January 24, 2018 / 1:25 PM / in 9 months

Cannabis producer Aurora to buy CanniMed for C$1.1 bln

Jan 24 (Reuters) - Canadian marijuana producer Aurora Cannabis on Wednesday agreed to buy CanniMed Therapeutics Inc for about C$1.1 billion ($892.21 million), gearing up to meet an expected surge in demand at home and globally.

CanniMed shareholders will receive either 3.40 Aurora shares for each CanniMed share they hold, or a combination of cash and share, the companies said.

CanniMed will also terminate its agreement to buy Newstrike Resources Ltd. ($1 = 1.2329 Canadian dollars) (Reporting by Anirban Paul in Bengaluru; Editing by Anil D’Silva)

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