The page you are looking for is temporarily unavailable.
Please try again later

Money Aurora Cannabis says CanniMed takeover successful

06:10  11 march  2018
06:10  11 march  2018 Source:   thestarphoenix.com

3 Stocks That Have Outperformed the TSX in 2018

  3 Stocks That Have Outperformed the TSX in 2018 Shopify Inc. (TSX:SHOP)(NYSE:SHOP) faced some challenges late last year, but the stock is back on track with a strong start to 2018.ENB

Aurora Cannabis Inc. says its .1-billion bid to acquire CanniMed Therapeutics Inc. has been successful , and it will formally buy up the smaller company’s shares “as soon as possible.”. The Edmonton-based company’s announcement comes about three months after it launched an

Aurora Cannabis Inc. says its .1-billion bid to acquire CanniMed Therapeutics Inc. has been successful , and it will formally buy up the smaller company’s shares “as soon as possible.”. Leave a Reply and subscribe Videos can use

041917-_DSC9126_sm.jpg-234324967-_DSC9126_sm-W.jpg© CanniMed Therapeutics Inc. 041917-_DSC9126_sm.jpg-234324967-_DSC9126_sm-W.jpg

Aurora Cannabis Inc. says its $1.1-billion bid to acquire CanniMed Therapeutics Inc. has been successful, and it will formally buy up the smaller company’s shares “as soon as possible.”

The Edmonton-based company’s announcement comes about three months after it launched an acrimonious hostile takeover bid for the firm, which is based in Saskatoon. Both companies agreed on a friendly takeover in January.

“Following the take up, we will immediately commence with the integration of CanniMed into the Aurora organization and start executing on realizing the strategic synergies we have identified,” Aurora CEO Terry Booth said Friday in a statement.

Province’s marijuana monopoly will be known as the ‘Ontario Cannabis Store’

  Province’s marijuana monopoly will be known as the ‘Ontario Cannabis Store’ Province’s marijuana monopoly will be known as the ‘Ontario Cannabis Store’ “Ontario Cannabis Store.”That’s the branding chosen for the provincial government’s new retail marijuana monopoly to be run by the LCBO when weed is legalized this summer.“The name is designed to convey a safe, simple and approachable environment for consumers, and agency employees, in a clear and easily understood manner,” the Liquor Control Board of Ontario said Friday in a statement that also unveiled a plain circular “OCS” logo.

Aurora Cannabis says it has formally launched a hostile takeover offer for CanniMed Therapeutics in an all-stock bid worth a share. CanniMed Therapeutics Inc. fired back at Aurora Cannabis Inc. — which formally launched its hostile takeover bid Friday — saying the Vancouver-headquartered

Edmonton-based licensed producer Aurora Cannabis Inc. says it has been successful in its friendly offer for CanniMed Therapeutics Inc. and will now begin the process of combining the two The agreement ended a sometimes-bitter takeover battle between the marijuana companies.

The merger will form a “company that is exceptionally well positioned to capitalize on the tremendous opportunities in the domestic and international medical markets, as well as the Canadian adult consumer use market, once legalized,” Booth added.

Founded in 1998, CanniMed is Canada’s first licensed medical marijuana producer. It employs around 200 people at its facility southeast of Saskatoon, which is in the midst of a $10.5 million expansion aimed at boosting cannabinoid oil production.

Aurora said 17.8 million CanniMed shares, or about 71 per cent of the total, have been tendered under the agreement. It will trade those for 50.6 million of its own shares — which closed Thursday at $11.50 — plus $98 million in cash.

The larger company has said previously that CanniMed will be the “cornerstone” of its new medical cannabis “centre of excellence,” a corporate group expected to have 40,000 patients and produce 260,000 kilograms every year.

amacpherson@postmedia.com
twitter.com/macphersona

Aurora chasers discover new type of northern lights .
Aurora chasers discover new type of northern lightsThe glowing ribbon of purple — and sometimes green — light that runs east-west in the night sky has been observed and photographed by aurora borealis chasers for years.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!