[PRESS RELEASE] – STAMFORD, Conn., Nov. 3, 2026 – Curaleaf Holdings Inc., a leading international provider of consumer and medical cannabis products, acknowledges the announcement by Aurora Cannabis Inc. of an alternative transaction from Organigram Global Inc.
Curaleaf's enhanced premium bid of Oct. 6, 2026 to purchase all of the outstanding common shares of Aurora remains outstanding. Curaleaf believes its offer represents better value, offering a superior combined business with a stronger capital markets profile, greater certainty and speed to close, and greater anticipated synergies.
Curaleaf will study Organigram's alternative transaction and awaits disclosure of material details, which have not been provided, including any break fee, management and board composition going forward, and any investor rights being granted to British American Tobacco (BAT). It is also revealing that neither Aurora nor Organigram made any reference to whether the transaction is dilutive or accretive to shareholders.
Aurora's board granted due diligence access to, in Curaleaf's view, a significantly smaller, underperforming and less liquid company, burdened with a looming share overhang, a history of, and forthcoming, shareholder dilution and weak cash generation, backed by an investor with its own disappointing cannabis investment track record.
In Curaleaf's view, the refusal by Aurora's board to grant Curaleaf access and engage directly blocks any chance of an enhanced Curaleaf bid and constitutes gross dereliction of its fiduciary duties.
