Cannabis companies MedReleaf, Aurora confirm merger talks, but no deal yet

Two of Canada’s leading marijuana producers, MedReleaf and Aurora Cannabis, confirmed they have held merger talks, but no agreement has been reached.

In separate statements issued Thursday, MedReleaf and Aurora acknowledged that discussions were underway.

Trading in both companies’ shares was halted temporarily on the Toronto Stock Exchange. MedReleaf is traded on the TSX as LEAF and Aurora as ACB.

MedReleaf said it “confirms that it engages from time to time in discussions with other industry players, including Aurora Cannabis, regarding various alternatives.”

Aurora issued a similar statement and confirmed that no agreement had been made.

After shares resumed trading Thursday, Aurora closed up less than 1% at 8.02 Canadian dollars and MedReleaf closed at CA$22.25, up 2%.

Across Canada, cannabis companies are gearing up for the launch of the country’s recreational market – expected to roll out later this year.

Ontario-based MedReleaf previously signed a deal to become a major supplier of medical marijuana products to a pharmaceutical distributor in Germany. The firm expects shipments to Cannamedical Pharma GMBH to commence in the coming weeks.

In April, Vancouver-based Aurora unveiled plans to build the 1.2-million-square-foot facility in Medicine Hat, Alberta.

2 comments on “Cannabis companies MedReleaf, Aurora confirm merger talks, but no deal yet
  1. Samuel Strouth on

    I juggled investing in three cannabis companies in Canada, After reading opinions & facts “I hope”.I put 4500$ in the underdog….it returned my $450 0 within a month…so I kept the profit with the company and I obviously think this company is going to be doing well….I never got financial help much,That’s why I only tried a small amount of cash,if I could have put 25,000 I definitely would’ve…So anyway thanks Aruara Cannabis and from what I’ve read this will also be profitable for health..mind,body,soul.

    Reply
  2. Keith Chapman on

    I personally think that a merger with ACB and LEAF over a long period of time would work but not at this time. C45 is still not voted on and until then Cannabis for all looks iffy.
    A buy out of Medreleaf would cost roughly 3 Billion Canadian

    The artful Bodger.

    Reply

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