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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Aurora Cannabis Inc    ACB   CA05156X1087

AURORA CANNABIS INC (ACB)
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Canada's Aurora Cannabis boosts stake in Australia-based Cann Group

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12/04/2017 | 05:19pm CEST

(Reuters) - Canada's Aurora Cannabis Inc (>> Aurora Cannabis Inc) said on Monday it increased its stake in Australia-based Cann Group Ltd (>> Cann Group Ltd) to 22.9 percent from 19.9 percent, its latest move to expand in the cannabis industry.

(Reuters) - Canada's Aurora Cannabis Inc (>> Aurora Cannabis Inc) said on Monday it increased its stake in Australia-based Cann Group Ltd (>> Cann Group Ltd) to 22.9 percent from 19.9 percent, its latest move to expand in the cannabis industry.

Aurora, already Cann Group's largest shareholder, said it bought the shares at A$2.50 ($1.90) apiece.

Shares of Cann Group ended 4.7 percent higher at A$3.14 on the Australian Stock Exchange on Monday.

Cann Group was the first Australian company to receive a license to research and cultivate cannabis for medical purposes.

Aurora will also invest C$12 million ($9.4 million) in Canadian biotechnology company Radient Technologies Inc <RTI.V>. The investment will increase Aurora's stake in Radient to 19.18 percent from 8.8 percent.

The investments come as Aurora - one of Canada's biggest cannabis makers - looks to expand ahead of expectations that Canada will legalize the production, sale and consumption of recreational marijuana.

Aurora is also trying to buy medical marijuana company CanniMed Therapeutics Inc (>> CanniMed Therapeutics Inc), which last week adopted a "poison pill" plan to prevent a takeover.

Radient's stock rose nearly 10 percent on Monday on the TSX Venture Exchange.

(Reporting by Yashaswini Swamynathan and Taenaz Shakir in Bengaluru; editing by Sai Sachin Ravikumar)

Stocks mentioned in the article
ChangeLast1st jan.
AURORA CANNABIS INC -3.35% 11.84 Delayed Quote.27.60%
CANN GROUP LTD 0.00% 2.9 End-of-day quote.5.84%
CANNIMED THERAPEUTICS INC -5.26% 27 End-of-day quote.17.65%
S&P/TSX COMPOSITE INDEX 0.06% 16224.13 Delayed Quote.0.03%
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Financials (CAD)
Sales 2018 61,1 M
EBIT 2018 -52,7 M
Net income 2018 -78,1 M
Finance 2018 8,00 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019 181,17
Capi. / Sales 2018 169x
Capi. / Sales 2019 22,9x
Capitalization 10 347 M
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Mean consensus BUY
Number of Analysts 4
Average target price 10,1  CAD
Spread / Average Target -7,1%
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Managers
NameTitle
Terry Booth Chief Executive Officer & Non-Independent Director
Steve Dobler President & Director
Michael Singer Chairman
Allan Cleiren Chief Operating Officer
Glen W. Ibbott Chief Financial Officer
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