Leading Canadian cannabis company Aurora Cannabis has confirmed market speculation that it has been engaged in potential takeover talks with fellow industry operator MedReleaf.
“The Company does confirm that it engages in discussions with industry participants from time to time, including MedReleaf,” Aurora Cannabis stated. “At this time the Company confirms there is no agreement, understanding or arrangement with respect to any transaction with MedReleaf.”
The speculation came as the Investment Industry Regulatory Organization of Canada halted trading in shares of both MedReleaf Corp and Aurora Cannabis, “pending news”.
“The Company has not entered into an agreement to effect any particular transaction, and there can be no assurance that such discussions will result in any such agreement,” MedReleaf confirms.
A successful acquisition would not come as much of a surprise, with Aurora Cannabis having become the world’s largest cannabis company after it closed the acquisition of CanniMed in a $1.1bn deal – an agreement that was first revealed in January of this year.