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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