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CANN GROUP LIMITED — M&A Activity 2018
Apr 29, 2018
64603_rns_2018-04-29_9a277ca0-9e8d-4d53-8f54-2eb697f808ec.pdf
M&A Activity
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ASX ANNOUNCEMENT
30 APRIL 2018
TAKEOVER SPECULATION IN THE MEDIA
30 April 2018 – Cann Group Limited (ASX:CAN) refers to speculation in today’s Australian Financial Review regarding a takeover approach from Aurora Cannabis Inc.
Cann Group advises that it has not received any proposal for a takeover bid from Aurora.
The Company has recently had very preliminary and confidential discussions with Aurora in relation to a potential transaction. However, there is no certainty that any formal offer or transaction will eventuate.
The Cann Group Board will properly consider any offer or proposal it may receive having regard to all the alternatives available to the company.
Cann Group will keep its shareholders and the market fully informed and a further announcement will be made in the event of any material developments.
For further information please contact:
Matthew Wright NWR Communications +61 (0) 451 896 420 [email protected]
About Cann Group
Cann Group is building a world-class business focused on breeding, cultivating and manufacturing medicinal cannabis for sale and use within Australia and internationally (once exports are permitted). The company has established research and cultivation facilities in Melbourne and is striving to provide access to medicinal cannabis for Australian patients. Cann Group has executed collaboration agreements that will enable it to establish a leading position in plant genetics, breeding, extraction, analysis and production techniques required to facilitate the supply of medicinal cannabis for a range of diseases and medical conditions. It was issued with Australia’s first medicinal cannabis research licence in February 2017, in addition to Australia’s first medicinal cannabis cultivation licence in March 2017. Aurora Cannabis Inc – one of Canada’s largest listed medicinal cannabis companies – is a cornerstone investor in Cann, with a 22.9% shareholding.
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