As the legalization of recreational pot draws nearer in Canada, tobacco giant Altria (MO) is reportedly in talks to take a piece of Leamington, Ontario-based Aphria (APHQF).
Reuters says that Altria may initially take a minority stake in the company with the option to become a majority owner later on. In response to the report, Aphria released the following statement: "Aphria Inc. today responded to a request from the Investment Industry Regulatory Organization of Canada regarding media reports suggesting the Company is engaged in discussions regarding a potential investment in Aphria. While Aphria engages in discussions with potential strategic partners and/or investors from time to time, the Company notes that there is no agreement, understanding or arrangement in place with a potential investor at this time."