Sales, Funding & Banking News

Analysts: High Times sale could buoy cannabis industry

Omar Sacirbey  | June 15, 2017

By Omar Sacirbey

The marijuana industry can expect higher valuations, more capital injections and increased merger and acquisition activity after the sale of High Times and the iconic magazine's Cannabis Cup.

That’s the assessment of analysts following the deal, in which investors paid $42 million for a 60% stake in the company.

Wall Street vet bullish on cannabis: Q&A with iAnthus Capital’s Hadley Ford

Omar Sacirbey  | June 14, 2017

By Omar Sacirbey

In 14 years on Wall Street, Hadley Ford was involved in more than 150 deals worth billions of dollars. He later co-founded and scaled a cancer treatment facility to more than 300 employees and $100 million in annual revenue.

In 2014 he moved to the cannabis sector by founding iAnthus Capital.

Study: California rec marijuana sales to surpass $5B annually

Omar Sacirbey  | June 12, 2017

California’s looming legal recreational marijuana market eventually will total more than $5 billion in annual sales, but the black market will continue to provide substantial competition, according to a study by the University of California Agricultural Issues Center.

Contracted by the the state's Bureau of Marijuana Control, the study mirrors Marijuana Business Daily's projection in May that …

Chart: U.S. marijuana industry’s economic impact to approach $70B by 2021

Eli McVey  | June 12, 2017

By Eli McVey

The U.S. cannabis industry is poised to inject nearly $70 billion on an annual basis into the American economy by 2021, an eye-popping figure that underscores the broader economic impact for towns and municipalities that accept legal marijuana businesses into their communities.

Investors buy High Times, Cannabis Cup in $42M deal

John Schroyer  | June 1, 2017

A group of investors led by a Los Angeles investment firm have purchased a controlling stake in the oldest cannabis-centric magazine in the United States, High Times - along with its signature event, the Cannabis Cup - in a transaction valued at about $42 million.

The new owners have rebranded the company as High Times Holding …

Chart: Retail marijuana sales vs. other industries & goods

Eli McVey  | May 30, 2017

By Eli McVey

With revenue of $4 billion-$4.5 billion, sales of legal recreational and medical marijuana in 2016 topped those of Viagra and Cialis, paid music streaming services, tequila and Girl Scout Cookies.

It’s a notable milestone for an industry still very much in its infancy.

Cannabis social media site MassRoots needs $5M to stay afloat

Omar Sacirbey  | May 25, 2017

MassRoots, a popular marijuana-focused social media platform, said in its quarterly financial filings that the company is running low on capital and will need to raise $5 million in the next year “to continue to fund operations.”

The Denver-based business added that it expects to be able to raise most of that sum by exercising warrants.

“We are …

A $200M day: Two investors reveal big plans to fund marijuana businesses

Bart Schaneman  | May 24, 2017

By Bart Schaneman

A California retail estate investment firm and a wealthy Florida medical marijuana advocate separately pledged Tuesday to pump $100 million each into cannabis businesses, marking a notable new chapter in the MJ industry.

The combined $200 million is among the largest amounts of planned cannabis investments disclosed in a single day.

California company plans to invest $100 million in cannabis sector

Bart Schaneman  | May 23, 2017

StarGreen Capital – a new subsidiary of a Southern California-based real estate investment firm – said Tuesday it plans to invest $100 million in California’s medical and recreational marijuana industries over the next year.

StarGreen Capital, a unit of Beverly Hills-based Starpoint Properties, said in a news release it will focus initially on working with …