Sales, Funding & Banking News

Cannabis content site raises $4.1 million with NFL legend’s help

Marijuana content website Herb has raised $4.1 million in seed funding from a group of investors that includes Hall of Fame quarterback Joe Montana. Herb – which focuses on how-to video content along with news articles and other information – has roughly 5.3 million unique viewers monthly and gets about 200 million video views per […]

Read More

Privateer raises $58 million to boost marijuana expansion

Marijuana-centric private equity company Privateer Holdings – coming off a $122 million funding year – has increased its coffers with a significant raise of $58 million. The Seattle-based company’s recent Series B raise is a combination of equity and a convertible note, GeekWire reported. In 2016, Privateer became the first marijuana company to raise more […]

Read More

Banking troubles for Uruguay’s recreational cannabis businesses

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 anonymity – said […]

Read More

Recent New York medical marijuana licensee agrees to sale

A company that just this month won a license to grow and sell medical marijuana in New York is about to change ownership. Citiva Medical – one of five companies to receive MMJ licenses in early August – is in the process of being acquired by iAnthus Capital Holdings, the Albany Times-Union reported. The acquisition must […]

Read More

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

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.

Read More

Florida bank welcomes medical marijuana businesses

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 – without touching […]

Read More

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

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. After the […]

Read More

Australian medical cannabis firm expands to Canada with acquisition

An Australian medical marijuana company is acquiring Nova Scotia-based Mernova Medicinal for 10.1 million Canadian dollars ($8.1 million) in the latest example of foreign interest in Canada’s booming MMJ market and next summer’s anticipated recreational cannabis rollout. After the cash-and-equity deal is completed, Creso Pharma will be the only Australian-based cannabis firm with direct exposure […]

Read More