Canada's new and growing medical marijuana industry is proving to be just as cutthroat as any other emerging and aggressive business.
Vancouver-based Aurora Cannabis is continuing its acrimonious takeover battle with Saskatoon-headquartered CanniMed Therapeutics by purchasing 116-thousand common shares of CanniMed, increasing Aurora's stake in the company to 2.3 per cent.
Aurora picked up 450-thousand common shares of CanniMed just last Friday and has said it's allowed to buy up to five per cent of CanniMed's stock on the open market.
The tussle for control led to a regulatory hearing last month involving the Saskatchewan and Ontario securities commissions and both companies have said they are pleased with the resulting split decision pending Aurora's purchase offer to CanniMed shareholders. (The Canadian Press)