Job offersmore »
- Import Assistant and Operations Assistant - Netherlands
- Farms Director UK - South East
- Agronomist to work abroad
- Export salesperson GERMANY - Barcelona, Spain
- Account Manager Zachtfruit Scandinavië en Duitsland - Netherlands
- International Editor
- Experienced tomato grower - Angola
- Sales Area Managers - Czech Republic, Eastern Europe, Portugal
- Chief Operations Officer - Deerfield (MA) USA
- LED strategic account manager - Netherlands
Top 5 - yesterday
- No news has been published yesterday.
Top 5 - last week
Top 5 - last month
Exchange ratesmore »
Aurora Cannabis buys MedReleaf for C$3.2 billionAurora Cannabis and MedReleaf have entered into a definitive arrangement agreement whereby Aurora intends to acquire all of the issued and outstanding common shares of MedReleaf in an all-share transaction valued at approximately C$3.2 billion on a fully diluted basis.
Under the terms of the Arrangement Agreement, holders of MedReleaf common shares will receive 3.575 common shares of Aurora for each MedReleaf common share held. Upon completion of the Transaction, existing Aurora and MedReleaf shareholders would own approximately 61% and 39% of the pro forma company, respectively, on a fully diluted basis.
The Exchange Ratio implies a price of C$29.44 per MedReleaf common share and a premium of approximately 34%, based on the 20-day volume weighted average prices of Aurora and MedReleaf common shares on the Toronto Stock Exchange as of May 11, 2018.
"This is a transformational transaction that brings together two pioneering cannabis companies, both committed to high technology, high quality and low cost production, to create a powerful platform for accelerated growth and success on a global scale," said Terry Booth, CEO of Aurora. "Our complementary assets, strategic synergies, and strong market positioning will provide us with critical mass and an excellent product portfolio in preparation for the adult consumer use market in Canada. Equally, the combination strengthens our capacity to service the rapidly expanding global medical cannabis markets, and amplifies our early-mover advantage. We are very excited about the combination of our respective science and R&D teams, which will position us exceptionally well for the development of high value-added products, addressing as yet unmet needs in the medical markets, and driving continued innovation for the adult consumer use market."
Neil Closner, CEO of MedReleaf, added, "MedReleaf was founded on the belief that by striving to be the Medical Grade Standard and bringing the highest level of quality and rigor to the cannabis industry, we would produce safe, consistent, and effective products that help improve the quality of life of our patients and, in time, provide an unrivaled experience for the adult use consumer. This, in turn, would drive growth and opportunity for our business. By combining with Aurora, an integrated producer with an exceptionally strong track record for execution, and deep domestic and international distribution capabilities, we will be ideally positioned to set the global standard for our industry at a pace that will be difficult to match."
For more information:
P.O. Box 209
Cremona, AB. T0M0R0
Publication date: 5/15/2018
Other news in this sector: