Marlboro Cigarette Creator Invests $1.8 Billion in Cannabis Industry

One of the largest tobacco companies is getting involved in the cannabis market by investing $1.8 billion

One of the largest tobacco companies is getting involved in the cannabis market by investing $1.8 billion

Marlboro creator, Altria Group Inc. is taking a 45 percent stake in Cronos Group, a Canadian medical and recreational cannabis provider.

The agreement allows a warrant to acquire additional shares over the next four years. Thus giving Altria, a 55 percent ownership stake in the Toronto company.

This puts Altria's investment in the same realm as the $4 billion spent earlier this year by Constellation Brands to acquire shares of Canopy Growth Corp., another Canadian pot producer.

These aren't the only large moves being made by dominate tobacco and alcohol companies, and they definitely won't be the Last.

Do you think this is good or bad for the cannabis industry?

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