- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Cronos Group confirmed the sale of all its common shares in Whistler Medical Marijuana Corporation to Aurora Cannabis for C$175 million in Aurora shares.
Cronos Group (NASDAQ:CRON,TSX:CRON) confirmed the sale of all its common shares in Whistler Medical Marijuana Corporation to Aurora Cannabis (NYSE:ACB,TSX:ACB) for C$175 million in Aurora shares.
As quoted in the press release:
“We’d like to thank and congratulate Whistler for their partnership over the past two years,” said Mike Gorenstein, CEO of Cronos Group. “Whistler’s commitment to creating high-quality products and establishing a premium brand has generated value for consumers and investors alike. We are proud to have been part of their growth and look forward to their progress through this venture.”
As a result of the closing of the Transaction, Cronos Group has received approximately 2.5 million Aurora Common Shares with an aggregate value of approximately C$24.6 million based on an issue price of $9.77 per Aurora Common Share, which represents the five-day volume weighted average price (“VWAP”) of Aurora Common Shares immediately prior to closing of the Transaction. In addition, the Company will receive further Aurora Common Shares valued at an aggregate of approximately C$7.6 million upon the satisfaction of certain specified milestones. The exact number of Aurora Common Shares to be issued to the Company following the satisfaction of each such milestone will be determined in reference to the five-day VWAP of Aurora Common Shares immediately prior to the achievement of the applicable milestone.
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.