Cannabis Watch: CEO of pot producer Cronos talks about Altria deal, weed drinks and the rise of CBD

TORONTO — 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, +2.68% made in Cronos CRON, +3.87%CRON, +3.13% in December legitimized overnight a company that produces far less cannabis than rivals such as Canopy Growth Corp. CGC, +3.55%WEED, +3.20% .

Chief Executive Mike Gorenstein, who has practiced law in the U.S. and was once a partner at Alphabet-owned Google’s GOOGL, +0.80%GOOG, +0.69% venture-capital arm, now has a massive war chest to fund Cronos’s ambitions in cannabis.

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