Aurora Cannabis and CanniMed Therapeutics finally agreed to the previously hostile takeover saying that they’ve now agreed on friendly terms. In a deal valued at $1 billion, Aurora is paying $43 a share for CanniMed, which is even more than the previously agreed upon $24 a share. Neither company is buying Newstrike Resources, which had gotten dragged into the deal when CanniMed said it would buy them in order to get rid of Aurora. Spurned Newstrike will get $9 million bucks for its trouble.
High Times Corp. filed for an offering to raise between $5 million and $50 million. The company also said it was trying to address its upcoming debt payments. The company must raise $17.2 million in order to remain listed on the NASDAQ exchange. High Times also has a debt payment of over $11 million due this August. The company’s merger with Origo Acquisition (OACQ) still has not closed and has only until March 2018 to be completed. High Times report a net loss last year but hopes to return to profitability this year.
MedMen announced that it was planning a reverse takeover in order to become a publicly traded company on the Canadian Exchange. The goal is for MedMen to become a public company during the second quarter.
GW Pharmaceuticals (GWPH) got one step closer to getting its epilepsy drug into the marketplace. The British Biotech company published positive phase three results in The Lancet publication. The company has already filed for an NDA and has a PDUFA goal set for the end of June. It looks like Epidiolex could be available for commercial sales sometime this year.
Privateer Holdings announced it had raised $100 million.
Premium cannabis company Canndescent raised $10 million.
True Leaf Medicine also said that it raised $10 million through a RegA+ offering.
And the MJIC Marijuana Index added seven new companies to its Canadian Index.