Aurora Cannabis Spinoff Cancels Merger With Hemp Company
Australis Capital, an investment company that was spun off in 2018 from cannabis industry major Aurora Cannabis (NYSE: ACB), has put the kibosh on a planned business tie-up. Australis announced this week that it has cancelled its previously announced merger with hemp products producer Folium Biosciences.
The company said in a press release that it "recently discovered new relevant information with regard to Folium and, on that basis, [Australis] has decided to not proceed with the merger." It did not elaborate.
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Source Fool.com
