U.S. Tobacco Company Buys Majority Stake In Canadian Cannabis Grower

Alliance One International Inc. announced an equity position in Canada's Island Garden.

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February 12, 2018
cbc.ca
Business and finance Canada

An American tobacco leaf merchant has acquired majority stakes in a P.E.I. licensed medical marijuana producer as well as a cannabis company that is developing indoor growing operations in Ontario.

Alliance One International Inc., based in North Carolina, announced its subsidiary Canadian Cultivated Products acquired a 75-percent equity position in Charlottetown-based Canada's Island Garden last month.

The publicly held tobacco supplier said its subsidiary last month also acquired an 80 per cent stake in Goldleaf Pharm Inc., a medical marijuana license applicant which is building a roughly 1,850 square metre growing facility in Ontario.

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