Cronos Group Inc. is one of two Canadian cannabis producers to have inked a multibillion-dollar deal with a big American company.
The $1.8 billion investment Marlboro maker Altria Group Inc. MO, +1.03% made in Cronos CRON, -0.76% CRON, -1.13% in December legitimized overnight a company that produces far less cannabis than rivals such as Canopy Growth Corp. CGC, +3.29% WEED, +2.61%
Chief Executive Mike Gorenstein, who has practiced law in the U.S. and was once a partner at Alphabet Partners LP, a New York-based investment operation, now has a massive war chest to fund Cronos’s ambitions in cannabis.
Previously: Canopy Growth’s quiet co-CEO on the pot company’s ambitions in the U.S. and more
MarketWatch sat with Gorenstein in the company’s downtown Toronto offices this week to discuss his outlook on the cannabis market, how he’s handling the