Skip to main content

Cannabis seedlings at the Aurora Cannabis facility in Montreal.

Ryan Remiorz/The Canadian Press

Part of cannabis and investing

Aurora Cannabis Inc. has signed an agreement to acquire marijuana company ICC Labs Inc. in an all-stock deal it valued at $290-million.

Under the friendly agreement, ICC shareholders will receive 0.2448 of an Aurora share for each ICC share making the deal worth $1.95 a share.

Story continues below advertisement

ICC shares closed at $1.79 on the TSX Venture Exchange on Friday.

Aurora says ICC has over 70 per cent market share in Uruguay, where cannabis is legal for adult consumer use. ICC also holds licenses in Colombia for the production of medical cannabis.

The transaction is subject to court approval and a two-thirds majority vote by ICC shareholders.

Union Group International Holdings Ltd., which holds about a 29 per cent stake in ICC, has agreed to support the deal.

Report an error
Tickers mentioned in this story
Unchecking box will stop auto data updates
Comments

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • All comments will be reviewed by one or more moderators before being posted to the site. This should only take a few moments.
  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed. Commenters who repeatedly violate community guidelines may be suspended, causing them to temporarily lose their ability to engage with comments.

Read our community guidelines here

Discussion loading ...

Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.
Cannabis pro newsletter