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Fri Dec 7, 2018, 09:56 AM

Altria (Phillip Morris) buys $1.8Billion worth of weed


Altria to invest $1.8 billion in Canadian cannabis producer Cronos

(Reuters) - Marlboro cigarette maker Altria Group Inc made a big bet on the rapidly growing marijuana industry on Friday with a $1.8 billion investment in Canadian cannabis producer Cronos Group Inc.

The deal gives Altria an up to 55 percent stake in Cronos and is the latest in a string of investments from consumer companies hoping to benefit from Canada's move to legalize marijuana for recreational use.

Corona beer maker Constellation Brands announced a $4 billion investment in Canadian cannabis producer Canopy Growth in August, the biggest investment so far in the industry.

https://mobile.reuters.com/article/amp/idUSKBN1O61BS

16 replies, 641 views

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Response to underpants (Original post)

Fri Dec 7, 2018, 09:58 AM

1. Now we know recreational is about to happen in all 50

States!

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Response to JCMach1 (Reply #1)

Fri Dec 7, 2018, 11:53 AM

13. Yup, it is inevitable now

If the Republicans weren't so stubbornly rooted in the past, they'd legalize it themselves to end an issue that has been hurting them for years. We should be grateful for the hidebound drug warriors in the Pubs ranks

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Response to underpants (Original post)

Fri Dec 7, 2018, 10:00 AM

2. Marlboro Man is going to need a makeover

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Response to GreatCaesarsGhost (Reply #2)

Fri Dec 7, 2018, 11:24 AM

11. May i suggest Chuck.... err I mean Kunu

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Response to underpants (Original post)

Fri Dec 7, 2018, 10:03 AM

3. Eventually it will be legal all over the country.

There's no stopping it. Altria wants to get in on the action, since fewer people smoke cigarettes.

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Response to underpants (Original post)

Fri Dec 7, 2018, 11:13 AM

4. Whoever the CEO is h/she is forward thinking, which is what a CEO should be.

Legal mj is coming here too. But where in Canada is the climate ideal for mj cultivation?

Anyway, I never understood why oil company executives never went after the green energy market? That's what's coming over the horizon. They're the energy people so why not learn to or acquire green energy technology?

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Response to brush (Reply #4)

Fri Dec 7, 2018, 11:20 AM

8. I've never understood that either

The big beer manufacturers bought a lot of the microbrewers from the beginning. They aren't in the (brand name) business, they are in the beer business.

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Response to brush (Reply #4)

Fri Dec 7, 2018, 11:21 AM

9. Big oil is investing in green energy.

Their talking heads and lobbyists might rail against it but even they see the writing on the wall.

https://www.google.com/amp/s/www.fool.com/amp/investing/2018/06/04/big-oil-is-investing-billions-in-renewable-energy.aspx

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Response to Codeine (Reply #9)

Fri Dec 7, 2018, 11:45 AM

12. Thanks for the link. It's encouraging that Big Oil is investing in going green.

Solar, wind, geothermal—all good but the algae and cellulosic sugar industry investments seem questionable as their end products are burnable forms of petroleum, which is what we should be moving away from.

I didn't notice any wave energy investments in the chart either.

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Response to underpants (Original post)

Fri Dec 7, 2018, 11:15 AM

5. Greeeeeeaaaaaat.... How will they screw this up?

Nicotine and other addictive and harmful additives in their joints?

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Response to MrGrieves (Reply #5)

Fri Dec 7, 2018, 11:19 AM

7. +1. Big Tobacco wants to be Big Marijuana

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Response to dalton99a (Reply #7)

Fri Dec 7, 2018, 01:31 PM

15. Monsanto (Bayer) bought up all the seed stocks

Gee...I wonder what they might do once they control all the seeds? Just think...roundup weed.

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Response to MrGrieves (Reply #5)

Fri Dec 7, 2018, 11:21 AM

10. Oh, you bet your ass, and they'll be pushing for manufactured pharmacuticles as well,

And THEN they'll tell you, that since yours isn't manufactured in a controlled laboratory environment, you cannot gurantee it's quality, and so yours should be illegal to sell to consumers.

It will take 5 yesrs from full legalization, and that will be their blanket argument, you fucking watch.

THIS is why I wanted it legal for People, and NOT for Tobacco and Pharma.

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Response to Volaris (Reply #10)

Fri Dec 7, 2018, 12:01 PM

14. I have always been in favor of decriminalization

Capitalism has a way of perverting everything eventually.

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Response to underpants (Original post)

Fri Dec 7, 2018, 11:18 AM

6. Will they be using their recipe of toxic chemicals?

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Response to underpants (Original post)

Fri Dec 7, 2018, 01:34 PM

16. Best office Christmas party ever!

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