Los Angeles-based MedMen is the latest U.S. cannabis company to go public in Canada as more firms hustle to raise the capital needed to stay ahead in the green rush.The multistate marijuana firm debuted Tuesday on the Canadian Securities Exchange under the ticker MMEN.
Cannabis Wheaton is on the hunt for new investment opportunities as the firm prepares to close on a $100 million in Canadian dollars stock-purchase deal. Under the bought-deal transaction, a syndicate of underwriters will purchase 71.5 million Cannabis Wheaton shares for CA$1.04 per share.
Seattle-based MainStem, a cannabis e-commerce tech firm, has closed its Series B funding round with a nearly $2.2 million raise led by Merida Capital Parters. MainStem will use the new capital to expand its main platforms.
Cannabis tech firm BDS Analytics is planning a national expansion of its sales tracking software and an increase in personnel thanks to a $3.5 million funding round.
Multistate cannabis firm iAnthus secured a $50 million investment from Gotham Green Partners, a marijuana-focused private equity firm based in New York.
Consolidation continued in the cannabis industry Tuesday, with four major marijuana businesses from the United States and Canada merging to launch a multinational company with combined revenue forecast to total more than $200 million next year.
Operating under the name Tilt Holdings, the new companies will include the combined operations of Baker Technologies, Sea Hunter, Briteside and Santa Veritas Therapeutics, according to a news release.
Aurora Cannabis has agreed to acquire rival Canadian cannabis producer MedReleaf in a deal valued at $3.2 billion Canadian dollars ($2.5 billion) that would create the largest marijuana company in the world.
