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Aurora Cannabis shares rise on reported talks with Coca-Cola

Last Updated Sep 17, 2018 at 10:27 am EDT

Cannabis seedlings at the Aurora Cannabis facilty in Montreal on Nov. 24, 2017. THE CANADIAN PRESS/Ryan Remiorz

Shares of Aurora Cannabis Inc. were up as much as 17 per cent Monday 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.