Aurora Cannabis, MedReleaf deal lifts Canadian weed stocks

East Side Games

14/05/2018 16:27

** Shares of Canadian marijuana companies rise after Aurora
Cannabis  ACB.TO  announced a C$3.2 bln ($2.51 billion) deal to
buy rival MedReleaf Corp  LEAF.TO , the biggest deal in the
history of the country's young cannabis sector  urn:newsml:reuters.com:*:nL3N1SL471
    ** Shares of Aurora Cannabis up 0.7 pct and Canopy Growth
 WEED.TO  up ~9.5 pct, both among most actively traded stocks
across all Canadian exchanges 
    ** Among other gainers, Aphria  APH.TO  rises nearly 7 pct
and MedReleaf shares climb 3 pct 
    ** The Aurora-MedReleaf deal is the latest in a wave of
mergers among pot growers in Canada as the country moves to
legalize cannabis for recreational use  urn:newsml:reuters.com:*:nL3N1SL52O
    ** Aurora completed its acquisition of CanniMed, which was
worth C$1.1 bln when announced in Jan was the second largest
deal in Canada's cannabis sector  urn:newsml:reuters.com:*:nCNWBdstwa
     ** Aurora is Canada's the second biggest legal cannabis
company by market cap, second only to Canopy Growth  
     ** Separately, Canopy Growth announced that it has applied
to list its shares on the NYSE and said will trade on the NYSE
under the ticker symbol "CGC" and will continue to trade on the
TSX under the ticker symbol "WEED"  urn:newsml:reuters.com:*:nPncbHJTKa
    ** Canada's Horizons Marijuana Life Sciences exchange-traded
fund (ETF)  HMMJ.TO  has slipped ~5.7 pct this year 

 (Reporting by Shreyashi Sanyal in Bengaluru)
 ((RM: Shreyashi.Sanyal.thomsonreuters.com@reuters.net))