Aurora Cannabis Appoints Activist Investor Nelson Peltz As Strategic Advisor

(RTTNews) - Shares of Aurora Cannabis (ACB) are currently up 11% after the company announced the appointment of longtime activist investor Nelson Peltz as strategic advisor.

"Peltz and Aurora will work collaboratively and strategically to explore potential partnerships that would be the optimal strategic fit for successful entry into each of Aurora's contemplated market segments. Peltz will also advise on the Company's global expansion strategy," the company said in a statement.

The company also said it has granted Peltz options to purchase 19.96 million common Aurora shares at a price of C$10.34.

"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 across a range of industry verticals," Peltz said in the release.

"I also believe that Canadian licensed producers, and Aurora in particular, are well positioned to lead in the development of the international cannabis industry as regulations evolve, with a strong, globally replicable operating model."

"Nelson is a globally recognized business visionary with a strong track record of constructive engagement to generate accelerated, profitable growth and shareholder value across many industry verticals that are of great interest to us," said Terry Booth, CEO.

ACB is currently trading at $8.86, up $0.90 or 11.31%, on the NYSE.