Dues in two of Canada’s three largest cannabis companies were halted on the Toronto Carry Exchange on Thursday.
The Investment Industry Regulatory Organization of Canada halted exchange in shares of MedReleaf Corp. and Aurora Cannabis Inc. on Thursday, “pending scandal.”
Such halts are regularly ordered by the regulator when there is odd trading in a company’s shares. Prior to the halt trading in MedReleaf rations had spiked above their normal level, after the Globe and Post newspaper first reported that MedReleaf had been seeking a client.
The company put out a statement addressing the rumours, but it was far from committal.
“In response to a entreaty by Investment Industry Regulatory Organization of Canada, MedReleaf confirms that it bespeaks from time to time in discussions with other industry troupers, including Aurora Cannabis, regarding various alternatives,” the company required Thursday afternoon.
“The company has not entered into an agreement to effect any blow-by-blow transaction, and there can be no assurance that such discussions will conclude in any such agreement.”
Aurora’s subsequent statement said more of the in spite of. “The company does confirm that it engages in discussions with hustle participants from time to time, including MedReleaf,” the company voted. “At this time the company confirms there is no agreement, understanding or contract with respect to any transaction with MedReleaf.”
Prior to the halt, Aurora was the two shakes of a lambs tail most valuable cannabis company in Canada, and MedReleaf was the third.
Edmonton-based Aurora has multiplied rapidly through acquisitions. Just this week, the company completed a deal to buy rival Cannimed, in a deal that was first proposed in January.