Cronos Device Labs Is Group News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The (Forgotten) Deal
Altria Group bought a 45 percent stake in leading cannabinoid company Cronos Group for about $1.8 billion.
Altria 
also has a warrant that would allow it to increase its stake in Cronos to about 55 percent at a price of $19 per share. It allows Cronos the flexibility to take investments from other companies such as, for example, a big food company.
“The proceeds from Altria’s investment will enable us to more quickly expand our global infrastructure and distribution footprint, while also increasing investments in R&D and brands that resonate with our consumer,” Cronos CEO Mike Gorenstein said.
Its established U.S. presence should, therefore, serve to benefit Cronos, when cannabis is legalized federally. I suspect majority ownership will come into effect within the next 6-8 months. ....

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