Newspaper article The Canadian Press

Aurora-CanniMed Backers Include Saskatchewan Funds, Toronto Investment Manager

Newspaper article The Canadian Press

Aurora-CanniMed Backers Include Saskatchewan Funds, Toronto Investment Manager

Article excerpt

CanniMed shareholder group backs Aurora takeover

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VANCOUVER - Aurora Cannabis Inc.'s all-stock hostile takeover bid of medical marijuana company CanniMed Therapeutics has the backing of a Toronto-based investment manager, two Saskatchewan venture capital funds, and an investment fund also based in the prairie province, according to regulatory filings.

Shares of Aurora (TSX:ACB) were up as much as 16 per cent in late afternoon trading after the Vancouver-headquartered marijuana producer officially launched its bid on Friday, while shares of CanniMed (TSX:CMED) slipped as much as 3 per cent by early afternoon in Toronto.

Aurora signed lock-up agreements with four CanniMed shareholders -- which comprise 38 per cent of outstanding shares -- on Nov. 13 to support its unsolicited takeover bid, one day before it made its proposal public, according to a circular outlining its offer. …

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