 In light of the expected imminent cannabis legalization in Germany, more big names are making moves to invest now, with hopes of big returns.
The British American Tobacco PLC company has invested in German cannabis startup Sanity Group GmbH. Along with the tobacco giant, several celebrities have also invested in the Sanity Group. Rapper and cannabis icon, Snoop Dogg’s Casa Verde Capital company, Will I.Am, and Alyssa Milano have also all invested in the Sanity Group. The Sanity Group’s founder and Chief Executive Officer Finn Age Hänsel said that new funding money will be used for strengthening their existing medical business, and preparing for the potential recreational legalization in Germany. These latest investments from big tobacco highlight the shift in developing countries of fewer people smoking tobacco to more people using cannabis. These investments also emphasize the financial potential for cannabis in Germany, which is Europe’s largest economy with more than 83 million people. With German Heath Minister Karl Lauterbach’s support for legalization, Justice Minister Marco Buschmann is optimistic that a law officially legalizing cannabis could be passed by spring 2023. Sanity Group’s Chief Investment Officer Max Narr said, “This funding is an important milestone for us and a strong signal towards the future of cannabis in Germany and and Europe.” Comments are closed.
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