Sol Global rapidly amassing a quality portfolio of cannabis businesses
In 2019 cannabis legalization bills are advancing in several states of the USA, and other countries are likely to follow Canada’s lead to legalize cannabis recreational use in the near term. Worldwide legal cannabis spending was $12.2 billion in 2018, and is projected to grow by 38% to $16.9 billion in 2019, and $31.3 billion in 2022. That is a 2.5 fold increase in just 4 years.
SOL Global Investments Corp. (CSE: SOL | OTCQB: SOLCF) is an international cannabis investment company with a focus on legal U.S. states. The company has partnered with the University of Miami in a R&D program which complements its strategic investments and partnerships across cannabis cultivation, distribution, and retail.
SOL Global invests into European Cannabis Holdings (ECH)
On February 27, SOL Global Investments Corp. announced it has closed its latest investment in European Cannabis Holdings (ECH). ECH own a group of companies helping to shape the future of cannabis in Europe. Included is industry leading assets such as a cannabis education platform, and medical cannabis clinics. The purchase brings SOL Global’s total position in ECH to ~19.4% of the total issued and outstanding ordinary shares of ECH.
Brady Cobb, CEO said: “The investment by SOL into ECH is a great opportunity for two of the leaders in the global cannabis industry to form a strategic link. SOL remains a key global player in the new and exciting cannabis field and ECH is the clear leader in the important European market. The future is bright for both companies.”
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SOL Global’s new Hemp subsidiary Heavenly Rx Ltd.
SOL Global also announced only this week on February 25 the formation of a new international hemp-focused subsidiary, Heavenly Rx Ltd. The new subsidiary intends to hold controlling ownership interests in various industry-leading assets in the hemp/CBD and THC-free cannabinoid wellness space, with an initial focus on hemp cultivation, processing and the manufacturing of a diverse range of traditional CBD products including oils, tinctures, balms, and vape-ready products. Additionally, Heavenly Rx intends to include several proprietary brands across numerous consumer product group verticals such as cosmetics and beauty products, bath and body products, infused foods (subject to governmental approvals and compliance) and a number of pet-related products.
Brady Cobb, CEO of SOL Global said: “Heavenly Rx directly supports SOL Global’s continued hemp and CBD strategy in the U.S. and international markets and will serve as a critical launch pad for our hemp related investment initiatives as hemp and related cannabinoid regulations continue to become more liberalized around the world.”
Other recent acquisitions by SOL Global
- January 2019 – SOL Global acquired 25% of GreenLight Pharmaceuticals Ltd. GreenLight, which was founded in 2014 and is headquartered in Dublin, Ireland, is a vertically-integrated medical cannabis company with a clinical research and development operation, a seed genetics program, cultivation operations, and Cannabidiol (CBD) brand and distribution operations. There is also an option to increase SOL Global’s stake to 51%.
- December 2018 – A strategic partnership with OG DNA Genetics Inc. – One of the most widely recognized and acclaimed global brands in cannabis breeding and genetics.
Clearly SOL Global is very rapidly amassing a quality portfolio of diversified global cannabis businesses. Investors are looking more closely at growing cannabis businesses in 2019, especially given the positive legislative changes that appear to be on their way in the US and globally. This means SOL Global is definitely on the investment radar.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment (similar to CFA), and a Graduate Diploma in ... <Read more about Matthew Bohlsen>