Recent Updates — ACB
The Alberta Securities Commission dismissed an application by Curaleaf Holdings Inc. seeking to halt Aurora Cannabis Inc.'s at-the-market (ATM) equity issuance program, ruling in favor of the company. This decision confirms that Aurora's ATM program is compliant with securities laws and was established prior to Curaleaf's hostile bid. The board unanimously recommends shareholders reject the revised hostile bid by taking no action, asserting that the bid undervalues the company. Aurora reaffirms it has not used the ATM program during the hostile bid process. Aurora Cannabis Inc. operates as a global leader in medical cannabis with manufacturing facilities and brands across Canada, Europe, Australia, and New Zealand.
Aurora Cannabis reaffirms its Board recommendation that shareholders reject the revised hostile takeover offer from Curaleaf Holdings, Inc. The company argues the bid significantly undervalues Aurora and fails to address concerns regarding funding mechanisms and risk allocation. Aurora's Special Committee is actively exploring strategic alternatives, including potential transactions with third parties or remaining independent, to maximize shareholder value. Shareholders are advised to take no action and wait for further developments before December 4, 2026. Aurora operates in the global medical cannabis industry.
Aurora Cannabis has completed a significant expansion of its EU-GMP manufacturing facility in Leuna, Germany. The project more than doubles the expected annual flower output and incorporates the company's proprietary genetics and cultivation practices to enhance product quality and operational efficiency. The site has been renamed Aurora Horizon and now holds an expanded EU-GMP license. This development strengthens Aurora's domestic production capacity in Germany and supports its broader European growth strategy by improving supply chain resilience. Aurora Cannabis Inc. is a global medical cannabis company serving markets in Canada, Europe, Australia, and New Zealand.
Aurora Cannabis urges shareholders to take no action regarding Curaleaf Holdings' revised hostile takeover bid, which offers an implied consideration of US$5.00 per share consisting of 0.4013 subordinate voting shares of Curaleaf plus US$1.00 in cash. Aurora's Special Committee has commenced a thorough and independent review of the offer, with shareholders having until at least December 4, 2026, to consider their options pending a formal Board recommendation. The company operates as a global leader in medical cannabis.
Curaleaf Holdings has indicated an intention to file a Notice of Variation and Change to revise its hostile takeover offer for Aurora Cannabis, proposing consideration valued at US$5.00 per share consisting of 0.4013 Curaleaf subordinate voting shares plus US$1.00 in cash. The revision addresses regulatory deficiencies identified by Aurora's application to the Alberta Securities Commission, specifically adding required pro forma financial statements and extending the bid expiry date to December 4, 2026. Aurora's Special Committee has maintained its recommendation that shareholders take no action until a formal revised offer is received and thoroughly reviewed. Aurora Cannabis operates as a global leader in medical cannabis with manufacturing facilities in Canada and Germany.