Cannabis companies MedReleaf, Aurora confirm merger talks, but no deal yet

Two of Canada’s main marijuana producers, MedReleaf and Aurora Cannabis, confirmed they’ve held merger talks, but no settlement has been reached.

In separate statements issued Thursday, MedReleaf and Aurora acknowledged that discussions have been underway.

Trading in each companies’ shares was halted briefly on the Toronto Stock Exchange. MedReleaf is traded on the TSX as LEAF and Aurora as ACB.

MedReleaf stated it “confirms that it engages from time to time in discussions with other industry players, including Aurora Cannabis, regarding various alternatives.”

Aurora issued an analogous assertion and confirmed that no settlement had been made.

After shares resumed buying and selling Thursday, Aurora closed up lower than 1% at eight.02 Canadian dollars and MedReleaf closed at CA$22.25, up 2%.

Across Canada, hashish companies are gearing up for the launch of the nation’s leisure market – anticipated to roll out later this yr.

Ontario-based MedReleaf signed a deal to develop into the most important provider of medical marijuana merchandise to a pharmaceutical distributor in Germany. The agency expects shipments to Cannamedical Pharma GMBH to begin within the coming weeks.

In April, Vancouver-based Aurora unveiled plans to construct the 1.2-million-square-foot facility in Medicine Hat, Alberta.

Categories: Briefs, Canada Marijuana News, Marijuana Stocks & Public Companies, Sales, Funding & Banking News


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