Recent Updates — CURLD

Curaleaf Holdings, Inc. issued a statement acknowledging that Aurora Cannabis Inc. received an alternative transaction proposal from Organigram Global Inc. Curaleaf maintains that its enhanced premium bid of October 6, 2026 to purchase all outstanding common shares of Aurora remains outstanding and represents better value with greater certainty and speed to close. The company criticized the lack of material details in the competing offer, including break fees and investor rights granted to BAT, and accused Aurora's board of fiduciary dereliction for denying Curaleaf due diligence access. This development introduces a competing bid scenario that could alter the terms or outcome of the pending acquisition. Curaleaf is a leading international provider of consumer and medical cannabis products.

Curaleaf Holdings responded to Aurora Cannabis' board recommending shareholders reject Curaleaf's enhanced hostile bid, which values the company at $5.00 per share. The offer represents an 86% premium to Aurora's unaffected 30-day volume-weighted average price and a 217% ex-cash premium. Curaleaf criticized Aurora for granting diligence access to unnamed parties while denying it, arguing the board is obstructing value-maximizing engagement. Curaleaf remains ready to engage in a constructive due diligence process. The company operates as a leading international provider of consumer and medical cannabis products.

Curaleaf Holdings filed a Notice of Variation to increase its tender offer for all outstanding shares of Aurora Cannabis Inc. The Enhanced Offer provides total implied consideration of US$5.00 per Aurora Share, comprised of 0.4013 Curaleaf Shares plus US$1.00 cash. This represents an 86% premium over Aurora’s unaffected share price and raises the maximum cap consideration to US$6.00 per share. The filing addresses technical comments from Aurora and extends the offer period. Curaleaf is a leading international provider of consumer and medical cannabis products.

Curaleaf Holdings amended its unsolicited tender offer for Aurora Cannabis, raising the consideration to US$1.00 in cash and 0.4013 of a Curaleaf subordinate voting share per Aurora common share, up from US$0.75 cash and 0.3463 shares. The maximum cap price increased to US$6.00 per share. The offer expiry was extended to December 4, 2026. Aurora's board continues to recommend rejection of the bid. Curaleaf operates in the cannabis industry.