Canopy Growth Offloads Stake in AusCann

  • Oct 15, 2019 AEDT
  • Team Kalkine

AusCann Group Holdings Limited (ASX: AC8) had notified that Canopy Growth Corporation has sold its 13.2% interest in AC8, equating to approximately 42 million shares.

  • Sale was conducted in an off-market transaction.
  • Majority (11.43%) was acquired by Merchant Funds Management Pty Ltd.
  • Canopy would continue to collaborate with AusCann.
  • AusCann remains committed to pharmaceutical product development.

By 1:41 PM AEST, AC8 was trading at $0.277, down by 10.6% relative to the last close.


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