Golden Opportunities Fund Exits CanniMed Therapeutics With Massive Return
By Ted Liu, Private Capital Journal
Golden Opportunities Fund Inc. (GOF), a retail fund managed by Westcap Mgt, has sold 4,020,292 common shares of CanniMed Therapeutics Inc. (TSX: CMED) to Aurora Cannabis Inc. (TSX: ACB; OTCQB: ACBFF; FSE: 21P; WKN: A1C4WM) pursuant to Aurora’s take-over bid for all of the issued and outstanding common shares.
On January 24, 2018, Aurora Cannabis agreed to acquire CanniMed with CanniMed shareholders receiving 3.40 Aurora shares for each share held, or a combination of cash and shares subject to pro-ration with the maximum aggregate cash consideration of $140 million.
Aurora Cannabis completed the acquisition on March 15, 2018. Aurora Cannabis stock closed $11.25 on March 15, implying a value of $38.25 for each CanniMed shares.
Golden Opportunities Fund Inc. – Early Warning News Release
SASKATOON, March 15, 2018 /CNW/ – Golden Opportunities Fund Inc. (the “Fund”) pursuant to the early warning requirements of National Instrument 62-103 and 62-104, announced today it sold 4,020,292 common shares (“Common Shares”) of CanniMed Therapeutics Inc. (“CanniMed”), representing all of the Common Shares that it previously owned, to Aurora Cannabis Inc. (“Aurora”) pursuant to Aurora’s take-over bid for all of the issued and outstanding Common Shares.
As a result of the sale, the Fund’s direct and indirect beneficial ownership and control over Common Shares was reduced from approximately 16.4% percent of the issued and outstanding Common Shares to zero percent of the issued and outstanding Common Shares.
The Fund sold the Common Shares to realize a gain on its investment in Common Shares. The Fund has no intention of acquiring any Common Shares in the future.
The head office of CanniMed is located at 1 Plant Technology Road, Box 19A, RR #5, Saskatoon, Saskatchewan S7K 3J8.
SOURCE Golden Opportunities Fund Inc.
For further information: and to obtain a copy of the early warning report to be filed under applicable Canadian securities laws in connection with the foregoing matters, please see the profile of CanniMed at www.sedar.com or contact the Fund at (306) 652-5557.