Canada’s medical cannabis companies have raised 2 billion Canadian dollars ($1.57 billion) in capital this year to tap overseas opportunities and build out domestic capacity ahead of legalization.
If the trend persists, cannabis businesses could raise nearly CA$8 billion this year – more than four times the more than CA$2 billion raised last year.
Some of the top deals include:
- Aurora Cannabis struck a deal to raise up to CA$230 million.
- Canopy enlisted BMO Capital Markets to lead CA$175 million equity financing.
- Cronos hopes to raise up to CA$100 million in the second equity financing between a large bank and a medical marijuana company.
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