Cronos Australia eyes best day ever on deal to acquire medicinal cannabis firm

Vitura Health

14/09/2021 04:07

** Shares of Cronos Australia  CAU.AX  climb as much as
33.3% to A$0.14, biggest ever intraday pct gain
    ** Medical cannabis supplier says it executed an agreement
to acquire Queensland-based medicinal cannabis company CDA
Health Pty Ltd  urn:newsml:reuters.com:*:nASX7VyRPY
    ** CAU will offer up to 439.8 mln fully paid ordinary shares
and up to A$5 mln in cash to CDA's shareholders
    ** Following deal completion, CDA shareholders will own
between 73.7% and 75.3% of issued share capital in CAU
    ** CAU shares at highest since April 20
    ** More than 762,000 shares change hands vs 30-day avg
volume of ~85,000 shares
    ** CAU stock down 19.2% this year, as of last close

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))