Sales, Funding & Banking News

Canadian marijuana firms raised $165.9M via debt instruments this year – and that’s just the start

Matt Lamers  | September 19, 2017

By Matt Lamers

Canadian medical marijuana companies are starting to tap debt markets in a big way to fund their explosive growth, which until earlier this year had been financed almost entirely through stock offerings.

Cannabis companies raised $165.9 million via debt instruments - including convertible bonds, debentures and term loans - through August.

Cannabis tech company Eaze raises whopping $27 million

Omar Sacirbey  | September 14, 2017

Eaze, a canna-centric technology company in San Francisco, has raised $27 million in Series B financing.

The raise was led by Bailey Capital, according to a news release, with additional funding by DCM Ventures, Kaya Ventures and FJ Labs.

Eaze’s latest funding round brings the company’s total financing to $52 million, including …

Tuatara invests $3.3 million in Colorado cannabis extracts firm

Bart Schaneman  | September 13, 2017

Tuatara Capital, a New York-based canna-centric investment private equity fund, has invested $3.3 million in marijuana extracts company Green Dot Labs.

Boulder, Colorado-based Green Dot Labs initially had sought raise $2.6 million in its Series A round, but Tuatara supplied all of the funding – and then some – a spokeswoman for …

Hawaii bans cash in medical marijuana dispensary sales

John Schroyer  | September 13, 2017

Hawaii said it will be the first state to require marijuana sales to be handled without cash, saying it wants to avoid robberies and other crimes involving dispensaries.

Medical marijuana dispensaries in Hawaii won’t be allowed to accept cash beginning Oct. 1 and will require people to use a debit payment app instead. The app is already an option …

AmeriCann gets $10M raise for Massachusetts MMJ project

John Schroyer  | September 8, 2017

Denver-based AmeriCann announced that it has secured $10 million in equity financing to help finalize the build-out of a massive Massachusetts medical cannabis cultivation operation.

The financing, from Mountain States Capital, will be mostly used on the company’s “flagship project,” a 1 million-square-foot multi-building MMJ cultivation and processing center in Freetown, 47 …

Week in Review: MMJ setback in Congress, Scotts repositions, Texas CBD takes a small step

John Schroyer  | September 8, 2017

By Omar Sacirbey, Bart Schaneman and John Schroyer

Medical marijuana safeguards suffer a setback in Congress, Scotts Miracle-Gro divests overseas to focus on North America opportunities – including MJ – and Texas approves a CBD producer.

Here’s a closer look at some notable developments in the marijuana industry over the past week.

Washington state broker aims to sell bundle of 12 marijuana retailers for up to $70M

Bart Schaneman  | September 6, 2017

By Bart Schaneman

A dozen marijuana retail businesses in Washington state are employing an unusual strategy on the mergers and acquisitions front: package their assets together for a combination sale.

In a move that’s being described as “unprecedented,” Seattle-based investment bank GRN Funds is asking $60 million-$70 million for the 12 retail cannabis firms.

No evidence of widespread bank crackdown on cannabis advocacy groups, observers say

Omar Sacirbey  | August 31, 2017

By Omar Sacirbey

A major bank’s decision to close accounts tied to the Marijuana Policy Project and NORML put cannabis advocacy groups on high alert, with some fearing the start of a concerted attack on the MJ movement by the Trump administration.

But the groups say it appears those initial fears were overblown.

Week in Review: Privateer’s big marijuana raise, Dixie’s edibles recall & a Roger Stone-spurred boycott

John Schroyer  | August 25, 2017

By Bart Schaneman and John Schroyer

Privateer Holdings raises $58 million for expansion of marijuana facilities, Dixie Elixirs recalls some edibles products, and Roger Stone’s role as a keynote speaker leads to boycotts of a cannabis conference.

Here’s a closer look at some notable developments in the marijuana industry over the past week.

Banking troubles for Uruguay’s recreational cannabis businesses

Kevin Huhn  | August 21, 2017

It didn’t take long for recreational marijuana businesses in Uruguay to encounter a key challenge that hinders U.S. cannabis companies: banking.

Uruguayan pharmacies began selling adult-use cannabis July 19, but the South American nation’s banks are refusing to do business with companies tied to marijuana.

A government official – speaking on the condition of …