CanniMed Therapeutics Forms Special Committee for Potential CanniMed Therapeutics Forms Special Committee for Potential Unsolicited Offer from Aurora Cannabis
CanniMed Therapeutics Inc. (“CanniMed” or the “Company”) (TSX:CMED) announced that it has formed a special committee of independent directors (“the Special Committee”) in anticipation of a potential formal offer from Aurora Cannabis Inc. (“Aurora”) for all of the issued and outstanding CanniMed shares.
Upon receipt, the Special Committee and the board of directors of CanniMed (the “Board”) will review the Proposal, in consultation with their respective legal and financial advisors, and will respond in due course.
CanniMed shareholders are reminded that they have an attractive and accretive transaction available to them now. CanniMed’s acquisition of Newstrike Resources Ltd. (TSX-V: HIP) will create a premier global cannabis company that is uniquely positioned to offer innovative, high quality products with two top tier distinct brands uniquely positioned to address key product trends and emerging drivers of growth in the medical and adult-use recreational cannabis markets. The addition of Up Cannabis Inc. and a strategic partnership with The Tragically Hip to the Company allow us to realize our strategy to become the preeminent cannabis leader in Canada and worldwide. The combined company will have increased operational scale with a targeted 45,000 kg of production capacity by 2019, improved capital markets presence with a pro-forma capitalization exceeding $500mm, and is expected to be accretive (before synergies) on key metrics by 2019.
Shareholders are advised to take no action on any proposal from Aurora until they have received further communication through the Director’s Circular, which will be provided to shareholders as soon as practical.
Shareholders with questions should call CanniMed’s strategic shareholder services advisor, Kingsdale Advisors, at 1-888-518-1554.
Advisors
Kingsdale Advisors is acting as strategic shareholder and communications advisor. AltaCorp Capital Inc. is acting as financial advisor to the Board and Borden Ladner Gervais LLP is acting as legal advisor to the Board. Cormark Securities Inc. is acting as financial advisor to the Special Committee and Stikeman Elliott LLP is acting as legal advisor to the Special Committee.
Read more at https://www.stockhouse.com/news/press-releases/2017/11/22/cannimed-therapeutics-forms-special-committee-for-potential-unsolicited-offer#x2YIC2dLxzP25tPD.99