AltaCorp Capital Inc.

AltaCorp Capital Inc., financial advisor to CanniMed Therapeutics in connection with the acquisition by Aurora Cannabis Inc.

Client

AltaCorp Capital Inc.

Value

$1.1 billion

Service

Cannabis

Date Closed

January 2018

Industry

Health

Lead Office

Toronto


 

On January 24, 2018, Aurora Cannabis Inc. (“Aurora”) announced it has entered into a support agreement whereby Aurora will acquire all of the issued and outstanding shares of CanniMed Therapeutics Inc. (“CanniMed”) not owned by Aurora. The total consideration for CanniMed under the offer is approximately $1.1 billion based on Aurora's implied share price of $12.65. The new offer was made in place of a hostile takeover bid of CanniMed by Aurora.

In connection with the acquisition by Aurora, CanniMed has terminated its previously announced agreement to purchase Newstrike Resources Ltd. ("Newstrike") in an all-stock deal under which Newstrike shareholders would have received 33 CanniMed shares for each 1,000 shares of Newstrike.

Osler is acting as counsel to AltaCorp Capital Inc., the financial advisor to CanniMed in all transactions, with a team consisting of Mark Trachuk, and Alex Gorka and Justin Dharamdial (Corporate) and Shawn Irving (Litigation).


Team
Alex Gorka

Alex Gorka

Partner, Corporate

Justin Dharamdial

Justin Dharamdial

Associate, Emerging and High Growth Companies

Shawn Irving - Commercial Litigation Lawyer

Shawn Irving

Partner, Litigation