Sales, Funding & Banking News

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 …

Week in Review: Nevada marijuana promotions, MMJ banking in Florida & Sessions’ letters

Bart Schaneman  | August 11, 2017

By Bart Schaneman and Omar Sacirbey

A Nevada regulator threatens crackdowns on marijuana promotions, a bank in Florida is openly working with MMJ businesses, and U.S. Attorney General Jeff Sessions writes letters to governors of three recreational cannabis states.

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

Florida bank welcomes medical marijuana businesses

John Schroyer  | August 7, 2017

A bank has taken the unusual step of embracing medical marijuana businesses in Florida.

Orlando-based First Green Bank has opened accounts and granted financial services to six of Florida’s seven licensed MMJ producers, according to The Palm Beach Post.

First Green Bank’s services include accepting large cash deposits from marijuana firms and …

Chart: Many operational marijuana businesses are seeking funding in 2017

Eli McVey  | August 7, 2017

By Eli McVey

In most sectors of the marijuana industry, roughly 50% of revenue-generating companies are either actively trying to raise capital or plan to this year, according to data in the newly released Marijuana Business Factbook 2017.

Cannabis Wheaton’s CA$15M purchase of ABcann shares OK’d

Matt Lamers  | August 2, 2017

Cannabis Wheaton received approval from the TSX Venture Exchange to purchase 15 million Canadian dollars ($12 million) of ABcann shares.

The transaction is part of a larger CA$30 million investment Cannabis Wheaton is making to fund the construction of a 50,000-square-foot (4,600-square meter) expansion at ABcann’s proposed Kimmett cannabis cultivation facility in Napanee, Ontario.