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The Toronto-based company, which has its main operations in Colombia, is trading under the ticker symbol KHRNF.

"This acquisition represents a significant milestone for the cannabis industry, being the first in which a major multinational agricultural corporation has taken a position in a joint venture of this nature,” said Avicanna.

The new plants are a THC-dominant variety, which trigger a psychoactive response, whereas the earlier crop were cannabidiol, or CBD, dominant.

The Canadian oil company plans to buy back $250 million USD in previously issued notes, with the remainder going to “general corporate purposes."

Canadian oil company Frontera Energy Corporation will split its stock this year, issues a two-for-one share split on June 26.

Following an initial eight-month term, the credit facility is expected to be extended to two years “upon satisfaction of certain extension conditions."

"Our current reserves and resources are just a tip of the iceberg of what's to come," says Ari Sussman, CEO of Continental Gold

Frontera Energy this week suspended operations at a site in Casanare in response to violence, intimidation, and threats.

The Canadian oil company's operations in the country are now held by the Colombian branch of Meta Petroleum Corporation, a wholly owned subsidiary.

"The rating upgrade reflects Frontera's ability to stabilize its operational and financial performance," stated Fitch Ratings.