-- Curaleaf's self-serving portrayal of our business is an attempt to
acquire Aurora's world class EU-GMP manufacturing facilities and global
medical cannabis footprint at the lowest price possible
-- Aurora's international strategy is working; net revenue is up 17%YOY
-- Contrary to Curaleaf's inaccurate statements, Aurora's high margin German
business is growing and continues to be a key driver of Aurora's
international growth strategy
-- Shareholders are advised to TAKE NO ACTION pending formal recommendation
from the Board and Special Committee. Offer remains open for at least 105
days from the launch of the Hostile Bid
-- Questions about the Offer or would like to stay informed? Please contact
Kingsdale Advisors toll-free at 1-800-749-9052 within North America, call
or text 416-623-4172 or at contactus@kingsdaleadvisors.com
EDMONTON, AB, Aug. 24, 2026 /CNW/ -- Aurora Cannabis Inc. ("Aurora" or the "Company") (TSX: ACB) (NASDAQ: ACB), the leading Canadian-based global medical cannabis company, today cautioned shareholders that Curaleaf Holdings, Inc.'s ("Curaleaf") (TSX: CURA) (OTCQX: CURLF) announcement of an unsolicited take-over bid ( "Hostile Bid") appears to contain inaccurate statements about Aurora's business and should be viewed skeptically.
Aurora's Board of Directors, together with a newly formed Special Committee of independent directors, is reviewing Curaleaf's proposal in consultation with financial and legal advisors to determine the course of action that best serves the interests of the Company and its shareholders.
Shareholders are advised to TAKE NO ACTION with respect to the Curaleaf offer at this time.
"Curaleaf's timing and public comments appear to be a transparent attempt to pressure Aurora shareholders into making a short-term decision for the benefit of Curaleaf shareholders," said Miguel Martin, Executive Chairman and CEO of Aurora. "Curaleaf's interest underscores the value that Aurora has created. They are trying to acquire our world-class EU-GMP global infrastructure at the lowest possible price, depriving our shareholders of the long-term value our strategy is built to deliver."
"This opportunistic Hostile Bid comes as Aurora's multi-year transformation into a high-margin, global medical cannabis leader is yielding positive results. With three consecutive years of positive adjusted EBITDA(1) , accelerating international sales and our recent expansion into the critical UK market, Aurora is reaching a pivotal inflection point," Mr. Martin added.
"The Company's Special Committee of the Board has not yet made a formal recommendation regarding the Offer; Aurora will not let inaccurate statements about the Company stand uncorrected while the review is underway. The Special Committee and Board are focused on protecting shareholder investment and ensuring full value is realized" Mr. Martin concluded.
Setting the record straight
Curaleaf has made several public claims regarding Aurora's operational and market performance that do not accurately or fully reflect the Company's business model or actual financial results:
-- Response and Engagement to the Offer: As Curaleaf acknowledged in its
Hostile Bid circular, Aurora has had several discussions with Curaleaf
since June 2026, most recently on August 12. Discussions included
Aurora's Lead Independent Director and the Executive Chairman and CEO.
Curaleaf's public statements appear to de-emphasize these repeated
engagements.
-- International Medical Market Performance:
-- German Market Remains a Major Driver of International Growth:
-- Germany is a key driver of Aurora's 17% year-over-year
international net revenue growth in fiscal Q1'27, compared
to the prior year quarter, as the Company continues to grow
its medical cannabis business in that market.
-- Curaleaf claims that regulatory changes to German medical
reimbursement are contributing to a major challenge for
Aurora. This is incorrect: the reimbursement market segment
accounted for less than 10 percent of Aurora's total German
volume prior to these changes.
-- UK Market Position and Growth Opportunities:
-- Aurora is gaining share in the UK, where patients have
consistently preferred its high-quality products.
-- On August 19, 2026, Aurora strengthened its position by
acquiring Internode Pharma Limited and HAP Pharma Limited,
expanding direct distribution in Europe's fastest-growing
medical market.
-- Aurora continues to be a market leader in Poland
-- Aurora continues to hold the #1 market share position by
revenue in Poland.
-- Increases in annual import limits and a loyal patient base
strengthen Aurora's growth outlook in this key,
highly-regulated market.
-- Financial Strength Refutes Curaleaf's Claims:
-- Aurora's recent financial performance demonstrates a stronger,
more focused business than Curaleaf's characterization suggests.
-- Aurora delivered record global medical cannabis revenue and
adjusted EBITDA1 results in FY2026.
-- Momentum continues, with YOY growth in international net revenue
and industry leading adjusted gross margins before FV adjustments1
-- These strong results reflect Aurora's strategy of prioritizing
global medical cannabis growth, including exiting the lower-margin
Plant Propagation and Canadian Consumer businesses.
-- Curaleaf's Cultivation Claims Ignore the Strength of Aurora's Facilities
-- Curaleaf's comments on Aurora's cultivation methods and
output per square foot are inaccurate and outdated, and do
not reflect the strength of Aurora's cultivation
facilities.
-- Aurora has built specialized expertise in manufacturing
facilities that cannot be easily replicated. Through years
of operating large-scale EU-GMP-certified facilities,
Aurora has developed the scientific, cultivation,
regulatory and operational capabilities that support its
global medical cannabis strategy.
-- Aurora is proactively expanding capacity to support
international growth and ensure consistent supply as
regulatory standards tighten and patient demand grows.
-- Over the past five years, Aurora has increased its EU-GMP
production capacity by more than 40% and continues to
invest further, including through capacity added in the
Safari Flower Company transaction.
Aurora Shareholders are advised to TAKE NO ACTION with respect to the Curaleaf offer at this time.
Aurora shareholders with questions about the Offer or who would like to stay informed may contact Aurora's strategic advisor and information agent:
Kingsdale Advisors
-- Toll-Free (within North America): 1-800-749-9052 -- Call or Text: 416-623-4172 -- Email: contactus@kingsdaleadvisors.com ____________________________ (1) Note this press release includes certain non-GAAP financial measures, which are intended to supplement, not substitute for, comparable GAAP financial measures. These measures are not standardized financial measures under the financial reporting framework used to prepare Aurora's financial statements and might not be comparable to similar financial measures disclosed by other issuers. These terms and the reconciliations to the most comparable GAAP measures are defined in the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of the FY27 Q1 MD&A, filed August 5, 2026, which can be found on Sedar+, EDGAR and Aurora's website.
About Aurora Cannabis
Aurora is a global leader in medical cannabis, dedicated to improving lives through scientific expertise, proven performance, and a deep commitment to patient care. Aurora serves medical markets across Canada, Europe, Australia, and New Zealand with a portfolio of trusted, leading brands including Aurora$(R)$, MedReleaf(R), Pedanios(R), IndiMed$(TM)$, San Raf(R), and Whistler Medical Marijuana Corporation(R). With world-class GMP-certified manufacturing facilities in Canada and Germany, and a team of industry-leading professionals, Aurora continues to expand its global footprint and deliver consistent, high-quality cannabis products with the purpose of Opening the World to Cannabis(TM).
Learn more at www.auroramj.com and follow us on X and LinkedIn.
Aurora's common shares trade on the NASDAQ and TSX under the symbol "ACB".
Forward Looking Statements