Shares of Aurora Cannabis (NYSE:), (TSX:) took another hit yesterday, dropping an additional 5% on the day after it was announced that the Alberta-based marijuana grower cut ties with its once highly-touted special adviser, billionaire investor Nelson Peltz.
Peltz, the director of the fast-food company Wendy’s and the co-founder of the New York multi-billion-dollar asset management firm Trian Fund Management, joined the company in March 2019 to help Aurora expand its operations on the international stage. But during Peltz’s 18 months with the grower and distributor of medical cannabis, the company lost about US$2.6 billion (C$3.5 billion), according to estimates.
The company made the announcement in a release outlining how it will hold its annual general meeting on Nov. 12 in a virtual-only format due to the COVID-19 pandemic.
According to a report in Marijuana Business Daily, Aurora granted Peltz options to buy almost 20 million shares at a price of C$10.34 (USD $7.73)….