By Paul Ebeling on February 11, 2018No Comment While not a household name, a big US tobacco firm, Alliance One International Inc. (NYSE:AOI) has 1-upped its better known and much larger tobacco sellers by acquiring stakes in 2 Canadian firms involved in that country’s medical marijuana market. The acquisitions of the marijuana-related businesses are the 1st by a US tobacco company. Alliance One announced last Thursday that through its Canadian subsidiary it had acquired a 75% stake in Island Garden, one of 35 Canadian firms fully licensed to produce and sell medicinal cannabis products, and an 80% stake in Goldleaf Pharma, a late-stage applicant for a license to produce and sell medical cannabis products in Ontario. Terms and purchase prices were not disclosed. Last December, Alliance One acquired a 40% stake in a North Carolina company, Criticality, which grows industrial hemp under the state’s program to extract cannabidiol for medical use. Big Tobacco Enters the Legal Cannabis Business in Canada

thumbnail courtesy of livetradingnews.com