SOL Global increases ownership stake in HeavenlyRx
Industrial Hemp NewsMarijuana Laws, Regulations, & Politics July 29, 2019 MJ Shareholders 0
Cannabis investment company SOL Global Investments purchased additional common shares to raise its ownership in its CBD-focused wellness subsidiary HeavenlyRx to 44.53%.
As part of a larger private offering, the Toronto-based international investment company announced Monday it spent an additional $18.1 million (23.9 million Canadian dollars) on HeavenlyRx.
The announcement comes just weeks after Sol Global invested $11.5 million (15 million Canadian dollars) in HeavenlyRx and announced plans to increase investment in CBD companies.
HeavenlyRx has announced several investment deals within the past month, as well.
“SOL Global’s continued investment in HeavenlyRx has fast-tracked the onboarding of highly relevant consumer brands to the company’s portfolio,” said Andy DeFrancesco, chairman & chief investment officer of SOL Global, in a company statement.
Sol Global trades on the Canadian Securities Exchange under the ticker symbol SOL.
More details on the investment can be found here.
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