It should come as no surprise to realize that big tobacco has their eye on the prize. That prize, of course, is the cannabis industry.
Rumor has it that tobacco companies like Philip Morris have been waiting to get the go to grow and produce marijuana cigarettes since the 1970s.
Some rumors have circulated stating that these companies already have the equipment and operations in order and in place. All they are waiting for is the federal government to say yes.
If you think that tobacco isn't going to make their jump into the cannabis sector think again.
One of the largest tobacco companies in the world, Britain's Imperial Brands, made a recent investment in Oxford Cannabinoid Technologies.
Britain's Imperial Brands isn't the first tobacco company to make an investment in what potentially could be the Cannabis sector either.
Philip Morris International made an investment of 20 million dollars back in 2016 with Syqe Medical. Syqe Medical currently has a cannabis inhaler in development.
Alliance One a Canadian subsidiary made a 75% stake purchase in Island Garden Inc and an 80% stake purchase in Goldleaf Pharm Inc of Canada this year.
Canada is set to start recreational cannabis sales in October. American companies, as well as other companies around the world, are looking to invest in the Canadian cannabis sector. While this potential investment offers a wild allure, it also comes with inherent risks.
Canadian cannabis investors are currently facing lifetime travel bans in the United States. Hopefully, this will change as draconian lawmakers in the United States are voted out of office.
Could the Canadian recreational cannabis market be the entry point that big tobacco has been waiting for? Unfortunately, only time will tell.
While we aren't sure when big tobacco's move into the billion-dollar cannabis industry will occur exactly, we do know that it is inevitable.
It would be doubtful that manufacturers of smokable products would be willing to miss out on an industry whose backbone may always be smokable products.Posted: Friday, October 12th, 12:00pm 2 months ago
Ashley is a freelance cannabis writer and the co-owner of CannaLance. Her passion for sharing education and truth surrounding cannabis stems from a personal loss. Ashley has always had an elevated relationship with cannabis but it wasn't until 2015 that she turned that passion and relationship into a career as a cannabis writer.