Sales, Funding & Banking News

Chart: Colorado recreational marijuana sales boom in month of March

Recreational marijuana sales in Colorado eclipsed $105 million in March 2018, the highest monthly total for adult-use sales in the program’s history. The record-breaking month is part of a broader, seasonal trend playing out in Colorado’s rec market, where sales have consistently spiked in early spring, midsummer and around holidays. Seasonal sales trends are common […]

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Marijuana investment firm Merida surpasses $50 million in assets

New York-based Merida Capital Partners, a private equity fund that has been investing in cannabis companies since 2012, announced that it’s amassed more than $50 million in assets under management. Its investments include nine marijuana businesses, with three that touch the plant and six ancillary. The private equity fund has put money behind: Kush Bottles, […]

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Marijuana firm iAnthus lands $50 million investment

Multistate cannabis firm iAnthus secured a $50 million investment from Gotham Green Partners, a marijuana-focused private equity firm based in New York. The deal, announced Monday, is one of the largest investments by a single investor in a U.S.-based publicly traded cannabis firm, according to a news release. Net cash proceeds to the firm are […]

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Four marijuana firms to form multinational company, continuing industry consolidation

Consolidation continued in the cannabis industry Tuesday, with four major marijuana businesses from the United States and Canada merging to launch a multinational company with combined revenue forecast to total more than $200 million next year.

Operating under the name TILT Holdings, the new companies will include the combined operations of Baker Technologies, Sea Hunter, Briteside and Santa Veritas Therapeutics, according to a news release.

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Chart: Putting the $55 billion US retail cannabis market in perspective

With revenue of $5.8 billion-$6.6 billion, sales of legal recreational and medical cannabis in the United States in 2017 topped those of Oreos and organic produce combined. The data – published in the newly released Marijuana Business Factbook – illustrates how quickly the legal U.S. marijuana industry has grown. It now rivals Americans’ collective spending on […]

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West Virginia mulling payment, banking options for medical marijuana companies

In advance of the launch of West Virginia’s medical cannabis industry, the state treasurer has proposed potential solutions for MMJ companies in need of payment and banking solutions to avoid operating on an all-cash basis. According to the Charleston Gazette-Mail, Treasurer John Perdue has floated two different possibilities to Gov. Jim Justice: Create a third-party […]

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Kevin O’Leary of ‘Shark Tank’: Institutional investors want to wager on cannabis – just not yet

Big institutional investors are sitting on billions of dollars they’d like to pump into the marijuana industry, but that’s not likely to happen as long as cannabis remains illegal in the eyes of Uncle Sam, according to investment mogul Kevin O’Leary. “The amount of capital that wants to come into this space is unprecedented,” said […]

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GrowGeneration raises $10 million to bankroll cannabis-related acquisitions

GrowGeneration, a multistate operator of retail hydroponic and organic gardening stores serving marijuana growers, said it raised $10 million that it will use to purchase more businesses. The Denver company said in a news release it has more than $17 million in cash on its balance sheet and that it plans to “execute on multiple […]

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California’s low marijuana tax stream complicating MJ business climate

A lower-than-expected first quarter of marijuana excise tax income in California has thrown a wrench into the works for those hoping state lawmakers might drop tax rates to help combat the black market. Between January and the end of March, California took in only $34 million in excise tax revenue from cannabis sales. That falls far […]

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