Korean Sovereign Fund Invests In Canadian Cannabis

Interesting update from MJ Biz…The numbers aren’t huge but still interesting to see.

South Korea’s sovereign wealth fund bought up three Canadian cannabis stocks as they dipped to 52-week lows in the first quarter of 2020.

Though the value of the cannabis holdings is a modest $8 million, it is the latest sign the stigma associated with the legal industry is slowly eroding in international finance circles.

Seoul-based Korea Investment Corp. (KIC) added federally licensed Ontario producer Cronos Group to its portfolio, according to a disclosure filed with the U.S. Securities and Exchange Commission.


The KIC also increased its positions in Alberta-based Aurora Cannabis and Ontario-headquartered Canopy Growth.
The sovereign wealth fund took on 45,800 Cronos shares, worth roughly $257,000.

Full report

Korean sovereign fund buys into cannabis as Canadian fund slashes Canopy stake

 

 

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