Investing in Cannabis
A large bud of fresh cannabis harvest in the hands of a male grover concepts of cultivating medical of marijuana
Imperial Brands will invest approximately CAD123 million ($94 million) in Auxly Cannabis Group, an international cannabis company, reports New Cannabis Ventures.
As part of the deal, Imperial will grant Auxly global licenses to its vaping technology as well as access to its vapor innovation business, Nerudia.
“This investment from Imperial Brands will enhance Auxly’s ability to continue to deliver on our business plans and accelerate our growth initiatives to expand our portfolio of branded derivative products,” said Hugo Alves, president of Auxly.
“The timing is ideal as we prepare to bring our portfolio of innovative cannabis products to the Canadian market following the legalization of edibles, extracts and topicals later this year.”