OSC cease-trades CanniMed rights plan, orders Aurora to rectify disclosures

The Ontario Securities Commission has expelled a cease-trade sequence for any bonds expelled by CanniMed Therapeutics Inc. as a counterclaim opposite a antagonistic takeover by Aurora Cannabis Inc. 

The OSC is also grouping Aurora to rectify a take-over bid round and associated press releases to embody certain information that could impact CanniMed’s shareholders when they confirm to accept or reject a offer.

Among other things, Aurora is systematic to divulge how it became wakeful that CanniMed’s house would accommodate on Nov. 13 to cruise an agreement to buy Newstrike Resources Ltd. 

• CanniMed seeks regulatory movement opposite Aurora’s antagonistic takeover bid

• CanniMed adopts shareholder rights devise in takeover quarrel with Aurora Cannabis

The OSC pronounced it denied other service sought by Aurora, CanniMed and a special cabinet of CanniMed’s board.

The sequence — antiquated Dec. 22 though expelled Wednesday — was done following a corner conference final week involving a Saskatchewan and Ontario bonds commissions.

CanniMed argued that Aurora worked jointly with some of a shareholders, a position doubtful by Aurora. One of a conditions was that CanniMed desert a devise to buy Toronto-based Newstrike.

Article source: http://www.cbc.ca/news/business/osc-cannimed-aurora-rights-plan-1.4465262?cmp=rss