The U.S.-listed shares of Aurora Cannabis Inc. rallied 2.7% in premarket trading Wednesday after the Canada-based cannabis company said it sold off the remaining 28.83 million shares of The Green Organic Dutchman Holdings Ltd. that it owned at a price of C$3.00 a share for gross proceeds of C$86.5 million ($64.9 million). The Green Organic Dutchman’s stock closed Tuesday at C$3.51. Aurora said the sale represented 10.5% of The Green Organic Dutchman’s (TGOD) shares outstanding. Aurora said it no longer holds any shares of TGOD, but it does own warrants to buy 16.7 million TGOD shares. Aurora’s U.S.-listed shares have climbed 14.3% year to date and TGOD’s U.S. stock has run up 45.3%, while the ETFMG Alternative Harvest ETF has lost 1.2% and the S&P 500 has gained 15.9%.
Hemp Land, Cannabis Hemp Blog, 03/23/2021 10:52:00