Aurora Cannabis shares higher after Peltz comes aboard

FeaturesAssociated Press

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.

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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.