January 24, 2018 / 1:30 PM / 3 months ago

BRIEF-Aurora Cannabis, Cannimed Therapeutics Agree To Terms On Friendly Transaction

Jan 24 (Reuters) - Aurora Cannabis Inc:

* AURORA CANNABIS AND CANNIMED THERAPEUTICS AGREE TO TERMS ON FRIENDLY TRANSACTION

* CANNIMED THERAPEUTICS INC - CANNIMED’S BOARD AND SPECIAL COMMITTEE SUPPORT AURORA’S OFFER OF SHARES AND CASH

* CANNIMED THERAPEUTICS INC - ‍TOTAL CONSIDERATION FOR CANNIMED UNDER NEW OFFER IS APPROXIMATELY $1.1 BILLION BASED ON AURORA’S IMPLIED SHARE PRICE OF $12.65​

* CANNIMED THERAPEUTICS INC - TOTAL CONSIDERATION FOR CANNIMED UNDER NEW OFFER IS ABOUT $1.1 BILLION BASED ON AURORA’S IMPLIED SHARE PRICE OF $12.65

* CANNIMED THERAPEUTICS INC - UNDER NEW OFFER, CANNIMED SHAREHOLDERS MAY RECEIVE IN RESPECT OF EACH CANNIMED SHARE, 3.40 AURORA SHARES

* CANNIMED THERAPEUTICS INC - ASSUMING MAXIMUM CASH ELECTIONS, EACH CANNIMED SHAREHOLDER WOULD RECEIVE $5.70 IN CASH AND 2.9493 AURORA SHARES

* CANNIMED THERAPEUTICS INC - ‍IN CONNECTION WITH NEW OFFER, CANNIMED HAS ENTERED INTO A TERMINATION AGREEMENT WITH NEWSTRIKE RESOURCES​

* CANNIMED THERAPEUTICS - ‍CANNIMED SHAREHOLDER MEETING ORIGINALLY SCHEDULED FOR JANUARY 23, 2018 AND ADJOURNED TO JANUARY 25, 2018 HAS BEEN CANCELLED​

* CANNIMED THERAPEUTICS INC - NEW OFFER WOULD EQUATE TO $43.00 PER SHARE

* CANNIMED THERAPEUTICS - ‍AURORA’S NEW OFFER FOR CANNIMED TO CONTINUE TO BE SUPPORTED BY CERTAIN SHAREHOLDERS REPRESENTING 36% OF CO’S SHARES

* CANNIMED THERAPEUTICS INC - CO’S TERMINATION OF AGREEMENT WITH NEWSTRIKE RESOURCES RESULTED IN PAYMENT OF A $9.5 MILLION BREAK FEE PAID TO NEWSTRIKE Source text for Eikon: Further company coverage:

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