Canadian MMJ Investment Firm Raises $9 Million

Investor interest in Canada’s medical marijuana industry looks to be extremely strong.

Canadian investment company PharmaCan raised $9 million in private investments for its medical marijuana projects during its most recent round of financing. According to PharmaCan’s CEO Paul Rosen, the company has now raised more than $10 million in marijuana investments during the last year.

Rosen said he initially set out to raise $5 million, however the investor response was “overwhelming.”

PharmaCan has invested in The Peace Naturals Project as well as the Whistler Medical Marijuana Corporation, which both received licenses from Health Canada to produce and distribute medical marijuana.

Rosen said he is confident that a third company he’s invested in – Vert Medical/Green Medical – will also receive a production license.

Canada will throw the switch on its new medical marijuana program on April 1, and the country’s entire medical marijuana economy could be as large as $1 billion. Last week, a federal judge ruled that Canadian home growers can continue to grow their own marijuana.

2 comments on “Canadian MMJ Investment Firm Raises $9 Million
  1. Rick Rosio on

    What must always be remembered that program driven models that provide health care services for chronic pain and PTSD and the numerous illness’s that cannabis therapy can help mitigate the use of toxic prescription medications. While you rush to produce the medicine… there should be knowledgeable cannabis therapy clinics to help the sick and suffering with their cannabis therapy. Cannabis is the treatment preference of the future generations as we deal with the difficult realities of our environment and our health.

    Reply
  2. [email protected] on

    Gentlmen: with all due respect, a couple of key points in your article are incorrect. An injunction was filed against the new April 1st regulations and has been granted by the courts. For the foreseeable future it allows for the continuation of the existing right to grow personally. The only stipulation until a verdict is rendered in a forthcoming trial is that MM patients are restricted to possessing no more than 150 grams per month. The other issue is that Health Canada is NOT limiting the number of new producer/distributor licenses to be granted. There are currently over 400 applications pending and I have personally spoken with representatives of Health Canada on the matter, and I quote verbatim: “No there will not be cap on licenses issued. If you meet the requirements you will be given a license. We will let the market decide who comes and who goes.” My company is an applicant and Mr. Tommy Chong (of Cheech and Chong fame)is a partner.
    If you would like to consider us a source for an upcoming article I can be reached at: [email protected]
    Best regards,
    Robert W. Stewart
    President
    Pharmagreen

    Reply

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