Cannabis investment company Sol Global Investments purchased additional common shares to raise its ownership in its CBD-focused wellness subsidiary HeavenlyRx to 44.53%.
As part of a larger private offering, the Toronto-based international investment company announced Monday it spent an additional 23.9 million Canadian dollars ($18.1 million) on HeavenlyRx.
HeavenlyRx has announced several investment deals within the past month as well.
“Sol Global’s continued investment in HeavenlyRx has fast-tracked the onboarding of highly relevant consumer brands to the company’s portfolio,” Andy DeFrancesco, the company’s chair and chief investment officer, said in a statement.
Sol Global trades on the Canadian Securities Exchange under the ticker symbol SOL.
More details on the investment can be found here.