Aurora Cannabis shares higher after Peltz comes aboard

March 13, 2019
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FILE- In this Oct. 10, 2017, file photo Trian Partners hedge fund manager Nelson Peltz is interviewed by CNBC's Sara Eisen after Procter & Gamble's annual shareholders meeting in Cincinnati. Shares in Aurora Cannabis jumped on Wednesday, March 13, 2019, after the Canadian company announced that it has appointed Peltz as a senior adviser. (Kareem Elgazzar/The Cincinnati Enquirer via AP, File)

NEW YORK (AP) — Shares in Aurora Cannabis are jumping after the company announced the appointment of activist investor Nelson Peltz as a senior adviser.

The Canadian pot company said Wednesday that Peltz will help it find partnerships and advise its global expansion strategy.

Canada has become a launching pad for the recreational pot industry since it legalized cannabis last year. U.S. tobacco companies have already invested there and big beverage companies are watching closely as the industry develops.

Peltz is the CEO and founder of New York’s Trian Fund Management and serves on the board of The Wendy’s Co., Procter & Gamble and Sysco Corp., among others.

Aurora is based in Edmonton, Alberta and has operations in 24 countries across five continents.

Shares in Aurora rose more than 11 percent in early trading.