British American Tobacco is once again increasing its investment in Canadian cannabis producer Organigram Holdings, this time deepening their partnership through an injection of 124.6 million Canadian dollars ($92.5 million).
The latest move comes after British American Tobacco (BAT) invested CA$6.35 million in the Atlantic Canada-based cannabis company in 2022 and an initial CA$220 million in 2021.
ADVERTISEMENT
BAT now has a voting common share ownership position of 30% and overall equity interest of 45%.
“We are excited to bring this transformative transaction to Organigram’s shareholders, reinforcing our commitment to delivering shareholder value,” CEO Beena Goldenberg said in a Monday news release.
“This investment bolsters an already strong balance sheet and solidifies our position as a leading cannabis company.
“In addition, this deepens the strategic partnership between Organigram and BAT, and we look forward to continuing to leverage BAT’s global capabilities and scientific expertise.”
The cash injection
Read full article on Marijuana Business Daily
