January 22, 2018 / 3:09 PM / 2 years ago

Canadian cannabis firms CanniMed, Aurora, Newstrike rise on deal talks

TORONTO, Jan 22 (Reuters) - Shares in Canadian cannabis companies Cannimed Therapeutics Inc, Aurora Cannabis and Newstrike Resources rose in Toronto on Monday after CanniMed said it was extending discussions on a possible transaction with Aurora.

Reuters on Friday reported that Aurora was in friendly talks to acquire both CanniMed and Newstrike. Aurora in November made a hostile bid for CanniMed, which has been engaged in a friendly deal to buy Newstrike.

Newstrike Resources Ltd rose 14 percent to C$1.67, CanniMed was up 5.8 percent at C$37 and Aurora gained 5.2 percent to C$14.19 at 0952 EST (1452 GMT).

Reporting By Nichola Saminather

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