Cannabis News

CanniMed Therapeutics announced its talks with Aurora Cannabis, in terms of a possible transaction are still ongoing therefore their proposed standstill was extended.

CanniMed Therapeutics (TSX:CMED) announced its talks with Aurora Cannabis (TSX:ACB; OTC:ACBFF), in terms of a possible transaction are still ongoing therefore their proposed standstill was extended.
As quoted in the press release:

Therefore, CanniMed and Aurora have each agreed to extend their previously announced standstill to expire at 5:00 pm (EST) today, and until such time (i) neither CanniMed nor Aurora will solicit any proxies of CanniMed shareholders, (ii) Aurora will not, directly or indirectly, acquire control or direction over any additional shares of CanniMed, (iii) neither CanniMed nor Aurora will make any announcement or public statements in respect of a potential transaction nor will Aurora make or publicly announce any changes to its offer dated November 24, 2017 (as amended) unless mutually agreed; and (iv) neither CanniMed nor Aurora will solicit an alternative transaction or enter into any discussions or negotiations with respect to an alternative transaction during the standstill period.
The Special Shareholders’ Meeting of CanniMed (the “Meeting”) will still be held on Thursday, January 25, 2018 at 10:00 am (EST). However, the cut off time for the deposit of proxies will be at 10:00 am (EST) on Wednesday, January 24, 2018.

Click here to read the full press release.

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