Cannabis Growth Opportunity Corporation (CSE:CGOC), a cannabis investment company, is shaking up its portfolio again by reaching a deal to put C$2mln into Whistler Medical Marijuana, one of the first 10 licensed producers of Medical Marijuana and cannabis oil in Canada.
The funds will be used to finish Whistler Medical Marijuana’s 62,000 square foot production facility in Pemberton, British Columbia.
Once Whistler receives its dealer license as expected, the money will also allow Whistler to widen its existing export business, which has already sold cannabis products in Australia and the Cayman Islands.
From its base in Whistler, British Columbia, Whistler Medical Marijuana grows medical cannabis in soil without the use of chemicals.
Cannabis Growth Opportunity Corporation, which provides financial backing to both public and private cannabis companies, has been on the investment warpath of late.
Marking its first deal in the Caribbean, this month the company also revealed plans to invest in Herbs Holdings, a large medical cannabis grower and retailer in Jamaica.
Cannabis shares were down 1.16% in morning trade to US$1.70.