Big Tobacco giant Philip Morris announced that it would not be investing in cannabis at this time, citing several factors that led to this decision, including a lack of consistent regulation across international markets, which would post a logistical issue for the company. In an odd statement, Philip Morris CEO Andre Calantzopoulos also said he wasn’t “comfortable” with […]
Tobacco giant Altria has invested $1.8 billion in Canadian cannabis company Cronos. Under the terms of the deal Altria, the parent company of the Marlboro cigarette brand, will acquire a 45 percent ownership stake in Cronos. Cronos Group shares soared by 30 percent and Altria rose 2 percent in early trading after news of the deal was […]