#Canada #Aurora Cannabis #Edmonton #Curaleaf #hostile bid

Aurora Cannabis Advises Shareholders to Stay Calm Amid Curaleaf's Hostile Bid

On October 5, 2026, Aurora Cannabis Inc., a leading global medical cannabis company based in Canada, released a statement urging its shareholders to remain patient and take no immediate action concerning Curaleaf Holdings, Inc.'s hostile takeover bid. This advisory comes in the wake of Curaleaf's announcement of its intention to file a Notice of Variation and Change to revise its initial bid.

Curaleaf's original bid sought to acquire all the outstanding common shares of Aurora at an implied cost of USD 5.00 per share, which includes a combination of stock and cash. However, this bid remains unofficial until Curaleaf submits the necessary documentation for comprehensive assessment.

Miguel Martin, CEO and Executive Chairman of Aurora, emphasized that, while Curaleaf's statement hints at a willingness to address previously identified concerns, the revised offer has not yet reached Aurora for review. He reassured shareholders that the Special Committee of independent directors will rigorously evaluate any formal proposal, ensuring the best interests of Aurora's shareholders remain paramount.

A Cautious Yet Proactive Approach

Aurora's management has indicated that shareholders will receive a structured recommendation following a thorough examination by the Special Committee. This process is crucial, especially given the complexities surrounding takeover bids. It has been noted that Aurora's recent application to the Alberta Securities Commission has successfully highlighted deficiencies in Curaleaf's disclosures regarding their bid.

Moreover, issues relating to the absence of necessary pro forma financial statements and minimum deposit period requirements for the bid were raised. Consequently, Curaleaf has agreed to amend its bid circular to incorporate both the mandated financial disclosures and extend the offer deadline to December 4, 2026, at 11:59 PM Mountain Time.

Key Takeaways for Shareholders

Aurora's board has reinforced its position from September 2, 2026, urging shareholders not to act on the Hostile Bid until further notification. Shareholders are advised that they will have ample time—until the revised expiry date—to weigh their options.

The Special Committee, along with its advisors, is tasked with reviewing the offer and will officially communicate any recommendations within fifteen days of receiving the formal bid materials, adhering to all applicable securities regulations.

Seeking Clarity Amid Uncertainties

As the situation unfolds, Aurora has encouraged shareholders to stay informed and seek assistance as needed. Kingsdale Advisors, the company's strategic advisor, is available to answer inquiries regarding the Hostile Bid.

Shareholders can contact Kingsdale Advisors toll-free at 1-800-749-9052 within North America or via email at [email protected] for ongoing updates and support.

Aurora Cannabis continues to prioritize open communication with its shareholders during these uncertain times. The company's commitment to transparency and shareholder interests will guide its next steps in this evolving landscape.

About Aurora Cannabis

Founded with the aim of improving lives through medical cannabis, Aurora operates in various markets, including Canada, Europe, Australia, and New Zealand. With a diverse portfolio of renowned brands and GMP-certified facilities, Aurora remains dedicated to the highest quality in cannabis production. For further details, visit www.auroramj.com.

In conclusion, Aurora urges all shareholders to stay calm and evaluate their positions as the situation with Curaleaf continues to develop. The Special Committee is engaged in a process that prioritizes shareholder well-being, ensuring any recommendations are made with care and deliberation.