Los Angeles-based MedMen Enterprises says it expects to raise up to 75 million Canadian dollars ($57 million) in a bought-deal equity financing plan, with the proceeds to be used to expand its U.S. retail footprint. Here’s a rundown of the deal: Toronto-based Eight Capital and Cormark Securities – as co-lead underwriters and joint bookrunners – […]Read More
Lisa is an award-winning business reporter specializing in finance and public companies in the cannabis industry for Marijuana Business Daily. Previously, she worked as an investigative reporter at WCPO-9, an affiliate of the ABC network. She has extensive business reporting experience, covering public companies, real estate and health care for newspapers including The Cincinnati Enquirer and Dayton Daily News. Her work has garnered several awards from the Associated Press, Cleveland Press Club and Society of Professional Journalists. She is based in Cincinnati, Ohio.
Canadian cannabis producer Cronos Group has tapped Boston-based Ginkgo Bioworks in a $122 million endeavor to biologically engineer a wide range of cannabinoids found in cannabis.Read More
Oregon-based Diem Cannabis is poised to enter a new market after landing upwards of $12.5 million in financing from Toronto-based Tidal Royalty Corp. The capital will be used over the next three years to develop and operate a large-scale cultivation and processing facility and up to four dispensaries, all in Massachusetts, the firms announced in […]Read More
Investors are flocking to a U.S.-listed exchange-traded fund (ETF) that tracks nearly 40 Canadian and American cannabis firms. The $436 million ETFMG Alternative Harvest ETF – which trades on the NYSE Arca under the ticker symbol MJ – has taken in around $22 million in August, putting it in a position to post its largest monthly inflow […]Read More
Share prices at cannabis firms Green Thumb Industries and Tilray are on the rise after solid second-quarter performances – and mainstream investors are taking note, with at least one hedge fund billionaire throwing his support behind the industry. The two businesses reported their first earnings as newly public companies after the markets closed Tuesday. Here’s […]Read More
As the cannabis space rapidly evolves into a multibillion-dollar global industry, women are increasingly being left behind, says the founder of a new female-focused business accelerator.Read More
Canadian cannabis producer Invictus plans to spin off wholly owned subsidiary Poda Technologies as it looks to tap into U.S. and global business opportunities. The Vancouver-based firm, which trades on the TSX Venture Exchange under the ticker symbol GENE, plans to turn Poda into a stand-alone entity valued at roughly $1.9 million, according to a […]Read More
The future of Denver-based MassRoots’s remains in peril, due to continued multimillion-dollar losses, massively shrinking sales and insufficient cash.Read More
Constellation Brands’ multibillion-dollar wager on Canopy Growth is huge – record setting even – but a much larger story is lighting up across the cannabis industry: Wall Street has arrived. Financial heavyweights Goldman Sachs and Bank of America Merrill Lynch are officially dabbling in the marijuana industry now, which is a move observers call a […]Read More
In a Savannah, Georgia, warehouse, Smoke Cartel employees file through rows of vaporizers, dab rings and torches, hustling to fill online orders from head shops, dispensaries and consumers across the United States. It’s an operation that less than five years ago began as wishful thinking – launched from the living room of Smoke Cartel co-founders […]Read More
A growing number of cannabis businesses are turning to public markets in the United States and Canada as they hustle to raise the capital needed to compete in the green rush.
“These companies are really starting to see the public markets as a viable option for them to raise capital, and clearly over the past two and three years, we’ve seen the pace and number of firms going public really accelerate,” said Jason Paltrowitz, executive vice president of corporate services at OTC Markets Group, which manages trading platforms for more than 10,000 over-the-counter securities.Read More
Minneapolis-based Vireo Health raised $16 million ahead of its plans to take the company public in Canada. The firm completed a private placement of more than 357,000 of its Series D shares, yielding gross proceeds of $16 million. A final tranche of the offering is expected to close in the coming weeks, which is expected […]Read More
- June 4, 2019
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