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Aurora Cannabis acquires 95.9% of CanniMed Therapeutics

Aurora Cannabis Inc. said it has acquired 95.9% of CanniMed Therapeutics Inc.'s common shares.

The company acquired CanniMed in a C$1.1 billion deal and previously held 86.8% of the company's total outstanding shares on a fully diluted basis.

Aurora will acquire the remaining outstanding shares of the Saskatchewan-based medical cannabis company through a compulsory share acquisition, pursuant to the Canada Business Corporations Act.

The medical cannabis company intends CanniMed to delist from the Toronto Stock Exchange.

Aurora expects to close the subsequent acquisition transaction and delisting toward the middle of the second calendar quarter of 2018.