Breaking NewsLeading British Tobacco Firm Takes £125m Stake In Canadian...

Leading British Tobacco Firm Takes £125m Stake In Canadian Cannabis Firm

-

UK TOBACCO giant BAT has extended its reach into the cannabis space with a C$221 investment into Canadian firm Organigram.

A British American Tobacco (BAT) subsidiary has secured a 19.9% equity interest in the NASDAQ and Toronto Stock Exchanges-listed firm.

This follows BAT’s entry into the UK cannabis space with the launch of a new CBD vaping device – Vuse CBD Zone – as reported in BusinessCann earlier this year. 

BAT, which sells Dunhill, Lucky Strike and Benson & Hedges, disclosed its interest in moving ‘beyond nicotine’ last year.

‘Building A Better Tomorrow’

Organigram and BAT say they have entered into a Product Development Collaboration Agreement which will see the creation of a ‘Center of Excellence’ looking to develop ‘the next generation of cannabis products with an initial focus on CBD’. 

The Center of Excellence will be located at Organigram’s indoor facility in Moncton, New Brunswick. Organigram also has a suite of cannabis brands including; The Edison Cannabis Company, SHRED and Trailblazer.

Dr. David O’Reilly, Director, Scientific Research at BAT, said: “Today’s announcement underscores BAT’s commitment to accelerating our transformation and building A Better Tomorrow.”

Peter
Peter McCusker is an experienced news and business editor, who believes it’s time to fully embrace the multiple, proven, medical benefits of the cannabis plant.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

High-Profile Director Quits Oxford Cannabinoid Technologies Board Following Chairman’s Recent Departure

Oxford Cannabinoid Technologies (OCT) has seen its second senior departure in under a month as it begins to recover...

Columbia Care Platinum Joins Forces With Poppy Jamie

Leading organic, vegan and regeneratively-farmed, plant-based CBD brand, Columbia Care Platinum(www.shop.col-care.uk), announces it has teamed up with Poppy Jamie, mental wellbeing...

InterCure Announces European Expansion with International Cannabis Brand Cookies

InterCure Ltd. today announced its international expansion into Europe through a partnership with iconic cannabis brand Cookies. The parties entered...

Groups From 56 Countries Ask UN To Ensure Secretive ‘Cannabis Initiative’ Is Open To Public Scrutiny

ONE year on from the formal recognition of the potential for cannabis as a medicine almost 200 global advocacy...

The New Common Agricultural Policy Has Been Adopted And the Maximum THC Level on the Field Has Been Restored to 0.3%

It was in October 2020 when we announced that the European Parliament had voted in favour of restoring the...

European Medical Cannabis Tech Accelerator Opens Call for Submissions

The first and only hybrid tech accelerator in Europe dedicated to the medical cannabis industry offers €100,000 grant to early-stage startups from around the world.

Must read

High-Profile Director Quits Oxford Cannabinoid Technologies Board Following Chairman’s Recent Departure

Oxford Cannabinoid Technologies (OCT) has seen its second senior...

You might also likeRELATED
Recommended to you