Chippewas of the Thames Development Corp. (CTDC) invested $2 million in Sensi Brands Inc.
The news, disclosed Monday, follows an 18-month review process.
CTDC opted to team up with Sensi Brands as a way to enter the regulated cannabis industry. Currently, CTDC owns a 21% equity interest in the Aurora, Ontario-based cannabis cultivation company and has acquired a board seat.
Proceeds from the investment would be utilized to boost the development of Sensi's processing and cultivation capacities and help launching the company's retail arm.
Sensi Brands CEO Tony Giorgi is "thrilled" with the new partnership and the "opportunities this will bring." The goal is to introduce an employment and training program for the cultivation site and retail store on behalf of CTDC.
"As the cannabis industry continues to evolve, we see our relationship with Sensi Brands as a solid foundation for further potential growth and community prosperity," CTDC General Manager Rick Peters said.
In July, Sensi Brands welcomed cannabis veteran Tony Kwon to serve as senior consultant to supervise portfolio development.
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