Aurora Cannabis has rejected Curaleaf Holdings’ application to halt its at-the-market share issuance program and reiterated its unanimous recommendation that shareholders reject Curaleaf’s hostile bid by taking no action and not tendering their shares. Aurora said the ATM program was announced in February 2026, more than six months before Curaleaf launched its offer, and was created to fund strategic and accretive opportunities, including acquisitions and increased cultivation capacity. Aurora said the program had been inactive for several weeks and had not been used for three years before February 2026. Curaleaf has alleged that the issuances diluted shareholders, increased the cost of its offer by more than US$11 million and made acceptance thresholds harder to reach. Its application cited approximately 10.8% dilution since February, about 2.81 million shares issued at an average US$3.04 after Curaleaf expressed transaction interest, and roughly 4.9% dilution over that period. Aurora said it raised concerns about regulatory deficiencies in Curaleaf’s bid with the Alberta Securities Commission on Sept. 2. It also contrasted its debt-free balance sheet with Curaleaf’s more than $1 billion of debt, including $500 million carrying an 11.5% interest rate, according to Aurora’s release.