Sales, Funding & Banking News

Marijuana firm MariMed invests $30M in hemp-derived CBD producer

Massachusetts-based MariMed, a multistate cannabis operator, is entering the hemp-derived CBD business with a $30 million investment in a Kentucky company. The company, GenCanna, has contract farmers to grow hemp to its specifications as well as processing facilities to turn the plant into CBD extracts, concentrates, isolates and other products. GenCanna plans to use the […]

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Marijuana firms Terra Tech, Golden Leaf sign intent to merge in $125 million deal

Terra Tech Corp., a California-based, vertically integrated cannabis company, announced Monday that it has signed a nonbinding letter of intent to merge with Toronto-based Golden Leaf Holdings. If the deal is consummated, Golden Leaf shareholders would receive 0.1203 common shares of Terra Tech for each common share of Golden Leaf held, valuing the deal at roughly […]

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Medical marijuana firm Surterra raises $54.6 million of $165.5 million goal

Surterra Wellness, an Atlanta-based medical marijuana company, has raised nearly $55 million as part of a funding round that ultimately aims to drum up $165.5 million. The $54.6 million raise – comprised of debt and options or warrants – included investments from 17 accredited investors, according to filings with the U.S. Securities and Exchange Commission. Company […]

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Florida Democrats want to create state bank to help medical marijuana companies

The same Florida politician who saw two of her bank accounts closed this year after voicing support for medical cannabis is now spearheading a Democratic push for a state-run bank to service the medical marijuana industry. Nikki Fried, who is running for Florida agriculture commissioner in the upcoming election, said both account shutdowns were related to […]

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Marijuana firm Cresco Labs expands in Arizona, Illinois

Just weeks after closing a $100 million capital raise, Chicago-based Cresco Labs is growing again – this time through acquisitions in Arizona and Illinois. The multistate cannabis firm announced that it has acquired Arizona Facilities Supply, which provides management services to Encanto Green Cross Dispensary. Encanto is licensed to cultivate, process and dispense medical marijuana […]

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Canadian cannabis firm Aphria approved for NYSE listing

Aphria, one of Canada’s largest cannabis producers, has been approved to list its shares on the New York Stock Exchange. The firm will trade on the NYSE under the ticker symbol APHA starting Nov. 2. The Ontario-based company joins a growing list of Canadian cannabis firms turning to the top U.S. exchanges to tap the […]

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Eaze co-founder inks $5 million raise for marijuana logistics firm

A former executive of marijuana tech startup Eaze has raised $5 million for a new B2B logistics and e-commerce platform, Wayv. Based in Los Angeles, Wayv allows marijuana retailers to buy from a network of licensed cannabis companies and receive next-day deliveries. The platform integrates real-time tracking, regulatory and compliance features. Keith McCarty, a co-founder […]

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Marijuana firm Curaleaf makes stock trading debut in Canada with $4B valuation

Massachusetts-based Curaleaf made its trading debut on the Canadian Securities Exchange on Monday after a $400 million private placement. The multistate cannabis firm raised almost three times its initial offering target of $150 million, giving the company a valuation of $4 billion. Curaleaf, which changed its name in August from PalliaTech, is listed on the […]

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