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Securities commissions weigh in on big weed deal

Monday, April 09, 2018 @ 8:56 AM | By Fraser McDonald

The Ontario and Saskatchewan securities commissions recently released joint reasons for their orders issued following a joint hearing held last December in relation to an unsolicited takeover bid by Aurora Cannabis Inc. for Cannimed Therapeutics Inc., one of the oldest participants in Canada’s medical marijuana market. These reasons shed some light on how the commissions will interpret the new takeover bid regime implemented in 2016 under National Instrument 62-104.

Aurora launched its bid after being approached by an investor unhappy that Cannimed was pursuing the acquisition...