CanniMed Therapeutics Inc. (
TSX: T.MED,
CMMDF,
Forum) on Wednesday released a new letter to shareholders highlighting the benefits of acquiring all the issued and outstanding shares of Newstrike Resources Ltd., and warning of the risks posed by
Aurora Cannabis Inc.’s (
TSX: T.ACB,
ACBFF,
Forum) hostile bid to acquire all of the common shares of the company.
CanniMed shares are already trading above Aurora’s capped offer of $24 and would likely be even higher if Aurora’s hostile bid was not weighing the share price down, CanniMed said in its letter to shareholders.
It also said Aurora is offering inflated shares – shares that were worth only half as much just two weeks before its hostile bid was announced.
More information can be found
here.
CanniMed is a Canadian international biopharmaceutical company and a leader in the Canadian medical cannabis industry. The company’s capsules production facility is now fully operational with rated capacity to manufacture 11,000 capsules per hour.
CanniMed Capsules area a pivotal innovation in medical cannabis therapy as they deliver medicine in a dosage form widely utilized in the pharmaceutical industry, provide precise dosage in each capsule, enhance patient convenience and will be formulated to produce long-lasting effect.
More information can be found
here.
CanniMed was in the news recently when it released its financial results for the three and nine months ended July 31, 2017. The company said sales of $4.8 million in the quarter were 80% higher than in the comparable period last year, the company said.
FULL DISCLOSURE: CanniMed Therapeutics Inc. is a paid client of Stockhouse Publishing.