Sales, Funding & Banking News

Marijuana tech firm Metrc gets $50M with help from Snoop Dogg, Tiger Global

Metrc, which operates cannabis seed-to-sale tracking systems in 11 states and Washington DC, raised $50 million to expand its operations with the help of two notable marijuana investors. The funding round, according to a news release, was led by New York-based Tiger Global Management and California’s Casa Verde Capital. The latter was co-founded by rapper […]

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Marijuana company 4Front completes $31 million raise to fund acquisitions, expansion

Multistate cannabis operator 4Front Holdings, which plans to go public in Canada, raised $31 million in a private placement of equity securities – more than double the initial offering of $15 million, according to a news release from the company. Phoenix-based 4Front plans to use the proceeds to invest in “top-tier talent,” acquisitions and the […]

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Marijuana vape firm Pax Labs raises $20M but seeks to avoid VC dependence

San Francisco-based Pax Labs has closed a $20 million funding round, Bloomberg reported. CEO Bharat Vasan told the news outlet that the company wanted to keep the investment small to “avoid becoming overly dependent on venture capital.” Launched by the founders of e-cigarette maker Juul, Pax Labs vaporizers allow users to control the device with […]

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Verano, Scythian strike $188 million deal for Florida medical cannabis assets

Chicago-based Verano Holdings struck a deal to acquire a prized Florida medical marijuana license from Toronto-based Scythian Biosciences in exchange for a substantial equity investment. The deal, which includes an additional Scythian investment and is valued at $188 million (246.3 Canadian dollars) overall, reflects both companies’ focus on the U.S. medical marijuana industry – Verano […]

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US cannabis firm places Wall Street Journal ad to appeal to Trump

Readers of the Wall Street Journal were greeted Tuesday morning by a full-page advertisement calling on President Donald Trump to lift federal marijuana bans, as U.S. cannabis firms seek to capitalize on Canada’s recreational launch. “We want to get cannabis into the national narrative because this industry presents the biggest economic opportunity our generation will […]

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Ahead of Canada’s big day, forecast for cannabis industry gets a boost

On the eve of Canada’s historic launch of its recreational marijuana program, the global cannabis industry appears poised for explosive growth thanks to the confluence of a host of market developments. “The well-capitalized cannabis industry has been evolving rapidly and looks to address a far larger (market) than we had originally forecast,” Wall Street analyst […]

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Marijuana firm Cresco Labs charts plan to go public in Canada

Multistate cannabis operator Cresco Labs is looking to go public in Canada via a reverse takeover (RTO), the latest U.S. firm to use this path to a listing on the Canadian Securities Exchange (CSE). Cresco announced Wednesday that it’s pursuing an RTO of Randsburg International Gold, an Ontario-based firm that has no significant operations but is listed on […]

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Oklahoma banking officials warn banks about serving medical marijuana firms

Oklahoma banking officials are urging financial institutions to be cautious or even stay clear of the state’s nascent medical marijuana industry, dealing a potential setback to MMJ companies hoping to secure accounts with local banks or credit unions. Oklahoma banking commissioner Mick Thompson told a legislative working group that financial institutions must weigh the dangers […]

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