Tobacco group Imperial Brands invests 85 million euros in Auxly Cannabis Group
Auxly Cannabis Group a announced Wednesday the partnership agreement with Imperial Brand, formerly Imperial Tobacco Group. Imperial Brands is investing 85 million euros in Auxly in exchange for a 19.9% stake in Auxly.
Imperial Brands will provide Auxly with worldwide licenses for its vaping technology and access to its vaping innovation activities. Auxly will also become an exclusive partner for Imperial's commercial cannabis activities.
We are delighted to announce the closing of this transaction to officially mark the beginning of our strategic partnership with Imperial Brands», said Hugo Alves, CEO of Auxly, in the press release.
We believe that there are considerable opportunities for growth and value creation for both companies. We look forward to working with the incredible team at Imperial Brands to prepare for the upcoming launch of our portfolio of branded derivative products, formulated and manufactured in our subsidiary, Dosecann.»
Companies in the tobacco companies take a close look at the cannabis market and are on the lookout for opportunities. Altria (Marlboro) has invested 1.8 billion euros in Cronos, a Canadian cannabis producer, while Philip Morris is marketing a cannabis inhaler through its 20 million euro investment in Israeli company Syqe Medical.
Auxly is a Canadian cannabis producer.. The company also has a number of distribution agreements, for example with Dixie, a beverage producer. CBD-infused and/or THC, and a production subsidiary in Uruguay.
The Brazilian medical cannabis market continues to grow
Morocco: Three Cannabis-Based Medications Approved for the Treatment of Epilepsy
Canopy Growth Receives New EU-GMP Certification to Strengthen Its Presence in Europe
Three years after legalizing medical cannabis, Albania continues to establish regulations for it
The first plant-based medical THC spray arrives in the United Kingdom
Medical Cannabis in Germany: THC Prices Vary by a Factor of 12
France already has 3,000 cannabis retail outlets. None of them are legal.
Morocco's exports of legal cannabis have expanded to 15 countries
Aurora Cannabis Doubles Its Production Capacity in Germany
Tilray is accelerating its operations in Europe thanks to a license in Portugal
-
Business2 weeks agoThe legal cannabis market in New York exceeds 4 billion $ in revenue
-
Cannabis in France4 weeks agoWhich countries legalized medical cannabis before France?
-
Business4 weeks ago
South Korea is preparing to begin local production of medical cannabis to meet rising demand
-
Cannabis in France4 days ago
France already has 3,000 cannabis retail outlets. None of them are legal.
-
Cannabis in Thailand4 weeks ago
From the boom in dispensaries to a purely medical approach: Thailand is revising its cannabis policy
-
Cannabis in the U.S.5 days ago
A DEA report confirms that there are no fatal cannabis overdoses
-
Cannabis and driving3 weeks ago
Medical Cannabis and Driving: New South Wales Ends Automatic Penalties for THC
-
Cannabis in France3 weeks ago
France’s Drug Policy Chief Defends Cannabis Prohibition... and Runs Into the Facts
You must be logged in to post a comment Login