Codebase Ventures Inc (CSE:CODE) (OTCMKTS:BKLLF), an investment company targeting early-stage blockchain and crypto companies, announced the formation of a subsidiary Wednesday focused on investment in the cannabis sector.
Code Cannabis Investments will identify early-stage assets and startups in the sector that could benefit from its capital and industry knowledge. The goal is to help those companies accelerate their growth and scale to meet greater market demands.
“There are some highly talented entrepreneurs who are developing innovative and compelling business models in and as a result of the fast-growing legal cannabis sector,” CEO George Tsafalas said.
“Our team has developed terrific relationships in the cannabis sector and the number of intriguing investment opportunities led us to form this subsidiary so that we have a laser focus on realizing the potential that exists to drive results for our shareholders.”
Codebase Venture's stock jumped 40% on Friday to C$0.04 on the CSE and 21% to US$0.22 on OTC Markets.
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