Aussie pot stock takes stake in retailer

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ASX-listed potting stock MMJ Phytotech has acquired a small 1.6 pct. Share in Canadian cannabis dealer Fire & Flower Inc for $ CAD1 million. ($ A1.02 million).

Edmonton-based Fire & Flower plans to open 37 stores in the Alberta province after the Canadian government introduced legislation in April 2017 with the aim of legalizing and regulating the use of recreational marijuana in the northern hemisphere summer of 2018. [19659003] "Four & Flower is a retail investment with an experienced management team and great potential that further diversifies our portfolio ahead of the expected federal cannabis legalization later this year in Canada." MMJ Managing Director Jason Conroy said Monday.

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