|Bid||24.60 x 0|
|Ask||24.75 x 0|
|Day's Range||22.06 - 24.78|
|52 Week Range||7.45 - 31.25|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||29.57|
Aurora Cannabis on Monday agreed to buy fellow Canadian pot stock MedReleaf for $2.5 billion, a record industry deal. Canada's Canopy Growth plans a NYSE listing.
Some of Canada’s richest marijuana investors just got a little richer -- at least on paper. The biggest shareholders in Markham, Ontario-based pot grower MedReleaf Corp. now have stakes worth more than C$200 million ($156 million) each following Aurora Cannabis Inc.’s acquisition for about C$2.9 billion in stock, the largest deal in the sector. MedReleaf holders, including Gibraltar-based investor Tarik Ouass, along with Raymond Leach and Stephen Arbib have combined stakes worth about C$1.74 billion, based on the deal valuations.
Aurora Cannabis Inc will buy rival MedReleaf Corp for C$3.2 billion ($2.51 billion) in the biggest deal yet to unify major Canadian pot growers, as the country moves toward legalizing marijuana for recreational use. Canada's relaxed regulations, a mature industry and free-flowing capital have offered firms a unique opportunity to advance research without the legal and political risks that bog down growers in the United States and elsewhere. Canadian regulators have granted over 70 firms licenses to produce and sell medical marijuana, with more than half granted in 2017 or 2018.
The deal gives Aurora a larger production footprint at a time when more governments around the globe are legalising recreational pot use. Terry Booth, the chief executive of the company, said the takeover “strengthens our capacity to service the rapidly expanding global medical cannabis markets”.
Aurora Cannabis Inc. agreed to buy rival MedReleaf Corp. for about C$2.9 billion ($2.2 billion) in stock, the companies said Monday in a statement. Canadian marijuana growers are racing to gain market share as Prime Minister Justin Trudeau pushes to legalize recreational use this year. Aurora is leading the effort to consolidate the industry, having acquired more than 10 targets in the past two years.
Aurora Cannabis Inc., a Canadian provider of medical marijuana, agreed to buy rival MedReleaf Corp. for about C$3.2 billion ($2.5 billion) in stock, gearing up for growth in demand for weed as governments ease restrictions on its use. The purchase values Markham, Ontario-based MedReleaf at C$29.44 a share, based on the average price of Aurora over the past 20 days, according to a statement Monday. Takeovers among Canada’s pot companies are heating up as Prime Minister Justin Trudeau pushes to legalize marijuana for recreational use this year.
EDMONTON and MARKHAM, ON , May 14, 2018 /CNW/ - Aurora Cannabis Inc. ("Aurora") (ACB.TO) and MedReleaf Corp. ("MedReleaf") (LEAF.TO) are pleased to announce that they have entered into a definitive arrangement agreement (the "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 (the "Transaction"). 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 (the "Exchange Ratio").
The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy. THE GLOBE AND MAIL ** The government of Canadian Prime ...
Canadian marijuana producers MedReleaf Corp. and Aurora Cannabis Inc. said they’ve been in discussions amid speculation that the companies may combine. MedReleaf said Thursday in a statement that it’s had talks with companies including Aurora "regarding various alternatives.” Aurora said the same in a separate statement. The Globe and Mail reported Wednesday that MedReleaf has contacted larger companies about a sale and that Aurora was engaged in talks.
MARKHAM, ON , May 3, 2018 /CNW/ - MedReleaf Corp. ("MedReleaf" or the "Company") (LEAF.TO) is aware of a recent news article speculating as to a potential transaction involving Aurora Cannabis. As a general policy, MedReleaf does not publicly comment on unusual market activity, rumors or speculation in the marketplace or any potential transaction unless, and until, a binding legal agreement to effect that transaction has been signed. In response to a request by Investment Industry Regulatory Organization of Canada , the Company confirms that it engages from time to time in discussions with other industry players, including Aurora Cannabis, regarding various alternatives.
Measuring MedReleaf Corp’s (TSX:LEAF) track record of past performance is an insightful exercise for investors. It enables us to reflect on whether the company has met or exceed expectations, whichRead More...
MARKHAM, ON , April 27, 2018 /CNW/ - MedReleaf Corp. (LEAF.TO) ("MedReleaf" or the "Company"), Canada's first and only ISO 9001 and ICH-GMP certified cannabis producer, today announced that it has entered into a memorandum of understanding (MoU) with Niagara College to foster the development of cannabis production expertise in Canada through its Graduate Certificate program in Commercial Cannabis Production – Canada's first postsecondary credential in this emerging field.
PHILADELPHIA and NEW YORK , April 17, 2018 /PRNewswire/ -- Tikun Olam , the world leader in cannabis science, and Ilera Healthcare , Pennsylvania's premier medical marijuana cultivator, processor and ...
MedReleaf adds PINs to its medical cannabis products to facilitate coverage and reimbursement under drug benefit plans
Hydropothecary Corp, Canopy Growth and Aphria Inc are among six companies that have signed agreements with Quebec's liquor board to supply the province with marijuana when Canada legalizes its recreational use this year, the companies said in separate statements on Wednesday. MedReleaf Corp, Aurora Cannabis and private equity firm Privateer Holdings-backed Tilray Canada are the other companies to sign the deal to supply the province's cannabis board, which will be created as a subsidiary of the liquor board to oversee marijuana sales.
MedReleaf completes supply agreement with the Société des alcools du Québec for 8 tons of cannabis per year over three years
While small-cap stocks, such as MedReleaf Corp (TSX:LEAF) with its market cap of CA$1.52B, are popular for their explosive growth, investors should also be aware of their balance sheet toRead More...
MedReleaf announces senior leadership team additions bringing depth and experience from the global pharmaceutical industry