MedReleaf Corp. and Aurora Cannabis Inc. shares have been halted, pending news.
The trading halts of the licensed medical marijuana producers’ stocks comes after The Globe and Mail reported that MedReleaf was seeking a buyer, according to sources.
The Globe also cited a source saying the Edmonton-based Aurora had submitted a friendly offer to acquire the Markham, Ont.-based cannabis firm.
Consolidation in the Canadian marijuana sector has been accelerating as the country prepares to legalize cannabis for recreational use later this year.
Aurora Cannabis yesterday completed its acquisition of Saskatoon-based licensed producer CanniMed Therapeutics after striking a $1.1 billion stock-and-cash deal in January.
In February, rival licensed producer Aphria Inc. completed its acquisition of B.C.-based Broken Coast Cannabis Inc., a transaction valued at more than $200-million in stock-and-cash.
The Canadian Press
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