Constellation Brands, (NYSE:STZ) owned by the same company as Corona beer, Svedka vodka and Robert Mondavi wine has announced that it plans to spend C$5.1 billion (£3.1 billion) to raise its stake in Canopy Growth Corporation, a Canadian supplier of medicinal cannabis products taking its stake from 9.9 per cent to 38 per cent.
Geremy Thomas, founder and CEO of Sativa Investments, the UK’s first medicinal cannabis investment vehicle, told DirectorsTalk: “Constellation Brands’ further £3.1 billion investment in Canada’s Canopy Growth is an encouraging sign for the medicinal cannabis industry, as well-established, successful companies are waking up to the fact that this rapidly growing industry is not to be missed out on.
Sativa continues to invest in well-placed medicinal cannabis companies itself and remains the first UK investment vehicle to offer investors access.”
Sativa Investments Plc (NEX:SATI) seeks to invest in companies which are well-placed to take advantage of the dynamic regulatory environment surrounding medical Cannabis. Its investment strategy focuses on production, pharmacology, testing and compliance, R&D commercialisation, and sales and marketing. The Directors continue to engage with possible target investments in their key areas of interest.