US Largest Investment Into Cannabis Industry
Marlboro tobacco maker Altria Group has just acquired a whopping forty five percent of the stock Canadian Cannabis Company Cronos.
Stock in tobacco has been falling after years of litigious cat and mouse with the government. At one point Altria group was even to a counter advertising against its own subsidiary of Marlboro.
The CEO of Cronos stated that this huge investment won’t really go towards grow operations but towards "genetics, technical assistance, taking back the product and ultimately processing it, formulating it, branding it and distributing it.”