Lisa Bernard-Kuhn

Navy Capital leads $6 million funding round for Los Angeles cannabis firm

Los Angeles-based marijuana extracts firm Field is poised to expand into new markets after closing a $6 million funding round. The raise was led by: Cannabis investment fund Navy Capital under managing partners Sean Stiefel and John Kaden. MedReleaf executives Eitan Popper, Igor Gimelshtein and Tarik Ouass, who earlier this year sold the company to Aurora Cannabis for 3.2 billion Canadian dollars ($2.9 billion). […]

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Cannabis firm Tilray cuts ties with Namaste Technologies following pledge party

A reportedly racy shareholder party hosted by Namaste Technologies has cost the Toronto company its business ties with fast-growing cannabis producer Tilray.

Officials with Tilray confirmed in an email to Marijuana Business Daily that it had “ended its relationship” with Namaste after a highly publicized “pledge party” the firm held for stockholders who promised not to sell company shares for 90 days.

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MedMen inks CA$75M equity financing deal to expand US cannabis operations

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 – […]

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Oregon marijuana firm lands $12.5M from Canada’s Tidal Royalty to fund expansion

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 […]

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Marijuana exchange-traded fund takes in $22 million in August

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 […]

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Earnings highlights: Hedge fund billionaire Leon Cooperman bets on cannabis; two firms deliver solid Q2 results

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 […]

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Marijuana firm Invictus to spin off vape subsidiary in move to tap US, global markets

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 […]

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Breaking down the big deal behind Constellation’s bet on cannabis and Wall Street’s involvement

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 […]

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