Marijuana Sales, Funding & Banking News

Marijuana firm Green Growth Brands raises $45.5 million

Ohio-based Green Growth Brands raised $45.5 million through a private placement of convertible debt, the firm announced Friday. Terms of the financing included 15% secured convertible debentures at a price of $1,000 each and a conversion price of 7 Canadian dollars, which will be divided by the Canadian-U.S. exchange rate upon conversion, the company said […]

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Marijuana firm Tilray revenue up nearly 200% in Q1; net loss grows on spending

Tilray, a British Columbia, Canada-based cannabis cultivator and distributor, reported revenue of $23 million for the first quarter of 2019, up 195% from the same period last year. The company’s net loss, however, widened nearly sixfold on higher spending. Tilray, which reports its earnings in U.S. dollars, said in a news release the sales gain […]

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Cannabis firm Indus acquires multistate concentrate, vaporizer brand for $20M

California marijuana supplier Indus Holdings expanded its operations to Nevada and Oregon by signing an agreement to acquire the assets of W The Brand, a manufacturer and distributor of marijuana concentrates, cartridges and disposable pens, for $20 million in stock and cash. Here’s what you need to know: Salinas-based Indus will gain a 24,000-square-foot cultivation […]

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Acreage to sell cannabis real estate assets to newly formed REIT

New York-based marijuana company Acreage Holdings said it agreed to sell cannabis-related real estate to a newly formed real estate investment trust (REIT), GreenAcreage Real Estate Corp., under a leaseback agreement between the two companies. The price wasn’t disclosed. Acreage holds a 20% interest in GreenAcreage Real Estate Corp. (GARE). Acreage CEO Kevin Murphy also […]

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Marijuana company Columbia Care reports improved Q1 revenue, wider net loss

Columbia Care, a New-York based vertically integrated cannabis operator, reported revenue of $12.9 million for the first quarter ended March 31, 2019, up 45% from the same period last year thanks to “organic growth” and stronger consumer demand for its products. The net loss for the quarter widened to $25.1 million compared with a $9.7 […]

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Cannabis firm Harvest Health closes $100 million tranche of private placement

Multistate marijuana firm Harvest Health & Recreation (CSE: HARV) closed the initial tranche of its previously announced private placement for gross proceeds of $100 million. The Arizona-based company plans to use the net proceeds to cover working capital and for other general corporate costs, according to a news release. Under terms of the financing, Harvest […]

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Missouri’s Triad Bank now offering services to cannabis businesses

Missouri’s medical marijuana industry has yet to launch, but that hasn’t stopped one local bank from stepping up to provide services. Triad Bank, based in St. Louis suburb Frontenac, is offering deposit services to marijuana-related businesses such as processors, cultivators and dispensaries, CEO Jim Regna told Marijuana Business Daily. The bank is well aware of […]

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Marijuana group 4Front secures $50 million loan to help build facilities

Phoenix-based 4Front Holdings, a vertically integrated cannabis group, has secured a $50 million loan to help it build cultivation and production facilities connected with the company’s expected merger with Cannex Capital. The deal with Vancouver, British Columbia-based Cannex is awaiting final approval from U.S. antitrust authorities. The resulting combined entity is to be named 4Front […]

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