Aurora Cannabis shares rise on reported talks with Coca-Cola

Aurora Cannabis shares rise on reported talks with Coca-Cola
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EDMONTON — Shares of Aurora Cannabis Inc. were up as much as 17 per cent today after a report the marijuana producer was in talks with the Coca-Cola Company to develop pot-infused drinks.

The Edmonton-based company’s stock briefly rose above the $10 mark in early trading after the report by BNN Bloomberg, citing sources.

Aurora Cannabis shares traded for $9.62, up nearly 13 per cent, by 10 a.m. ET.

Sources told BNN Bloomberg that the world’s largest beverage company is interested in developing drinks that are infused with cannabidiol, the non-psychoactive element in cannabis also known as CBD.

A spokeswoman for Aurora Cannabis said the company has expressed interest in infused drinks and intends to enter that market, but it does not discuss business development initiatives until they are finalized.

Coca-Cola was not immediately available for comment.

 

Companies in this story: (TSX:ACB)

 

The Canadian Press

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