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
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.

Latest news

European Cannabis Stocks Review: SEED Innovations Shares Spike 25%, Futura Medical Signs Commercialisation Deal, & More From Akanda

AS quarterly and full-year results continued to be published across the global cannabis industry, European stocks enjoyed a relatively...

Creso Pharma Secures Heads of Agreement With Tattoo Aftercare Company Dr Pickles

Creso Pharma Limited (ASX:CPH, OTC:COPHF, FRA:1X8) (‘Creso Pharma’ or ‘the Company’) is pleased to advise it has signed anon-binding,...

LYPHE Group Poised For European Expansion As It ‘Steps Into Venture Capital’ With £5m Fundraise Led By Leafy Tunnel

LYPHE Group has announced the successful closure of its latest funding round, securing £5m in capital to fund expansion...

ACMD Reveals It Hasn’t Examined Cannabis Evidence For 14 Years As Signs Of UK’s ‘Appetite For Reform’ Grows

LAST week saw the British Government reinstate its hardline position on drug policy, as Policing Minister Kit Malthouse announced...

European Cannabis Industry ‘Potentially An Even Bigger Opportunity’ Than The US, And Investors Should ‘Wake Up To The Opportunities In Their Own Backyard’

NORTH American investment in the European cannabis industry has grown at pace over the last few years, with hundreds...

Major Cannabis Supplier Faces No Prison Sentence After Direct Support From Cancard, And After Hundreds Of Cancer Patients Come Forward To Say That He...

As reported by Cancard Cancard reports that one of their card holders and well known cannabis experts, Andrew Baines, will...

Must read

You might also likeRELATED
Recommended to you