Altria Invests in Canadian Marijuana Company

Altria looks ahead to cannabis market.

Altria is moving into the cannabis market, investing $2.4 billion in Toronto-based Cronos Group, a Canadian medical and recreational marijuana company.

According to CBS News, Altria is taking a 45% stake in the company.

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Cronos told CBS News Altria plans to pay another $1.4 billion for warrants that would give Altria a 55% majority ownership stake in the company.