UK Tobacco Giant BAT Makes Third Cannabis Investment As It Moves Beyond Nicotine

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UK tobacco giant BAT has followed up its £127m investment into Organigram with further investment in a Canadian cannabis company. Research-based Trait Biosciences says it has completed a C$31m (£18m) Series A financing round led by the corporate venture unit of British American Tobacco (BAT) – Btomorrow Ventures. Vancouver-based Trait says the money raised will be used to support its research and development activities in relation to the commercialization of its proprietary 2XGLY water-soluble, cannabinoid technology.