Canada’s Aurora Cannabis Boosts Stake in Australia-Based Cann Group

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Canada’s Aurora Cannabis Boosts Stake in Australia-Based Cann Group

Flickr / Cannabis Pictures / CC BY 2.0

Canada’s Aurora Cannabis Inc (ACB.TO) said on Monday it increased its stake in Australia-based Cann Group Ltd (CAN.AX) to 22.9 percent from 19.9 percent, its latest move to expand in the cannabis industry.

Aurora, already Cann Group’s largest shareholder, said it bought the shares at A$2.50 ($1.90) apiece.

Shares of Cann Group ended 4.7 percent higher at A$3.14 on the Australian Stock Exchange.

Cann Group was the first Australian company to receive a license to research and cultivate cannabis for medical purposes.

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