Columbus – The Scottish Miracle-Gro company is lending $ 150 million to a Canadian company investing in the US cannabis industry.
The $ 150 million, six-year convertible, doubles its investment in Toronto Review Capital. The Morrisville Grass and Vegetable supplier created the Hawthorne Connective sub-company to invest.
He said the association could make other investments in the industry, but said RV would be the “preferred vehicle”. The US Federal Government has withdrawn its funding from Scots to ensure that none of the plants that are considered illegal by the US federal government go to plants.
“The joint venture is designed to enable us to participate directly in the big market over time,” said Scott Hugador, the Scottish CEO.
The transaction is scheduled to close at the end of the month. After the six-year term expires and the note is converted to shares, Scotland holds 42% of the RIV.
He said RIV has a current capital of $ 319 million.
The company previously operated a cannabis company, Canopy Growth Corp. It was a small company, but in February it became neutral.
Over the past six years, Scotts has built the Hawthorne sub-company, which supplies the cannabis industry and other vegetables. Just last week, he made another increase.
The company said that joint ventures would be out of Hawthorne’s view.
With nine months to go, Scottish is growing its consumer and vegetable business by 19% with $ 4.1 billion in sales and Houston 60% with another closing year.
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