Billionaire Nelson Peltz is getting into the cannabis business (ACB)

Rows of cannabis plants

Rows of cannabis plants

Aurora, the second biggest cannabis producer by market value, has also been looking beyond recreational marijuana to drive sales, especially after the legalization of hemp, which was part of 2018 US farm bill.

"I believe Aurora has a solid execution track record, is strongly differentiated from its peers, has achieved integration throughout the value chain and is poised to go to the next level", Peltz said in the statement. Aurora is a Canadian producer of marijuana that is listed in both Toronto and NY. Vinesh Pratap got a look inside Aurora Sky.

Peltz has ties to high-profile companies including Wendy's, Procter & Gamble, Sysco, and The Madison Square Garden Company. He was previously a director of H. J. Heinz Company, Legg Mason, Inc., Ingersoll-Rand plc, and Mondelēz International, Inc., among other companies.

He has served as the CEO and chairman of Triarc Companies, which owned Arby's and Snapple, and has been on several company boards. If he exercised the options, he would be the company's second-largest shareholder. Mr. Peltz began his business career by joining his family's food distribution business.

Peltz will provide his services through 280 Park ACI Holdings. The Edmonton-based company offered Peltz the chance to buy almost 20 million shares of common stock for C$10.34, which would make him the company's second-largest shareholder if he did so. The fund purchased 11,669 shares of the company's stock, valued at approximately $112,000.

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Aurora Cannabis Inc (TSE:ACB) shot up 13.1% during trading on Wednesday. "Stories like this are further validation of the massive global potential of the cannabis industry". The consumer market is an important parallel to the medical cannabis market.

Shares of Aurora Cannabis spiked higher Wednesday after the company announced billionaire investor Nelson Peltz joined the pot producer as an advisor. (TSXV: HEMP), Cann Group Ltd. (ASX: CAN), Micron Waste Technologies Inc.

"Aurora is well positioned to benefit in the early innings of the Canadian adult use market, given its impressive 20 percent market share", the Cowen analyst wrote earlier this month.

More notable recent Aurora Cannabis Inc. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release.

In New York, Boeing's losses deepened after the USA and Canada joined the list of countries grounding the company's 737 MAX 8 jets, following Sunday's Ethiopian Airlines crash that took the lives of all 157 passengers and crew on board.

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