Fri 12/14/2018 02:30 ET
DJIA24597.3871.330.29%TELCO164.420.840.51%GOLD1243.953.480.28%Shanghai2619.0714.930.57%
S&P 5002650.540.530.02%BANKS399.294.911.23%OIL52.200.380.73%BITCOIN3313.698.620.26%
NASDAQ7070.3327.570.39%PHARM592.373.490.59%US/EU1.130.000.00%Futures2625.6219.950.76%
Welcome Stranger!  Please sign up or log in to enable additional features.Sign Up | Mail | Log In
Forum - Pinks and BB    Pinks And BB Top Stock Picks

Msg Top | Msg List | < Prev | Next > | Post New | Reply | Privately | Search
  
From: jonnyb (Rep: 88)Date: 10/11/2018 14:51
Forum: Pinks and BB - Msg #130899Thread #674040942 (Rec: 0)
Marlboro maker reportedly wants stake in Canadian pot grower
Share Tweet Reddit Flipboard Email
It looks like the Marlboro Man may soon be into weed: Tobacco company Altria Group is reportedly considering buying a stake in Canadian cannabis producer Aphria.

Canada's Globe and Mail cited multiple unidentified sources in reporting Altria, maker of Marlboro cigarettes, had expressed an interest in acquiring a minority piece of the the pot producer. Details of the investment are still being worked out, but the idea would be to eventually hold a majority footing in the Canadian firm, according to the newspaper.

The talks aren't yet final and could fall through, the report stressed. Altria had no comment on "rumors and speculation," a spokesperson said in an email, while Ontario-based Aphria didn't immediately return a request for comment.

Altria would be just the latest in a slew of American consumer companies looking to ink deals with Canadian cannabis firms as sales of recreational marijuana are set to be legal in Canada, starting in a week.

Coca-Cola last month said it might target consumers seeking to ease inflammation and related pain by using a legal chemical found in pot called CBD that's unrelated to the psycoactive ingredient tetrahydrocannabinol, or THC.

The American beverage company's signaling its interest came about a month after Coors said its Canadian division would partner with Canadian cannabis producer Hydropothecary to develop a nonalcoholic drink containing marijuana.

Separately, Constellation Brands, the maker of Corona Beer, said it would spend $3.8 billion to hike an investment in Canadian marijuana producer Canopy Growth.

https://www.cbsnews.com/news/marlboro-maker-reportedly-wants-stake-in-canadian-pot-grower-legalized-marijuana/

What would you like to do? Message: Endorse | Bookmark | Report AbuseUser jonnyb: Reward | Watch | Ignore

Msg Top | Msg List | < Prev | Next > | Post New | Reply | Privately | Search
  

TheLion.com | About Us | Agreement & Disclaimer | Privacy | Twitter
© 1999- TheLion.com, Inc.