Aurora Solar Technologies Corporate Update

North Vancouver, British Columbia--(Newsfile Corp. - August 18, 2023) - Aurora Solar Technologies Inc. (TSXV: ACU) (the "Company") announces that the British Columbia Securities Commission (the "BCSC") and the Alberta Securities Commission (the "ASC") issued a failure-to-file cease trade order (a "FFCTO") against the Company as a result of the Company's failure to file its audited financial statements, management discussion & analysis and related officer certifications for the year ended March 31, 2023 (collectively, the "Required Filings").

Every effort is being made by the Company to complete the Required Filings as soon as possible and the Company believes that it will be able to complete the Required Filings prior to August 31, 2023, after which time the Company will work with the BCSC and ASC to have the FFCTO revoked and work with the TSX Venture Exchange to reinstate trading of its common shares. The delay in filing audited financial statements is directly attributed to a protracted audit process associated with the first-year accounting of the BT Imaging transaction including the purchase price allocation. At this time, the Company is not aware of any reservations by the Auditor and the audit process is at an advanced stage of being finalized.

About Aurora Solar Technologies and BT Imaging:

BT Imaging Pty Ltd. is a globally recognized technology leader in proprietary photoluminescence (PL) measurement products for material inspection and quality control throughout the solar wafer, cell and module value chain. Aurora Solar Technologies Inc. ("Aurora"), a related metrology and software company, acquired BTI with the aim to leverage its strong metrology platforms and computer vision capabilities to support its smart factory solutions that embrace emerging trends in automation and process control.

Aurora's and BTI's products are used by some of the world's most advanced and respected solar cell manufacturers. With headquarters near Vancouver, Canada, Aurora has operations in Sydney, Australia, Shanghai, China, and partners in all major solar manufacturing markets. Aurora is a public company, traded on the TSX Venture Exchange (ACU) and is a two-time TSX-V Top 50 winner. Aurora's website is located at www.aurorasolartech.com. BT Imaging's website is located at www.btimaging.com.

For further information contact:

Jake Bouma
Corporate Development
Phone: +1 (604) 317-3936
[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177804

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