Inactive Instrument

Aurora Cannabis Inc Toronto S.E.

CA7561027037

Aurora Cannabis : CanniMed files $725 million lawsuit related to Aurora takeover bid

January 12, 2018 at 08:25 pm EST

(Reuters) - Canadian medical marijuana company CanniMed Therapeutics Inc (>> CanniMed Therapeutics Inc) said on Friday it filed a lawsuit alleging multiple claims of wrongdoing and seeking $725 million in damages related to Aurora Cannabis Inc's (>> Aurora Cannabis Inc) hostile takeover bid.

The lawsuit, filed in the Ontario Superior Court of Justice, alleges breach of confidentiality, intentional interference with economic relations, conversion, breach of contract and other allegations pursuant to the Securities Act (Ontario), CanniMed said in a statement.

Aurora launched a hostile takeover bid for CanniMed in November.

Aurora was not available to comment on the lawsuit outside regular business hours.

CanniMed alleges that Aurora, several shareholders, one current and one former board member participated in a "civil conspiracy" intended to injure the economic interests of CanniMed.

(Reporting by Uday Sampath in Bengaluru; Editing by Leslie Adler)

Stocks treated in this article : Aurora Cannabis Inc, CanniMed Therapeutics Inc

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Company Profile

Aurora Cannabis Inc. is a Canada-based medical cannabis company. The Company's principal business lines are focused on the production, distribution, and sale of cannabis related products in Canada and internationally. The Companyâs segments include Canadian Cannabis, European Cannabis and Plant Propagation. The Company's adult-use brand portfolio includes Aurora Drift, San Rafael '71, Daily Special, Whistler, Being and Greybeard, as well as CBD brands, Reliva and KG7. Its medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co, as well as international brands, Pedanios, Bidiol and CraftPlant. Its cannabis products are primarily cultivated and manufactured in the facilities in Bradford Ontario, Pemberton, British Columbia, and Odense, Denmark. The Company is focused on offering its cannabis products to global medical cannabis market, recreational cannabis market and global hemp-derived cannabidiol (CBD) markets.

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2024-05-08 - Q4 2024 Earnings Release (Projected)

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