trending Market Intelligence /marketintelligence/en/news-insights/trending/cDkrBWm-i2urPDkkeSdURA2 content esgSubNav
In This List

SOL Global to buy 25% stake in cannabis company GreenLight Pharmaceuticals

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Insight Weekly: PE firms shift strategies; bank earnings kick off; bankruptcies plummet

Blog

Insight Weekly: Stocks limp into 2023; GCC banks set for rebound; deep-sea mining faces pushback

Blog

Infographic: The Big Picture 2023 Issuer & Investor Relations Outlook


SOL Global to buy 25% stake in cannabis company GreenLight Pharmaceuticals

Canada's SOL Global Investments Corp. will acquire a 25% stake in GreenLight Pharmaceuticals Ltd. for €1.8 million.

The investment is part of a strategic partnership between the parties.

Toronto-based SOL Global will have an option to increase its stake in Dublin-based GreenLight, a medical cannabis company, to 51%. GreenLight has a seed genetics program, cultivation operations, and cannabidiol brand and distribution operations.

Further, SOL Global will hold an option to acquire a 75% stake in a future GreenLight unit that obtains a cannabis cultivation license in Ireland or Northern Ireland for about €1 million.

SOL Global board member Rob Reid and Chief Medical Officer Michael Barnes will become directors of GreenLight Pharmaceuticals.

GreenLight CEO James Linden said the company is expecting the roll out of full medicinal cannabis markets in Ireland and the U.K. in 2019. He added that the expansion of the company's food supplements range and the research and development of its pharmaceutical products will give GreenLight a greater international profile.

SOL Global is an international investment company focused on cannabis and cannabis-related companies.