Newly created directorship to be filled by
Chitwant Kohli, Senior Financial Executive
NASDAQ | TSX: ACB
EDMONTON, AB, Jan. 4, 2022 /PRNewswire/ - Aurora Cannabis Inc.
(the "Company" or "Aurora") (NASDAQ: ACB) (TSX: ACB),
the Canadian company defining the future of cannabinoids worldwide,
announced today the appointment of Chitwant Kohli to
the Company's Board of Directors (the "Board"),
effective today. This is a newly added
position that expands the Board to
nine members, seven of whom are independent.
Mr. Kohli joins the Board following a fulsome career as a senior
financial executive with significant experience in finance,
strategic planning, real estate, and operations. After 29 years of
service at Royal Bank of Canada
(RBC) where he enhanced the company's industry leading position,
Mr. Kohli retired as Senior Vice President of Enterprise Operations
and Payments. In his last role at RBC, Mr. Kohli led a global team
of 1,800 members and was responsible for operating and expanding
the Shared Services of Payments and Trade, Cash Processing, Human
Resources and Finance related services. Mr. Kohli also held key
executive roles including Senior Vice President of Retail Finance
where he was responsible for providing finance leadership for
Canadian, U.S. and Caribbean Banking, Wealth Management, Insurance,
Technology and Operations, and Global Functions.
Ronald Funk, Chairman of
Aurora Cannabis stated, "It is with great excitement that we begin
the new year by welcoming Chitwant to our Board of Directors. He
offers a tremendous wealth of knowledge and executive leadership
experience in the banking sector which will help further accelerate
Aurora's sustainable, long-term growth. With his expertise in
finance and accounting, costing and profitability, real estate,
operations and performance management, Chitwant will be
instrumental to our progressive agenda, lending his deep experience
that is needed as we progress on our business transformation
plan."
Mr. Kohli possesses over eight years of board experience
including Chair of The Board of Directors at Exchange Bank of
Canada, and Board Member at
Trillium Health Partners, Currency Exchange International and
Moneris Inc. He is a Chartered Professional Accountant (CPA, CMA),
holds a Master of Laws (GPLLM) and ICD.D from University of Toronto and a Master of Business
Administration (MBA).
In addition, Theresa Firestone,
appointed Independent Director in July
2021 will take on the role of Committee Chair for the Human
Resources and Compensation Committee (HRCC), effective today.
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, MedReleaf, CanniMed, Whistler, Reliva and KG7
CBD. Driven by science and innovation, and with a focus on
high-quality cannabis products, Aurora's brands continue to break
through as industry leaders in the medical,
performance, wellness and adult recreational markets
wherever they are launched. Learn more
at www.auroramj.com and follow us
on Twitter and LinkedIn.
Aurora's common shares trade on the NASDAQ and TSX under the
symbol "ACB" and is a constituent of the S&P/TSX Composite
Index.
Forward-looking Information
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. Forward-looking statements made in
this news release include, but are not limited to,
statements regarding the Company's progress related to its
business transformation plan. These forward-looking statements are
only predictions. Forward looking information or statements
contained in this news release have been developed based
on assumptions management considers to be reasonable.
Material factors or assumptions involved in developing
forward-looking statements include, without limitation, publicly
available information from governmental sources as well as from
market research and industry analysis and on assumptions based on
data and knowledge of this industry which the Company believes to
be reasonable. 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. These risks
include, but are not limited to, the ability to retain key
personnel, the ability to continue investing in infrastructure to
support growth, the ability to obtain financing on acceptable
terms, the continued quality of our products, customer experience
and retention, the development of third party government and
non-government consumer sales channels, management's
estimates of consumer demand in Canada and in jurisdictions where the Company
exports, expectations of future results and expenses, the risk
of successful integration of acquired business and operations,
management's estimation that SG&A will grow only in proportion
of revenue growth, the ability to expand and maintain distribution
capabilities, the impact of competition, the general impact of
financial market conditions, the yield from cannabis growing
operations, product demand, changes in prices of required
commodities, competition, and the possibility for changes in laws,
rules, and regulations in the industry, epidemics, pandemics or
other public health crises, including the current outbreak of
COVID-19, and other risks, uncertainties and factors set out
under the heading "Risk Factors" in the Company's annual
information form dated September 27,
2021 (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.sec.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.