[PRESS RELEASE] – EDMONTON, Alberta, Oct. 26, 2026 – Aurora Cannabis Inc., the Canadian-based leading global medical cannabis company, shared that the application made by Curaleaf Holdings Inc. to halt Aurora's at-the-market (ATM) program was dismissed by the Alberta Securities Commission.
This positive result supports Aurora's view that Curaleaf's actions were simply to distract shareholders from the fundamental issue before them: Curaleaf's hostile bid significantly undervalues Aurora and seeks to acquire Aurora's cash, unique EU-GMP assets, global growth platform and future upside at a discount.
"Aurora's ATM program was publicly disclosed well before the hostile bid and was established to support legitimate accretive and strategic opportunities," Aurora CEO Miguel Martin said. "We believe this unsuccessful application distracts from the fundamental shortcomings of Curaleaf's revised hostile bid.
"Shareholders should remain focused on the central issue: Curaleaf's revised hostile bid is inadequate and does not reflect Aurora's value or future potential. The board remains focused on maximizing value for Aurora shareholders and continues to unanimously recommend that they reject the revised hostile bid and take no action while all available strategic alternatives are considered.”
Aurora publicly announced the ATM program in February 2026, more than six months before Curaleaf launched its hostile bid. The program was established to provide Aurora with flexibility to pursue strategic and accretive opportunities, including increased cultivation capacity and M&A opportunities.
On Oct. 14, Aurora's Board of Directors filed a notice of change to the directors' circular, which unanimously recommended that shareholders reject Curaleaf's revised hostile bid by simply taking no action and not tendering their shares.
The board unanimously recommends that any Aurora shareholders who have tendered their shares to the hostile bid withdraw those shares.
A notice of change to directors' circular (the "notice of change") providing the full details concerning the board's recommendation, including the reasons to reject the revised hostile bid and additional details in respect of the ongoing strategic alternatives process, is available on the Company's special website at www.ProtectAurora.com, on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.
Shareholder Assistance
Shareholders with questions about the hostile bid or who would like to receive ongoing updates may contact Kingsdale Advisors, Aurora's strategic adviser and information agent.
- Toll-Free (within North America): 1-800-749-9052
- Call or Text: 416-623-4172
- Email: [email protected]
- Visit www.ProtectAurora.com
