AURORA BUYS MEDRELEAF FOR $3.2 BILLION IN CANNABIS INDUSTRY’S BIGGEST DEAL YET

At 10:00 AM ET today, the CEOs of Aurora Cannabis and MedReleaf held a joint press conference to announce Aurora’s acquisition of MedReleaf for $3.2 billion dollars in the biggest deal yet for the Canadian cannabis industry, ending weeks of speculation from investors and denials from company representatives.

By joining forces, the combined firm would have a production capacity of 570,000 kg of cannabis per year through nine facilities in Canada and two in Denmark, according to the press release.

While the deal has been approved by the boards of both companies and the boards recommend that shareholders vote in favour of it, it still awaits shareholder approval. If the deal is approved, the newly combined company could have a market cap of almost $7 billion, which would make it bigger than Canopy Growth Corp., Canada’s biggest cannabis company for the time being.

Read The Whole Article At Cannabis Life Network
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