Medical marijuana maker CanniMed Therapeutics Inc (CMED.TO) should withdraw a shareholder rights plan adopted to fend off a hostile bid from larger rival Aurora Cannibis Inc ABC.TO, two Canadian regulators have ruled.
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Medical marijuana company Aurora Cannabis Inc said on Monday its acquisition-target CanniMed Therapeutics Inc’s plan to buy smaller rival Newstrike Resources Ltd was a “terrible deal” for CanniMed shareholders.
A healthy day of trading for Canadian cannabis stocks led the North American Marijuana Index to gain several points over Monday’s 169.07 close.
Canada’s biggest licensed marijuana producer, Canopy Growth, plans to subject its products to enhanced testing for pesticides and other contaminants, as the industry seeks to restore consumer confidence amid a tainted cannabis scare.
LOS ANGELES, April 11, 2017 /Weed Wire/ — MJIC Inc. has completed its quarterly rebalancing of the Marijuana Index, adding five new cannabis companies to the U.S. Marijuana Index and two new companies to the Canadian Marijuana Index.
“We are continuing to see Canadian companies invest in or acquire assets in U.S. cannabis markets […] looking to take advantage of increased demand abroad,” a Viridian Capital analyst says.
CanniMed Therapeutics Inc. became the latest and last medical marijuana company Thursday to go public in 2016, capping off a banner year in the burgeoning sector.