Aurora Cannabis Denies $215 Million Acquisition of MedLeaf Therapeutics
- Jason Beck
- 5 hours ago
- 2 min read
June 19, 2025
On June 18, 2025, reports surfaced claiming that Aurora Cannabis Inc. (NASDAQ: ACB, TSX: ACB) had agreed to acquire New Zealand-based MedLeaf Therapeutics for $215 million in a cash-and-stock transaction. These reports, initially published by Investing.com, suggested the deal included $125 million in cash and $90 million in Aurora common shares, with an expected closure by August 31, 2025. The acquisition was said to aim at expanding Aurora’s medical cannabis portfolio and strengthening its presence in Europe and Australia.
However, Aurora Cannabis issued a formal statement on the same day, categorically denying these claims. The company clarified that it “has not entered into any such agreement, has had no discussions with MedLeaf Therapeutics with respect to any business combination transaction, and has not made any statement or filed any information pertaining to any such transaction.” Aurora described the reports as misinformation, noting that the Investing.com article was AI-generated and contained false information. A second erroneous article from Investing.com, claiming a strategic partnership with MediPharm GmbH for distribution in Germany and other EU markets, was also refuted.
The misinformation led to significant market impact, with Aurora’s Toronto-listed shares dropping over 20% on June 18, despite the company reporting strong financial results for its fourth quarter and fiscal year ending March 31, 2025. Aurora’s vice-president of communications, Michelle Lefler, emphasized that the company is taking the situation seriously and pursuing appropriate actions.
For context, Aurora Cannabis has a history of strategic acquisitions, including the 2018 purchase of MedReleaf Corp. for $2.5 billion, which remains the largest deal in the Canadian cannabis sector, and the 2024 acquisition of the remaining 90% equity interest in MedReleaf Australia. However, no evidence supports the rumored acquisition of MedLeaf Therapeutics.
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