Aurora Cannabis to acquire CanniMed Therapeutics

At the request of IIROC, Aurora Cannabis Inc. (TSX: ACB) ("Aurora") announced today that it has submitted a proposal (the "Proposal") to acquire all of the issued and outstanding common shares of CanniMed Therapeutics Inc. (TSX: CMED) ("CanniMed").

The proposal was delivered to the Board of Directors of CanniMed on November 13, 2017 and Aurora is seeking to pursue a mutually agreed upon combination with CanniMed. CanniMed has not yet engaged in active discussions with Aurora, however, Aurora welcomes the opportunity to do so, such that CanniMed's shareholders can benefit from the significant inherent value in the Proposal.

Aurora has requested that CanniMed's Board respond to the Proposal prior to 5:00 pm (Vancouver time) on Friday November 17, 2017, failing which, Aurora intends to commence a formal takeover bid for CanniMed.

Transaction Highlights

  • All-share Proposal, valued at $24.00 per CanniMed share based on the closing share price of Aurora on November 14, 2017, reflects a 56.9% premium over
  • ...
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