NYSE | TSX: ACB
EDMONTON, AB, Oct. 28, 2020 /PRNewswire/ - Aurora Cannabis Inc.
(the "Company" or "Aurora") (NYSE | TSX: ACB), the Canadian company
defining the future of cannabinoids worldwide, announced today that
it has scheduled a conference call to discuss the results for its
first quarter fiscal year 2021 ended September 30, 2020 on Monday, November 9, 2020 at 8:30 a.m. Eastern Time. Miguel Martin, Chief Executive Officer, and
Glen Ibbott, Chief Financial
Officer, will host the call and a question and answer period. The
Company will report its financial results for the first quarter
before the open of markets on Monday,
November 9, 2020.
First Quarter
Fiscal Year 2021 Conference Call Details
|
DATE:
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Monday, November 9,
2020
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TIME:
|
8:30 a.m. Eastern
Time | 6:30 a.m. Mountain Time
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WEBCAST:
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http://public.viavid.com/index.php?id=142058
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Updates to Director Compensation Plans
To support the Company's goal of fair and competitive
compensation, Aurora has formalized certain existing compensation
principles in its share compensation plans regarding, in
particular, non-employee Director compensation.
Beginning in July 2019, the
Company implemented an annual maximum of $150,000 of equity compensation for non-employee
directors. The Company has now codified this as a key term in the
Company's share compensation plans, including, the RSU, DSU and
Stock Option Plan. The new amendments provide that non-employee
Directors' compensation will be limited to no more than
$150,000 in equity awards per year,
of which no more than $97,500 can be
in the form of stock options. This limit applies to all equity
awards received by non-employee Directors, except for the portion
of their annual cash retainer and board fees elected to be received
in Deferred Share Units ("DSUs").
Additionally, the Company has added a restriction in the
Deferred Share Unit Plan that prohibits the Company from granting
DSUs to the non-employee directors on a discretionary basis.
Finally, and in line with the Company's objective of achieving
and maintaining fair and competitive compensation, the Company has
implemented a Performance Share Unit Plan, which is subject to
shareholder approval at the Company's Annual and Special General
Meeting on November 12, 2020.
Pursuant to the terms of the Performance Share Unit Plan, non
-employee Directors are not eligible to participate.
About Aurora
Aurora is a global leader in the cannabis industry serving both
the medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in
global cannabis dedicated to helping people improve their lives.
The Company's brand portfolio includes Aurora, Aurora Drift, San
Rafael '71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler,
and Reliva. Providing customers with innovative, high-quality
cannabis and hemp products, Aurora's brands continue to break
through as industry leaders in the medical, performance, wellness
and recreational markets wherever they are launched. For more
information, please visit our website at www.auroramj.com.
Aurora's Common Shares trade on the TSX and NYSE under the
symbol "ACB", and is a constituent of the S&P/TSX Composite
Index.
Forward Looking Statements
This news release includes statements containing certain
"forward-looking information" within the meaning of applicable
securities law ("forward-looking statements").
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 forward-looking
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, estimates and
assumptions of management in light of management's experience and
perception of historical trends, current conditions and expected
developments at the date the statements are made, such as current
and future market conditions, the ability to maintain SG&A
costs in line with current expectations, the ability to achieve
high margin revenues in the Canadian consumer market, the current
and future regulatory environment and future approvals and permits.
Forward-looking statements are subject to a variety of risks,
uncertainties and other factors that management believes to be
relevant and reasonable in the circumstances could cause actual
events, results, level of activity, performance, prospects,
opportunities or achievements to differ materially from those
projected in the forward-looking statements, including the risks
associated with: entering the U.S. market, the ability to realize
the anticipated benefits associated with the acquisition of Reliva,
achievement of Aurora's business transformation plan, general
business and economic conditions, changes in laws and regulations,
product demand, changes in prices of required commodities,
competition, the effects of and responses to the COVID-19 pandemic
and other risks, uncertainties and factors set out under the
heading "Risk Factors" in the Company's annual information form
dated September 24, 2020 (the
"AIF") and filed with Canadian securities regulators
available on the Company's issuer profile on SEDAR at
www.sedar.com and filed with and available on the SEC's
website at www.edgar.gov. The Company cautions that the list of
risks, uncertainties and other factors described in the AIF is not
exhaustive and other factors could also adversely affect its
results. Readers are urged to consider the risks, uncertainties and
assumptions carefully in evaluating the forward-looking statements
and are cautioned not to place undue reliance on such information.
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 securities
law.
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SOURCE Aurora Cannabis Inc.