skip to Main Content
Aurora Cannabis Looks To Make $3 Billion Merger With CanniMed Therapeutics

Look out, Canopy Growth Corporation. Your reign as the pure-play marijuana stock with the highest market cap might not last for long.

On Tuesday, Aurora Cannabis announced that it had submitted a proposal to acquire all shares of another Canadian marijuana grower, CanniMed Therapeutics. Aurora is offering to buy CanniMed, which trades on the Toronto Stock Exchange, for $24 per share. If the deal goes through, Aurora thinks the combined companies would likely claim a market cap of more than $3 billion, potentially bumping Canopy Growth from its perch as the largest pure-play marijuana stock on the market.

A merger of Aurora and Cannimed wouldn’t just affect those two companies, though. It could have ripple impacts throughout the cannabis industry — in Canada and across the world.

Super-sized combo

What will the combination of Aurora Cannabis and CanniMed Therapeutics look like? The resulting company will have over 40,000 active registered medical cannabis patients in Canada. The deal would also plug CanniMed’s customers into Aurora’s e-commerce platform, which allows Canadian patients to purchase medical cannabis online.

More important, though, the acquisition of CanniMed would give Aurora significant added capacity. The combined company would have five cultivation facilities, with more on the way. Altogether, this would enable annual production of 130,000 kilograms of cannabis. [Read more at Business Insider]

This Post Has 0 Comments

Leave a Reply

Your email address will not be published.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

Recent Stories

POSaBIT Buys Suite of Platforms (Leaf Data Systems, MJ Platform and Ample Organics) from Embattled Akerna Corp.

POSaBIT, the cannabis point-of-sale (POS) and payments software company, this morning announced its planned acquisition of  MJ Platform (MJ Freeway), Leaf Data Systems, and Ample Organics from embattled software company…

New York State now has 66 licensed cannabis retailers

New York marijuana regulators on Wednesday approved dozens of conditional adult-use dispensary licenses in a session during which members also discussed adopting bylaws for how the board runs meetings and makes decisions.…

FDA Says “No” to CBD Foods and Dietary Supplements

By Griffin Thorne, Attorney at Harris Bricken Since the passage of the 2018 Farm Bill, the hemp CBD industry has been eagerly awaiting FDA CBD regulations. In that time, FDA…

FDA finalizes guidance on cannabis clinical research

The US Food and Drug Administration has finalized a 2020 draft guidance outlining how sponsors and investigators can conduct clinical trials for certain drugs containing cannabis or cannabis-derived compounds without…

More Categories

Back To Top
×Close search
Search