TORONTO — Aurora Hashish Inc. (TSX:ACB) says it has bought 450,000 widespread shares of CanniMed Therapeutics Inc. (TSX:CMED), equal to about 1.eight per cent of the corporate.
Vancouver-headquartered Aurora says it’s allowed to purchase as much as about 5 per cent of the Saskatoon-headquartered firm’s inventory on the open market and that is its first buy.
An acrimonious takeover battle between the 2 marijuana firms was within the regulatory highlight earlier within the month at a joint listening to involving the Saskatchewan and Ontario securities commissions.
Each have stated they’re happy with a regulatory ruling — dated Dec. 22 however launched Wednesday — that provides every of them a few of what they had been in search of.
Any securities issued by CanniMed as a defence towards a hostile takeover by Aurora will likely be cease-traded, the Ontario Securities Fee stated Wednesday.
The OSC stated Aurora, for its half, will likely be required to amend its takeover bid round and associated press releases to incorporate sure data that would have an effect on CanniMed’s shareholders after they determine to simply accept or reject the supply.