Early Warning News Release of Aurora Cannabis Inc.

TSX: ACB

EDMONTON, June 1, 2018 /CNW/ - A wholly owned subsidiary company of Aurora Cannabis Inc. ("Aurora" or the "Company") (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) (the "Acquiror"), announces that on May 9, 2018, it converted a total of the 2,300,000 Subscription Receipts in the share capital of Alcanna Inc. (formerly Liquor Stores N.A. Ltd.) (the "Reporting Issuer"), at a purchase price of $15.00, for aggregate proceeds of $34,500,000.00.

Prior to the acquisition by the Acquiror of 2,300,000 common shares in the share capital of the Reporting Issuer, the Acquiror held 6,900,000 common shares in the share capital of the Reporting Issuer, representing 19.87% of the 37,019,658 issued and outstanding common shares in the share capital of the Reporting Issuer. The 6,900,000 common shares were acquired as part of the Reporting Issuer's common share non-brokered private placement at a purchase price of $15.00 per share (the "Initial Investment").

Together with the acquisition of the 2,300,000 common shares and the purchase under the Initial Investment of 6,900,000 common shares, the Acquiror holds a total of 9,200,000 common shares in the share capital of the Reporting Issuer representing 24.85% of the 37,019,658 issued and outstanding common shares in the share capital of the Reporting Issuer.

On February 14, 2018, the Reporting Issuer issued to the Acquiror, conditional upon the approval of the Reporting Issuer's shareholders (other than the Acquiror and its associates and affiliates), for no additional consideration, two classes of Share purchase warrants: (1) 10,130,000 warrants at an exercise price of $15.75 per Share for aggregate proceeds, if exercised, of $159,547,500 (the "Sunshine Warrants"); and (2) up to 1,750,000 warrants at an exercise price of $15.00 per share for aggregate proceeds, if exercised, of $26,250,000 upon conversion of any of the outstanding 4.70% convertible unsecured subordinated debentures of the Reporting Issuer which are due January 31, 2022, of which the Reporting Issuer issued on September 29, 2016 ($67.5 million principal amount of convertible unsecured subordinated debentures) and on October 4, 2016 (an additional $10.1 million upon exercise of the over-allotment option of the underwriters), for a total aggregate principal amount of $77.6 million (the "Pro Rata Warrants"), and together with the Subscription Receipts and the Sunshine Warrants (the "Additional Investment").

In reference to the Sunshine Warrants and the Pro Rata Warrants forming part of the Additional Investment, at the Reporting Issuer's annual and special meeting held on May 9, 2018, the shareholders of the Reporting Issuer approved (ii) the exercise of 10,130,000 Sunshine Warrants into common shares; and (ii) the exercise of up to 1,750,000 Pro Rata Warrants into common shares.

On the exercise of the 10,130,000 Sunshine Warrants, the Acquiror will hold 41% of the 47,149,658 issued and outstanding share capital of the Reporting Issuer.

On the exercise of the 1,750,000 Pro Rata Warrants, the Acquiror will hold 41.62% of the 50,649,658 issued and outstanding share capital of the Reporting Issuer.

The Acquiror will evaluate its investment in the Reporting Issuer from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease its shareholdings as circumstances require.

An early warning report regarding this acquisition has been filed on the System for Electronic Document Analysis and Review ("SEDAR") under the Reporting Issuer's profile and can be viewed at  www.sedar.com.

About Aurora

Aurora's wholly-owned subsidiary, Aurora Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations ("ACMPR"). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, known as "Aurora Mountain", and a second 40,000 square foot high-technology production facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal's West Island. In January 2018, Aurora's 800,000 square foot flagship cultivation facility, Aurora Sky, located at the Edmonton International Airport, was licensed. Once at full capacity, Aurora Sky is expected to produce over 100,000 kg per annum of cannabis. Aurora is completing a facility in Lachute, Quebec utilizing its wholly owned subsidiary Aurora Larssen Projects Inc.

The Company's wholly-owned subsidiary CanniMed Therapeutics Inc. ("CanniMed") is Canada's most experienced licensed producer of medical cannabis, with over 20,000 kg per annum in funded capacity. CanniMed forms the heart of Aurora's Medical Cannabis Centre of Excellence, aimed at product and market development.

Aurora also owns Berlin-based Pedanios GmbH, the leading wholesale importer, exporter, and distributor of medical cannabis in the European Union. The Company owns 51% of Aurora Nordic, which will be constructing a 1,000,000 square foot hybrid greenhouse in Odense, Denmark. The Company offers further differentiation through its acquisition of BC Northern Lights Ltd. and Urban Cultivator Inc., industry leaders, respectively, in the production and sale of proprietary systems for the safe, efficient and high-yield indoor cultivation of cannabis, and in state-of-the-art indoor gardening appliances for the cultivation of organic microgreens, vegetables and herbs in home and professional kitchens.

Aurora holds a 25% ownership interest in Alcanna Inc. ("CLIQ"), one of Western Canada's largest retail chains of liquor stores, who are developing a cannabis retail network in Western Canada. In addition, the Company holds approximately 17.23% of the issued shares in leading extraction technology company Radient Technologies Inc, and holds 52.7% of Hempco Food and Fiber Inc. Aurora is also the cornerstone investor in two other licensed producers, with a 22.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis, and a 17.62% stake in Canadian producer The Green Organic Dutchman Ltd., with options to increase to majority ownership. Finally, the Company owns a 9.14% stake in CTT Pharmaceutical, an innovative product development company within the cannabis space.

Aurora's Common Shares trade on the TSX under the symbol "ACB", and are a constituent of the S&P/TSX Composite Index.

On behalf of the Board of Directors
AURORA CANNABIS INC.
Terry Booth
CEO

SOURCE Aurora Cannabis Inc.