RE:looks like The Aurora Proposal
On November 15, 2017, CanniMed issued a press release responding to a press release from Aurora Cannabis Inc. (“Aurora”) regarding its intention to make an unsolicited offer for all of CanniMed’s shares. Since the date of that press release, Aurora has not made a formal offer for CanniMed’s shares.
As no formal offer has been made, CanniMed continues to advise shareholders to take NO action with respect to the unsolicited proposal.
In making its recommendation to shareholders to vote in favour of the Arrangement, the Board of Directors of CanniMed considered, among other things, the following:
(i) the Newstrike acquisition is accretive and is a highly strategic entry into the recreational cannabis market;
(ii) the terms of any Aurora offer are unknown, whereas the transaction with Newstrike has been fully negotiated and contains only reasonable conditions to closing.
CanniMed will respond to the Aurora proposal if a formal offer is made.