British tobacco company Imperial enters the cannabis space with $123 million investment in Auxly Cannabis

British tobacco company Imperial Brands is getting into the cannabis business with a $123 million investment in Auxly Cannabis, the Canadian company run by former Tweed founder Chuck Rifici.

Imperial will also get one out of five board seats at the Vancouver-based licensed producer, which will give it some oversight of corporate governance at the company. Auxly, for its part, will obtain the rights to Imperial’s vaping technology and vapor innovation business Nerudia, which the company says already has a team dedicated to cannabis research.

While Auxly’s core business is cannabis cultivation — it owns Robinsons, a craft cannabis brand based out of Nova Scotia, and Dosecann, a producer of CBD oil out in Prince Edward Island — the company intends to focus primarily on developing vape pens and other product forms besides dried flower that will be part of Canada’s second wave of legalization come October 2019.

Imperial is the second major tobacco company to make an investment in the Canadian cannabis space — in March, Altria finalized a $1.8 billion investment in licensed producer Cronos Group, which gave it a 45 per cent stake in the company, with the ability to increase that stake to 55 per cent through exercising warrants.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Couche-Tard makes strategic cannabis move with investment in Fire & FlowerThe deal gives the convenience store operator rights to 9.9 per cent of Fire & Flower’s equity, with the potential to increase its stake to 50.1 per cent in return for a total of about $380-million in growth capital globeinvestor Smart. They've already got the munchies covered.
Sumber: globeandmail - 🏆 5. / 92 Baca lebih lajut »

Couche-Tard makes strategic cannabis move with investment in Fire & FlowerAlimentation Couche-Tard Inc. has agreed to make a strategic investment in Fire & Flower Holdings Corp. of Edmonton, which will use the funds to develop its Hifyre digital retail platform and expand its network of cannabis retail stores.
Sumber: CP24 - 🏆 30. / 67 Baca lebih lajut »

Couche-Tard makes strategic investment in cannabis retailer Fire & FlowerFire & Flower operates or licenses 23 cannabis retail stores in Alberta, Saskatchewan and Ontario
Sumber: nationalpost - 🏆 10. / 80 Baca lebih lajut »

South Park mocks cannabis company MedMen with satirical response to Spike Jonze videoThe video for fictional brand Tegridy Farms starts in a similar fashion and features George Washington growing hemp
Sumber: nationalpost - 🏆 10. / 80 Baca lebih lajut »