CanniMed tells shareholders to wait while it reviews Aurora offer

TORONTO — CanniMed Therapeutics Inc. is urging shareholders to wait until the company has time to review an unsolicited takeover offer by Aurora Cannabis Inc. before doing anything.The company says that it has not received a formal written offer from Aurora Cannabis Inc. (TSX:ACB), but that it would review the terms set out in the press release and respond by the Friday deadline.After the close of markets Tuesday, Aurora announced an all-share offer worth up to $24 per share.Aurora said it has entered into agreements with shareholders representing 38 per cent of CanniMed’s outstanding shares to support its bid.CanniMed (TSX:CMED) also says it is already in talks to acquire marijuana company Newstrike Resources Ltd. (TSXV:HIP).CanniMed, previously Prairie Plant Systems, was one of the first medical marijuana companies to be granted a Health Canada licence to produce in 2013.

Leave a Reply

Your email address will not be published. Required fields are marked *