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Again a ruling from a commission, not a court of law. They were not asked to rule on whether the use of inside information obtained illegally was the case. Their ruling only says that based on the rules and regulations of the commission, the take over offer would not be treated as an inside bid, so naturally they ruled that the 36% and acb was not an inside bid. The court will determine whether inside information was used to construct the bid....
In the states this is considered a frivolous lawsuit and is without merit. It is meant to cause fear in the hopes the party being sued stops what they are doing even if it is LEGAL.
Direct excerpts from the ruling:
“Furthermore, CanniMed's application to determine that Aurora and the Locked-Up Shareholders had acted jointly or in concert, and to deem the Offer an insider bid, were also both rejected.”
"Aurora has secured key legal victories that take us a big step forward towards acquiring CanniMed, and integrating its team and operations into our organization to further build the preeminent global cannabis company," said Terry Booth, CEO.
I have a lot of faith in Brent Zettl. I am long Cmed as a multi year play on the weed market, specifically the medical market where margins are going to be multiples higher then rec market. And Cmed pumping out 12 million 60 mil bottles of oil, with the capital structure in place, earnings per share should be very attractive....
Again based on the definition of the securities commission rule and regs...they only ruled that they will not treat the take over as an insider bid, which by the way is not illegal. What’s illegal and forms the basis of cmeds lawsuit was that aurora used inside information to construct their bid. The securities commission is not within there justification to rule whether aurora used inside information, the courts will rule on that based on the evidence. I think aurora made a huge error in not calling Cmed before the lock up agreements....and based on the affidavit they have some explaining to do in front of a judge. Wonder what the blacked out sections contain?
Stop misinforming...the commission ruled that it wasn’t an Insider bid as per the definition of their rules and regulations. That’s much different then being sued for using insider information to construct a hostile take over attempt. I post truth not lies.
I have read most of dogger03's posts and I have to say that I agree with him very much so. I was long cmed but now I am no "longer" in that mindset. Aurora is a big company and they will not crush me because I believe self defense. Mr. Zettle is a fighter like me, even if we get scraps and get bloody. Just because we bruise easily does not mean we cannot fight with all of our might, right dogger03. We have to stay united and watch Mr. Zettle battle and hope we don't need to take him to the hospital because that would not be good for Cmed. Cmed "short fight: for me because I do not want to go to hospital.
Refresher for newbs or uninformed investors on the legality of the takeover of CMED by Aurora.
https://mobile.tmxmoney.com/quote/readnews/?id=6692157107660324&symbol=ACB
If the Securities commission determined this was not an insider deal then the higher courts will more than likely follow suit if it even makes it that far. Don’t be deterred by the few here posting opinions and nonsense with no backing they are paid pumpers and shorts and not real investors. Read the actual results for yourself in the article above.
Agreed as Cannimed management will be the first to go upon takeover.
They cost themselves time and money and worst possible they now lost respect and credibility of the industry.
I'm looking forward to the CanniMed and Aurora merger ....working together and forging ahead into this new Green Universe. Together both companies will be stronger and the shareholders of both companies will be wealthier. Apart, CanniMed will be gobbled up by someone else or linger behind while Aurora continues its expansion. Big fish eat little fish. that is the way it works. good luck to everyone in the Green industry. i am bullish, no doubt!
Of course they don’t if the deal falls through Newstrike is Bankrupt.
Newstrike and the tragically hip don’t share your opinion...that acb buy you claimed to make the other day is in peril...watch what happens to your shares on Monday
No the shareholders were acting against the best outcome for Cmed...and now they pay for their stupidity...that’s how it works, shareholders or not...I encourage you to actually read the affidavit of Terry booth...I know it’s 126 pages but you need to invest some time before making dumb comments
Acb approached cmed with the anticipations of merging. Cmed didn't want the deal, acb pursued to do a hostile take over so put 2 and 2 together and in the long run its ending in a lawsuit. One company didn't want to merge the other starts a hostile takeover. Lawsuits are common now a days, let's see how it turns out.
Suing the SHAREHOLDERS! Wow. now that gives shareholders confidence in CEO. What does he expect the outcome to be? That just feels bad and no doubt the company and the public will loss confidence in CMed. He is setting up the company to fail.... bad karma and negative culture, bad reputation among consumers too.
CMed should be a private company, not a publicly traded company.
It’s gonna get tossed just like their last feeble attempt. Suing your own shareholders is never a good idea. Any CMED shareholders that did not tender their shares should really reconsider if they want to be loyal to a CEO that will sue them, i mean that is scary. Brent is grasping at air here he will lose the company either by Aurora or another company.
It seems we will not be required to wait long before our answer. The action has not been filed as I understand. It will be very interesting!! I typically discount opinions when the person or entity has a clear vested interest. They tend to be driven by emotion. Most everything I find of those that claim not to have a dog in the fight feel it will not go as you anticipate, there are some however that agree with you. We will all(entire sector) be watching and waiting for the outcome.
Anyone here think that the lawsuit, which by all account hi-lights some very serious and illegal actions taken by acb and the gang, is gonna end up as cannimed doing a reverse take over of acb? If acb loses all its cash will be wiped out as will the company and Cmed will own aurora sky, and aurora vie, and all the other facilities acb owns. Wouldn’t that be something else?
And stockhouse is down so that’s bullchit
No the legal action is going to add future value to the share price....this whole thing smells really bad and acb and the gang are going to be held to account. The damages will worsen if the hip/Cmed deal gets interfered with...this deal will bankrupt acb...that’s how dumb Terry booth is...it’s like cannimed is doing an rto of acb....love it
Post from Stock house. ---Quietinvestor wrote: My sense having read both releases from Aurora and CMED is that the leadership at CMED just lost any credibility and support they had from all investors and the industry.
For CMED to legally go after their own shareholders (including Aurora who is a sharehlder), a Director of the Board and CANNACORD to seek damages will not been seen well, not only across the MJ sector, but the entire business sector. Secondly, they have just alientated themseleves in the industry - who will want to work with them going forward?.
Clearly poor leadership, and bad management got them into this mess. They realize with this legal action that the takeover by Aurora was inevitable.This was the "last play of a game with 10 seconds left and no time outs left" by CANIMED.
Very disappointing.
Threatening too sue Aurora for 700 million dollars, Aurora will destroy them CMed in court, in fact they won the last one empty threats he knows he is losing his job, along with everyone at CMed headquarters should be a happy day for them if the own CMed.
Aurora buys 7,400 CMed shares today, 24.00 plus change I feel we are very close to owning this company.
I vote no for acb their stock looks like a sinking ship, the deal isn't good for me
hope you are correct, we should know pretty soon, what will take place. My money is on Aurora all the way!!!
BRIEF-Aurora Cannabis Announces Intention To Launch Takeover Bid For Cannimed Therapeutics
BY Reuters
— 7:41 PM ET 01/12/2018
Jan 12 (Reuters) - Aurora Cannabis Inc ( ACBFF ):
* AMENDED AND RESTATED NEWS RELEASE - AURORA CANNABIS ANNOUNCES INTENTION TO LAUNCH TAKEOVER BID FOR CANNIMED THERAPEUTICS INC.
* AURORA- ?INTENDS TO MAKE OFFER TO BUY ALL OF ISSUED, OUTSTANDING COMMON SHARES OF CANNIMED FOR CONSIDERATION CONSISTING OF COMMON SHARES OF CO
* AURORA - ?OFFER WILL PROVIDE HOLDERS OF CANNIMED SHARES WITH 4.52 CO'S SHARES FOR EACH CANNIMED SHARE, SUBJECT TO MAXIMUM OF $24.00 PER CANNIMED SHARE?
* OFFER PRICE REPRESENTS A 56.9% PREMIUM OVER CLOSING PRICE OF CANNIMED SHARES ON NOVEMBER 14, 2017?
Source text for Eikon: Further company coverage:
Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
Just too funny!!!
Aurora announces a buyout and CMED shares propel from 16-17 PPS to 24 PPS and the shareholders are hurt blahhhhhh what a joke. Brent is in desperation mode he has already lost but just can’t give up out of pride.
Aurora is in big big trouble
https://mobile.tmxmoney.com/quote/readnews/?id=8772731281477162&symbol=CMED
Oh wait they just announced a 7400 share purchase today....689,000 shares....lol the meeting is just over a week away they better buy buy buy....but they can’t stop the votes it’s already done and the shares acb is acquiring aren’t eligible to vote....record date was nov 30th....hip is in the back pocket....Brent Zettl is god
No they need to announce their buys....a requirement of their hostile bid.....no announcements no buys...they only hold aprox 650,000....about 2.3%
I don’t think they need to buy anymore they are more than likely already over the 50% mark to halt the NewStrike deal. They only bought as many shares as they needed to get them to that point.
The number biggy is a big fat biggy zero....and now another major shareholder of hip is supporting the Cmed merger....deal is dead biggy....hope u don’t lose too much money in acb
Wonder how many CMed shares we picked up today, will know at end of trading day What Aurora buys. Should be few hundred thousand at this price.
CanniMed Announces German Distribution Agreement with Fagron
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/10/CMED-CMMDF-CanniMed-Announces-German-Distribution-Agreement-with-Fagron
SASKATOON, Saskatchewan--(BUSINESS WIRE)--CanniMed Therapeutics Inc. (TSX:CMED) (OTC:CMMDF) (“CanniMed” or the “Company”) is pleased to announce that it has entered into a global marketing and distribution agreement (the “Agreement”) with the leading global pharmaceutical compounding company Fagron NV of Rotterdam, The Netherlands (Euronext Brussels: FAGR and Euronext Amsterdam: FAGR). Under the Agreement, Fagron and CanniMed will work closely together in utilizing Fagron’s extensive infrastructure to supply CanniMed’s medicinal cannabis products in Germany and other specified countries. Pursuant to the terms of the Agreement, CanniMed is working to supplement its Canadian GMP compliant status with GMP certification in Europe for its cannabis products, which it anticipates will be achieved in Q2 2018. Fagron and CanniMed anticipate first product sales into Germany will commence in Q3 2018, subject to obtaining required export permits.
Pursuant to the Agreement, CanniMed is Fagron’s supplier of cannabis products in the specified countries and the two companies will commit resources to develop and execute a combined marketing and distribution strategy to establish CanniMed as a strong brand in these countries.
“Fagron is perfectly positioned in the highly attractive German market as well as several other countries to drive the penetration of our pharmaceutical grade cannabis products. Our first primary target market, Germany, is particularly exciting as it has legalized medicinal cannabis for distribution through pharmacies and with a population of over 82 million which is more than double that of Canada” said Brent Zettl, President and CEO, CanniMed. “Fagron brings the connections, experience and market credibility to be a highly impactful partner for us internationally. We anticipate that the majority of medicinal cannabis products demanded in these countries will be oils and oil derivate products such as capsules, sublingual wafers and topical creams. The first 12 million 60 ml bottles phase of our 50 million bottles per year oils plant will be coming onstream in late 2018 and will be the foundation for meeting escalating international and domestic medicinal oils demand.”
Rafael Padilla, CEO of Fagron stated “We are very pleased to be working with an industry-leading company such as CanniMed and we believe the German market is a prime target for CanniMed’s highly respected cannabis products, driven by widespread acceptance in Germany of the many medicinal benefits of cannabis. We believe CanniMed has the opportunity to become a long-term major medicinal brand in Germany, where demand for medicinal cannabis products exceeds supply. We are confident that our depth of cannabis and pharmaceutical experience together with our established marketing infrastructure and connections in Germany and other countries combined with CanniMed’s leading expertise and products will be very effective in achieving international market penetration of CanniMed’s products.”
About CanniMed Therapeutics Inc.
CanniMed is a Canadian-based, international plant biopharmaceutical company and a leader in the Canadian medical cannabis industry, with 17 years of pharmaceutical cannabis cultivation experience, state-of-the-art, GMP-compliant production process and world class research and development platforms with a wide range of pharmaceutical-grade cannabis products. In addition, the Company has an active plant biotechnology research and product development program focused on the production of plant-based materials for pharmaceutical, agricultural and environmental applications.
CanniMed, through its subsidiaries, was the first producer to be licensed under the Marihuana for Medical Purposes Regulations, the predecessor to the current Access to Cannabis for Medical Purposes Regulations. It was the sole supplier to Health Canada under the former medical cannabis system for 13 years, and has been producing safe and consistent medical cannabis for thousands of Canadian patients, with no incident of product diversion or recalls.
For more information, please visit our websites: www.cannimed.ca (patients)
and www.cannimedtherapeutics.com (investors).
About Fagron NV
Fagron NV, located in Waregem, Belgium and with operational head office in Rotterdam, The Netherlands, is publicly listed (FAGR) on Euronext in Brussels, Belgium and Amsterdam, The Netherlands. Fagron has over 2,000 employees and is active in 34 countries around the world, with a focus on the core regions Europe, South America and the United States. Fagron is a leading global pharmaceutical compounding company, bringing personalized pharmaceutical care to hospitals, pharmacies, clinics and patients.
In Germany, Fagron’s extensive infrastructure is connected into the country’s approximately 22,000 pharmacies, where it is active in distributing a wide range of pharmaceutical products.
For the year ended December 31, 2016 Fagron reported global revenue of €422 million ($CAN633 million) and EBITDA of €87 million ($CAN130 million).
Notice Regarding Forward Looking Statements
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of CanniMed to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
These forward-looking statements include, but are not limited to, statements relating to our expectations with respect to: anticipated product sales revenue by CanniMed and first product sales in Q3 2018. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. In respect of the forward-looking statements and information concerning the Agreement and its anticipated benefits. CanniMed has provided such statements and information in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the ability of CanniMed to obtain all required permits and approvals for sales to Germany. There can be no assurance that the revenue to be generated from product sales will not be adversely affected by production or supply delays and changes in market prices. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks including delays in permitting and production. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on other factors that could affect the operations of CanniMed are included in documents on file with applicable securities regulatory authorities, including the Annual Information Form of CanniMed dated December 8, 2017, available on sedar.com.
The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. CanniMed does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.
Neither the Toronto Stock Exchange or its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Guys please vote for ACBFF by Jan. 18. The other deals is crap and will kill this PPS and company fast.
I saw that....they mailed it to me. I used it for arse wipe....saved me 12 bucks on toilet paper
Luck can do wonderful things for people....your exhibit A if what you say is true....
So i guess Aurora made me a stupid millionaire then. I am pretty happy being stupid lol
Maybe the best idea is for ACB shareholders and ACB to dump all the cannimed shares that have been purchased and move on. Good luck shareholders, I wish the best for all. Here to make money, not to hear goofs trying to impress with their self perceived savvy.(both sides of discussion).My motivation is searching for news in visiting this board. I am not hardly new to stock investing, but very new to this sector. News flash people: It has not taken a great amount of knowledge to kill this market. The fact you have made money does not demonstrate your skill level. ALMOST everyone has...you are not special, just wise enough to recognize a cash cow before most. Congratulations and STFU!!
Slowly Aurora is eating away cannimed shares and very soon it will be under Auroras management.... oh boy the future is bright!
Aurora purchases 91,800 shares of CMED
https://mobile.tmxmoney.com/quote/readnews/?id=7559049584089116&symbol=ACB
Average price paid for the CanniMed shares purchased through a published market since the Commencement of the Offer
$22.9817
Total Number of CanniMed Shares held by Aurora after the Purchase
657,800
Your a lamb if you’ve invested in Aurora....I get calls from non stock market people asking my advice on whether they should buy Aurora...wonder why it’s only the novices talking about Aurora...my professional colleagues and I laugh so hard when we talk about Aurora...it’s a joke as much as their shareholder base...now run along and eat some more....gotta fatten these lambs up for the inevitable slaughter...
So... maybe he wants to be in the limelight and feel comridary. Who knows?? Btw... money has NOTHING to do with it! Bill Gates 50 Billion. Warren Buffet 60 Billion they both work so your point doesn’t actually make sense. Just because you have a lot of money doesn’t mean you don’t have to work!
Carter007 out.
Why does bent need a job? His holdings are worth north of 50 million....
Cannot wait till ACBFF owns these guys. Fire everyone and move on. Cost us a ton in delays.
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