Imperial Brands Invests $123 Million in Cannabis Company Auxly

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“Following its extensive evaluation of the Canadian cannabis market, we’re thrilled that Imperial Brands selected Auxly as its partner of choice due to the high calibre of our assets, people and capabilities,” added Chuck Rifici, chairman and CEO of Auxly. “We are particularly excited to partner with Imperial Brands on current and future intellectual property and product development, starting with immediate access to its portfolio of vaping technologies and research and development capabilities.”

When the deal is finalized, Auxly will immediately receive an injection of approximately $123 million that will be used to help the company achieve its strategic objectives and capitalize on emerging growth opportunities; obtain the rights to Imperial Brands’ industry-leading vaping technology and intellectual property for cannabis use globally; and access to Imperial Brands’ Nerudia, the company’s vapor innovation business, which has a team dedicated to cannabis research. Through the deal, Auxly will become Imperial Brands’ exclusive partner for the future development, manufacturing, commercialization, sale and distribution of cannabis products of any kind anywhere in the world.

You can read full details of Auxly and Imperial Brands’ deal by clicking here. For all the latest news from Auxly, visit auxly.com.