customer packaged products technique. This technique will postpone the Business’s capability to attain favorable Adjusted EBITDA as management buys its customer organization; a technique that the Business thinks will work as a structure for sustainable development and success in the future. Likewise adding to the success hold-up is the unpredictability of the existing need environment, consisting of the renewal of COVID-19. Nevertheless, with.

~$ 450 million.

in money on hand since.

December 15, 2020.

, management is positive in its liquidity position and its capability to money its existing strategy, while preserving optionality for future chances.

Justifying Production Technique with Business Technique.

Aurora is increasing its functional versatility to enhance its cashflow and much better address customer requirements. This involves moving to a more variable expense structure, leveraging outsourcing, and checking out chances to increase throughput of high margin premium items.

The Business has actually broadened its network of external supply by carrying out area acquiring of outsourced third-party supply. Aurora anticipates to even more broaden external supply of dried flower throughout its brand name architecture to lower growing dangers and enhance its money conversion cycle.

Aurora Sun & & Aurora Sky Facilities.


December 15, 2020.

, the Business has actually shuttered operations at the Aurora Sun center and minimized production at its Aurora Sky center by 75%. Aurora Sky is checking brand-new procedures and methods shown effective at other growing websites in Aurora’s leading network, integrated with increased concentrate on development led by deep plant science and genes competence.

Mr. Martin concluded “These tough choices are being required to enhance cashflow and offer dexterity to our organization. We will continue to make choices and change Aurora in the long-lasting benefits of our investors. We eagerly anticipate 2021 and supplying updates on our organization improvement.”.

About Aurora.

Aurora is an international leader in the cannabis market serving both the medical and customer markets. Headquartered in.

Edmonton, Alberta.

, Aurora is a leader in international cannabis devoted to assisting individuals enhance their lives. The Business’s brand name portfolio consists of Aurora, Aurora Drift, San Rafael ’71, Daily Unique, AltaVie, MedReleaf, CanniMed, Whistler, and RelivaCBD Supplying consumers with ingenious, premium cannabis items, Aurora’s brand names continue to break through as market leaders in the medical, efficiency, health and leisure markets anywhere they are introduced. To learn more, please visit our site at.


Aurora’s typical shares trade on the TSX and NYSE under the sign “ACB”, and is a constituent of the S&P/ TSX Composite Index.

Forward Looking Declarations.

This press release consists of declarations consisting of particular “positive info” within the significance of suitable securities law (“.

positive declarations.

“). Positive declarations are often identified by words such as “strategy”, “continue”, “anticipate”, “job”, “plan”, “think”, “prepare for”, “price quote”, “might”, “will”, “prospective”, “proposed” and other comparable words, or declarations that particular occasions or conditions “might” or “will” happen. Positive declarations made in this press release consist of declarations relating to: downsizing and shift of operations at Aurora Sky and the expected results on the Business’s organization as an outcome thereof; the expected results of the changes to the Credit Center on the Business’s organization, and the expected justification of the Business’s production technique with its industrial technique, and the results on the These positive declarations are just forecasts. Different presumptions were utilized in drawing the conclusions or making the forecasts included in the positive declarations throughout this press release. Forward looking declarations are based upon the viewpoints, price quotes and presumptions of management due to management’s experience and understanding of historic patterns, existing conditions and anticipated advancements at the date the declarations are made, such as existing and future market conditions, the capability to keep SG&An expenses in line with existing expectations, the capability to attain high margin profits in the Canadian customer market, the existing and future regulative environment and future approvals and licenses. Positive declarations undergo a range of dangers, unpredictabilities and other elements that management thinks to be appropriate and sensible in the scenarios might trigger real occasions, outcomes, level of activity, efficiency, potential customers, chances or accomplishments to vary materially from those predicted in the positive declarations, consisting of the dangers related to: getting in the U.S. market, the capability to understand the expected advantages related to the acquisition of Reliva, accomplishment of Aurora’s organization improvement strategy, basic organization and financial conditions, modifications in laws and policies, item need, modifications in costs of needed products, competitors, the results of the COVID-19 pandemic and actions of Federal governments to the COVID-19 pandemic, and other dangers, unpredictabilities and elements set out under the heading “Danger Elements” in the Business’s yearly info kind dated.

September 24, 2020.

( the “.


“) and submitted with Canadian securities regulators offered on the Business’s company profile on SEDAR at.

and submitted with and offered on the SEC’s site at.

. The Business warns that the list of dangers, unpredictabilities and other elements explained in the AIF is not extensive and other elements might likewise negatively impact its outcomes. Readers are prompted to think about the dangers, unpredictabilities and presumptions thoroughly in assessing the positive declarations and are warned not to position excessive dependence on such info. The Business is under no commitment, and specifically disclaims any objective or commitment, to upgrade or modify any positive declarations, whether as an outcome of brand-new info, future occasions or otherwise, other than as specifically needed by suitable securities law.

The Business utilizes monetary procedures concerning itself, such as Adjusted EBITDA, that do not have standardized significance under the International Financial Reporting Standards (” IFRS”) and might not be similar to comparable procedures provided by other entities (” non-IFRS procedures”). Additional info connecting to non-IFRS procedures, is set out in the Business’s management conversation and analysis for the 3 months ended.

September 30, 2020.

and 2019 under the heading “Cautionary Declaration Concerning Non-GAAP Efficiency Procedures” and the “Income” area for reconciliation to the IFRS equivalent.

View initial material to download multimedia:.– announces-operational– balance-sheet-improvements-301193919. html.

SOURCE Aurora Cannabis Inc.

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