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CannaRoyalty Shares Closing Details of Anandia Acquisition
Author: Bryan Mc Govern  09/08/2018 - 16:59:00

CannaRoyalty (CSE:CRZ) announced the closing of the C$115 million acquisition of its subsidiary Anandia Laboratories by Aurora Cannabis (TSX:ACB).

As quoted in the press release:

Under CannaRoyalty’s formerly disclosed investment relationship with Anandia, CannaRoyalty initially invested approximately C$4 million in Anandia, in February 2017. With the close of the Acquisition, CannaRoyalty’s equity stake in Anandia is valued at approximately C$17 million based on the closing price of Aurora shares on August 8, 2018, representing a return on investment of approximately 315 [percent] for the Company’s shareholders.

Pursuant to the acquisition agreement signed by Anandia and Aurora, Aurora purchased 100 [percent] of the issued and outstanding shares from Anandia’s shareholders in exchange for common shares of Aurora based on the 20-day VWAP (to the Effective Date) equivalent to approximately C$115 million. In addition, each Aurora share was accompanied with a warrant exercisable for 1/2 of an Aurora common share at an exercise price equal to the issue price plus 10 [percent] with a term of 5 years.

Click here to read the full press release.

The post CannaRoyalty Shares Closing Details of Anandia Acquisition appeared first on Investing News Network.

Original article: CannaRoyalty Shares Closing Details of Anandia Acquisition


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