Aurora Stock Slightly Down On Debt Reduction And The Launch Of Spring Product Lineup

Aurora Cannabis Inc. ACB ACB has repurchased an aggregate of approximately CA$22.3 million ($16.6 million) principal amount of its convertible senior notes in multiple transactions since the start of April 2023 at a total cash cost, including accrued interest, of CA$16.7 million and CA$5.3 million, including accrued interest, satisfied by the issuance of an aggregate ~6.35 million common shares of Aurora. In total, these transactions will save Aurora CA$2.6 million in annualized interest payments. Following completion of these repurchases, Aurora will have approximately CA$79 million of notes outstanding.

The purpose of the transactions was to reduce the company's debt and annual cash interest costs.

Spring Product Release

New products launching this April include:

San Rafael '71:

• Pink Diesel '71 (3.5g & 14g flower, 3 x 0.5g pre-rolls) – A strain crossbred from two of San Rafael '71's, Pink Kush and Driftwood Diesel. An indica delivering 24-30% THC. Hang-dried, hand-finished and hand-bottled.

• Moon Berry (3.5g & 14g flower, 3 x 0.5g pre-rolls) – A strain with a balanced 1:1 ratio of THC to CBD, Moon Berry. Bred from Aurora Medical's Vespera and Equiposa cultivars, with moderate THC and balanced CBD.

• Tangerine Dream Cured Resin Gummies (4 x 2.5mg) – Made with strain-specific cured resin from dried flower extracted using Aurora's hydrocarbon process. These sativa gummies have a sweet citrus, tangerine flavor.

Greybeard:

• DJ Melon Live Resin Diamonds & Sauce (1g) – Named after a formulation that combines KISH and AFD live resins, resulting in a melon-y aroma, DJ Melon is 99.9% THCa Diamonds smothered in a sweet terp sauce.

• Pineapple M Live Resin Diamonds & Sauce (1g) – Boasted a rich fuel and pineapple aroma, Pineapple M is 99.9% THCa Diamonds smothered in a sweet and gassy terp sauce.

• Slymer Live Resin Vape (510 - 1g) – Made from 100% pure live resin, Slymer is named for its abundant trichome production.

• Trufflez Live Resin Vape (510 – 1g) – Trufflez is made from 100% pure live resin.

Whistler Cannabis Co.:

• Organic BC Rockstar (28g flower) – Now available in a 28g format, for a limited time only. Bred from a cross of Rockstar and Bubba Kush cultivars, BC Rockstar is an indica with 20-27% THC, this flower is grown in living soil with a small-batch approach.

Daily Special

• Mondo Grape XL Vape (510 - 1g) - Delivering big grape flavor, this vape is made with a proprietary resin blend, enhanced with botanical terpenes.

The spring product release is set to roll out to patients on Aurora Medical and in adult-use retailers starting in April. Select products are available in certain regions.

Price Action

Aurora shares were trading 5.14% lower at $0.5665 per share at the time of writing Tuesday morning.

Photo: Courtesy of CNW Group/Aurora Cannabis Inc.

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