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 Rider420
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Registered: 06/21/17
Posts: 518
Last seen: 2 months, 21 days
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 Pot wars on the Prairies 
#830966 - 01/13/18 11:09 AM (6 years, 10 months ago) |
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Quote:
Pot wars on the Prairies
The Canadian Press - Jan 13, 2018 / 6:38 am | Story: 216187
Saskatoon-based CanniMed Therapeutics Inc. has filed a lawsuit against Aurora Cannabis Inc., alleging what it calls "multiple claims of wrongdoing" related to Aurora's hostile bid to acquire CanniMed.
In a statement released Friday evening, CanniMed says it filed a lawsuit in Ontario Superior Court alleging Aurora and others conspired to injure CanniMed's economic interests.
CanniMed says it's also seeking personal damages against one current and one former member of its board for their alleged involvement in the purported conspiracy.
It says the action, which has not yet been served, seeks $725 million in damages.
The allegations have not been proven in court.
Aurora's chief corporate officer, Cam Battley, says CanniMed is "suing their own shareholders," adding that the company should never have gone public.
"Things are a mess over there," said Battley. "They should have remained private. By going public, they have exposed themselves to the realities and the discipline of the market."
Aurora also released a statement amending some aspects of its takeover bid, but made no mention of the lawsuit.
The new statement provides greater detail on how Aurora became aware that CanniMed's board would be meeting in November 2017 to consider acquiring Newstrike Resources Ltd.
https://www.castanet.net/news/Business/216187/Pot-wars-on-the-Prairies
Yup where cannabis is still illegal they are killing each other for control of the market and where it is legal they sue. I wonder why people want all drugs legalized? Dripping in sarcasm.
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Rider420
Stranger
Registered: 06/21/17
Posts: 518
Last seen: 2 months, 21 days
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 Re: Pot wars on the Prairies [Re: Rider420]
#831166 - 01/22/18 09:40 AM (6 years, 9 months ago) |
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Truce continues in pot war
The Canadian Press - Jan 22, 2018 / 8:34 am
https://www.castanet.net/news/Business/216872/Truce-continues-in-pot-war
Quote:
CanniMed Therapeutics Inc. says its truce with rival medical marijuana company Aurora Cannabis Inc. will continue past the original Monday deadline.
The Saskatoon-based company has been fending off a hostile takeover by Aurora, which wants CanniMed to abandon its friendly takeover of Newstrike Resources Ltd.
CanniMed and Aurora's stand-still agreement provides them with an opportunity to hold talks ahead of a rescheduled CanniMed shareholder vote on Thursday.
Under the truce, neither company will solicit any proxies from CanniMed shareholders, solicit an alternative transaction or enter talks about an alternative deal.
In addition, Aurora will not acquire direct or indirect control of any additional CanniMed shares and CanniMed won't make changes to its Nov. 24 offer for Newstrike.
The Tragically Hip, a major shareholder in Newstrike, has thrown its support behind CanniMed's takeover bid.
You know Canada is getting serious about cannabis when rock bands like The Tragically Hip have millions invested. 
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