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Aurora Cannabis files complaint against CanniMed's shareholder rights plan

Aurora Cannabis Inc. filed a complaint with two Canadian securities regulators against CanniMed Therapeutics Inc.'s shareholder rights plan.

CanniMed adopted the rights plan in response to Aurora's unsolicited takeover bid.

Aurora filed the complaint with the Financial and Consumer Affairs Authority of Saskatchewan and the Ontario Securities Commission, with the intent to strike down the rights plan.

Vancouver-based Aurora said CanniMed failed to disclose certain important information related to the Newstrike Resources Ltd. deal as required by the securities law, including failure to disclose who committed to the transaction. Aurora added that the shareholder rights plan is a "poison pill" that seems contrary to the wishes of CanniMed shareholders.

CanniMed said earlier that the plan will ensure that its shareholders are fairly treated, well-informed and not subject to coercive bids.