ALTRIA- (US company that owns MARLBORO) enters the Cannabis business.

Agriculture

One of the largest tobacco companies in the world has launched the cannabis market with an investment of $ 1.8 billion in Cronos Group , a Canadian medical and recreational marijuana company.

Altria , which makes Marlboro cigarettes, is acquiring a 45% stake in Cronos.

He added that the tobacco company will pay another 1.4 billion dollars for guarantees that, if exercised, would give Altria a 55% stake.

That would mean that Altria’s investment would be at the same level as the $ 4 billion spent earlier this year by Constellation Brands to acquire shares in Canopy Growth Corp , another Canadian marijuana producer.

The investment made in August by Constellation, which makes Corona and other beverages, was the largest to date by a major US corporation in the cannabis market.

Whatever the hesitation of large corporations in the United States with regard to entering the cannabis market, it seems to be disappearing if there is a financial justification. Altria’s huge investment has encouraged cannabis companies that have started to settle in Canada, where their recreational use was legalized this year.

 

No Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy
Years after Mossack/Fonseca and “Panama Papers”, our country still WASHING a great deal.

https://www.laestrella.com.pa/nacional/220524/panama-obtiene-alta-puntuacion-opacidad Panama is responsible for 1.4% of financial secrecy risks worldwide.┬áThis is established by the Index of Financial Secrecy (IFS, for its acronym in English), which is prepared by the Tax Justice Network, an international network for tax justice based in London, which reveals the extent to which countries can …

Canal
Putin’s senseless war affecting GLOBAL supply chain. In particular, PANAMA.

https://www.laestrella.com.pa/economia/220519/guerra-ucrania-frena-recuperacion-economica   The war in Ukraine is slowing down the fragile economic recovery that the world had begun after the covid-19 crisis, the UN said on Wednesday, lowering its global growth forecast for this year from 4% to 3.1% and warned that the deterioration may end up being even greater. …

Economy
Amazing!! I agree with Nito on Crypto stance.

There has not been much that I have agreed with under the leadership of Cortizo. Yet I find it refreshing he is taking a measured and intelligent approach in these uneasy economic times to gather more information on this “made up” money of Cryptocurrency. https://www.laestrella.com.pa/economia/220519/cortizo-negara-firmar-proyecto-ley-regula-criptomoneda During his participation in the …