January 18, 2018 / 4:58 PM / 7 months ago

CanniMed in talks with Aurora, postpones shareholder vote on Newstrike deal

TORONTO, Jan 18 (Reuters) - Canadian cannabis producer CanniMed Therapeutics Inc has postponed to Jan. 25 a shareholder vote on its proposed takeover of Newstrike Resources Ltd in order to discuss a possible transaction with rival producer Aurora Cannabis Inc.

Aurora, which launched a hostile bid for CanniMed in November, and CanniMed have agreed to a standstill agreement, under which neither will solicit proxies or seek control of any additional shares of the target until Jan. 21 at 11:59 p.m., CanniMed said in a statement on Thursday.

Newstrike shareholders on Wednesday voted in favour of CanniMed's takeover of the company. (Reporting By Nichola Saminather)

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