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Aurora Cannabis shares jump after U.S. billionaire Peltz named as advisor

News Summed Up 2019-03-13 05:30:00

Aurora Cannabis shares soared following news that it has appointed U.S. billionaire Nelson Peltz as a strategic adviser and given him the option to buy a stake in the company. The Edmonton-based cannabis company says it has granted Peltz options to purchase nearly 20 million common shares at $10.34 per share, slightly below Tuesday's closing price. Peltz said Aurora has a "solid execution track record" and is poised to go to the "next level" across a range of industry verticals. Bringing in the high-profile adviser increases the likelihood of strategic partnerships for Aurora, said Martin Landry, an analyst with GMP Securities. "Rather, Peltz brings a network of relationships with large potential strategic companies that ACB could partner with across medical and consumer applications.


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