Dec 10 2018
Marlboro cigarette maker Altria on Friday became the latest major company to explore an entry into the legal cannabis market as more states approve the once-taboo substance for medical or recreational use.
Altria, the parent company of Philip Morris USA, which makes Marlboro cigarettes, is taking a 45 percent stake in the Toronto company. The deal also includes warrants to acquire additional ownership interest in Cronos at a price of C$19 per share over the next four years, which could raise Altria's stake to 55 per cent.
When Canada legalized recreational marijuana in October, it emerged as the world leader in the industry and US companies are scrambling to get in on the action.
"Altria brings scale, expertise and complimentary capabilities. that we believe will enable us to expand the scope and enhance the scale of our company", said Mike Gorenstein, chairman, president and chief executive officer of Cronos on a call with analysts Friday. The company could also be positioning itself for the possible legalization of marijuana across the U.S., Quartz added.
Cannabis investors can't miss the Benzinga Cannabis Capital Conference, the No. 1 networking event for institutional capital and the leading cannabis companies.
Iran threatens to increase its missile range - despite US pushback
The Trump White House officially withdrew from the pact, known as the Joint Comprehensive Plan of Action, in May. The speech drew polite applause from the audience in Brussels but also sharp criticism from some quarters.
Trump 'may cancel Putin talks' over Ukraine-Russia sea clash
All could be sentenced to six years in prison if convicted on border-violation charges. State-run news agency RIA said the system will be operational by the end of the year.
Global lawmakers grill Facebook exec in United Kingdom parliament
Six4Three has asked the Britons to " refrain from reviewing them and to return them to counsel or to Facebook", per the report. Facebook nevertheless responded to the actions, stating that the documents are subject to a protective order in the US.
Major pot stocks have generally pulled back from their highs in recent weeks amid reports of supply shortages and complications with the sales process under the new regime.
Tobacco giant Altria (MO) is jumping on the cannabis bandwagon. That is a 16.2% premium over the stock's Thursday close, according to Reuters. Constellation Brands Inc announced a $3.8-billion investment in Canopy Growth Corp in August, while Coca-Cola Co said in September it was watching the space for alliances that could potentially help it develop products containing cannabinoid oil.
An investment from Altria is expected to provide Cronos Group an opportunity for growth and expansion. It said the deal with Altria does not limit Cronos from any other partnerships.
With the Cronos investment, Altria will get a new opportunity to boost revenue as cigarette smoking continues to decline in the United States.
Dec 09 2018
Tottenham 3-1 Southampton: Premier League - Player Ratings
Pompey go in search of an eighth consecutive win in all competitions when they host Southend. But Southampton fans should be fearful of one aspect of Hasenhuttl's managerial career.
Dec 08 2018
Luis Valbuena, Jose Castillo Dead After Tragic Car Accident
He hit.226 with 114 home runs over 11 big league seasons with the Angels, Seattle, Cleveland, the Chicago Cubs and Houston. A pair of major league infielders were killed in a auto crash early Friday morning in Venezuela.
Dec 08 2018
Singer Mika Singh Detained in UAE On Charges Of Harassing Woman
According to reports, the singer has been accused of sending indecent photographs to a 17-year-old girl, who hails from Brazil. The diplomat said Singh was arrested in Dubai but taken to Abu Dhabi because the complainant holds a residence visa there.
Dec 07 2018
China confident of agreeing United States trade deal despite Trump's combative stance
That includes more purchases of US farm products, which Trump - seemingly trying to remind Xi - has said will begin "immediately". Trump continues to ratchet up pressure on China , saying there would be a "REAL DEAL with China, or no deal at all".
Dec 07 2018
O2 investigating network data problems
O2 has said a "full service" will be restored by Friday morning following a data outage , which affected millions of users. The company, the second-largest mobile network in the United Kingdom , said it was investigating the technical fault.
Dec 06 2018
Liverpool manager Klopp happy to accept FA fine
The Clarets did beat Alisson Becker moments before the interval - but Barnes' excellent whipped finish was dispatched from an offside position. "Love that", another wrote.
Dec 05 2018
Microsoft will replace Edge with Chrome-based browser for Windows 10
Download.com has contacted Microsoft for comment and will update the story with any further details. The new browser will supposedly be way more powerful and faster than the Edge.
Dec 03 2018
Trump's ex-lawyer Michael Cohen does not deserve prison, judge told
He also met with the NY attorney general's office, which is investigating the Donald Trump Foundation. In another, a woman wrote that her husband, who is Syrian, had been friends with Cohen since 1984.
Dec 03 2018
Police recommend Israeli PM Benjamin Netanyahu be indicted for bribery
They also recommended charges be brought against Elovitch, members of his family and members of his Bezeq management team. The prime minister compared his defense to Hanukkah, which celebrates "the victory of light over darkness", he said.
Dec 01 2018
Protesters take to streets of Buenos Aires during G20 gathering
When he was elected in 2015, Mr Macri promised market-friendly reforms to get Argentina's isolated economy back on track. Argentine President Mauricio Macri said the allegations against the prince may be discussed during the G20 summit .
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