An Alberta medical marijuana supply company has bought 7400 common shares of CanniMed Therapeutics, a Saskatoon-based operation.
Aurora says in a news release the purchases were made in connection with their previous offer to buy all the common shares of CanniMed. This was the hostile takeover bid that was presented to CanniMed in November. The Saskatoon company then implemented a shareholder rights plan which prevented Aurora from buying shares quickly, but then the Ontario Securities Commission and the Saskatchewan Financial and Consumer Affairs authority decided for Aurora which allowed the company to buy up common shares. aurora says the purchases were made in the normal course through the TSX. All of this has been happening while CanniMed and the Ontario-based Newstrike are working on a merger.