Sales, Funding & Banking News

20 people to watch in 2018

The cannabis industry is poised for huge growth in 2018 thanks in part to the expected launch of several massive new marijuana markets such as California and Canada, which will generate billions of dollars in sales and create tens of thousands of business opportunities.

The changing business climate will lead to new challenges, struggles and, potentially, failures for companies and the individuals behind them.

As we hurtle into 2018, the editorial staff at Marijuana Business Magazine – which is published by Marijuana Business Daily – singled out 20 executives in the cannabis space who bear watching in the year ahead.

Read More

US cannabis firm MedMen to go public in Canada to ‘add jet fuel’ to growth plan

Count California-based MedMen as the latest U.S. marijuana company looking to Canada to raise money. The management and investment firm, which operates dispensaries and production facilities in California, New York and Nevada, plans to go public in Canada later this year, CNBC reported. The company will list its shares on the Canadian Securities Exchange (CSE). The move into Canada […]

Read More

New company launched to serve debt-starved marijuana businesses

Marijuana companies looking to access the debt market to expand their business have a new lender they can turn to for funding. Trichome Yield Corp. will provide debt financing and offer a suite of professional services for emerging and established cannabis companies, both in Canada and around the world, according to a news release. The new […]

Read More

California marijuana grower Canndescent closes $10M raise to boost output

Canndescent, a major California cultivation company, has closed a $10 million Series B offering to finance the launch of new products and expand its production capacity by some eightfold. The lead investors in the raise are Floret Ventures, a San Francisco-based consultancy and investment firm, and Altitude Investment Partners in New York. Santa Barbara-based Canndescent plans […]

Read More

Privateer sets milestone for US marijuana industry with $100 million raise

Seattle-based Privateer Holdings, which has long been setting benchmarks for capital raises in the marijuana sector, has established a new standard – and demonstrated that at least some deep-pocketed investors have not been spooked by U.S. Attorney General Jeff Sessions. The marijuana-focused private equity company announced Thursday it has completed a $100 million Series C […]

Read More

Canadian marijuana company nets a total of CA$10M through crowdfunding effort

A Canadian cannabis company has upped the amount of money it raised through a new crowdfunding method aimed at smaller investors, bringing in over 60% than initially reported. True Leaf Medicine said Wednesday it raised 10 million Canadian dollars ($8.1 million) through a so-called Regulation A+ offering, becoming the first Canadian-listed company in any industry to […]

Read More

Oregon credit union, tech firm to offer marijuana banking services

Oregon-based Wauna Credit Union has forged a partnership with Arizona tech firm Hypur that will allow the financial institution to service marijuana-related companies. According to the Coast River Business Journal, the credit union believes the partnership will allow the institution to “become part of the solution and not part of the problem.” Hypur is providing […]

Read More

Canopy enlists first major bank to lead CA$175M marijuana equity financing

Canopy Growth became the first marijuana company in Canada to enlist a major Canadian bank to lead an equity-based funding, signaling a greater willingness by big financial institutions to provide financing to the nation’s cannabis businesses. Bank of Montreal subsidiary, BMO Capital Markets, and GMP Capital are co-leading the stock-purchase deal that will allow Canopy to […]

Read More

Crowdfunding effort nets CA$6.2M for Canadian hemp, marijuana company

A new crowdfunding method aimed at smaller investors helped a Canadian cannabis company raise 6.2 million Canadian dollars ($4.1 million). True Leaf Medicine, a company in Vernon, British Columbia, that makes hemp-derived treatments for animals and marijuana products for humans, launched its so-called Regulation A+ stock offering last November. The company plans to use the money […]

Read More

19 attorneys general urge Congress to give cannabis states access to banking

A letter to 10 major Congressional leaders from 19 attorneys general asks Congress to push through legislation that would allow states with medical or recreational marijuana laws to bank as other business do. The group suggests that Congress give special attention to measures such as the Secure and Fair Enforcement Banking Act (SAFE). Congressman Ed Perlmutter, D-Colorado, introduced […]

Read More

Cannabis grow-equipment company GrowGeneration raises $9 million

GrowGeneration, a multistate operator of retail hydroponic and organic gardening stores serving marijuana growers, said it raised $9 million through the offering of convertible notes. The Denver company said in a news release filed with the Securities and Exchange Commission that it plans to use the proceeds to expands its operations. CEO Darren Lampert said […]

Read More

Week in Review: New York medical cannabis, the future of Colorado hemp & Maryland banking

New York approves an expanded line of medical marijuana products, a Colorado hemp producer departs for Arkansas, and a Maryland credit union welcomes MMJ businesses. Here’s a closer look at some notable developments in the marijuana industry over the past week. New York blues It’s bullish news that one of New York’s licensed medical marijuana […]

Read More