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Despite assurances from Canadian marijuana producer Aurora Cannabis that it does not have any formal agreement to partner with a beverage company, its stock rallied Tuesday after it said it talks with drink companies on occasion.
As of the latest reading, shares of Aurora were up 7 percent in Canadian trading.
“The Company does confirm that it engages in exploratory discussions with industry participants from time to time,” Aurora said in a press release. “At this time the Company confirms there is no agreement, understanding or arrangement with respect to any partnership with a beverage company.”
Tuesday’s move comes after the stock rallied 17 percent in Canadian trading Monday after Canadian news service BNN Bloomberg reported Coca-Cola is in talks with Aurora to develop weed-infused beverages.
Coke issued the following statement Monday following the report:
“We have no interest in marijuana or cannabis. Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world. The space is evolving quickly. No decisions have been made at this time.”