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As New York’s recreational cannabis industry shapes up, companies are making deals to take full advantage of the emerging market. On Monday, Cronos Group, a Canadian cannabis company backed by Altria, said it agreed to make a “strategic investment” in US cannabis company PharmaCann, which has operations in New York. Cronos paid $110.4 million for an option to acquire a 10.5% ownership stake in PharmaCann, once cannabis is federally legal in the US.
...read full article on Business Insider
