December 11th, 2018

NewsAlert: Altria investing $2.4B in Cronos cannabis producer

By The Canadian Press on December 7, 2018.

Canadian cannabis producer Cronos Group says it will receive a $2.4 billion equity investment from Altria Group, one of the biggest tobacco companies in the world.

The maker of Marlboro cigarettes would acquire a 45 per cent ownership stake in Cronos under the initial investment.

Altria can also invest up to a further $1.4 billion to increase its ownership stake in Cronos to 55 per cent, under the arrangement.

More coming

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