Sales, Funding & Banking News

Major Canadian bank expands focus on marijuana sector

After years of keeping the sector at arm’s length, some of Canada’s largest financial institutions are warming to the cannabis industry, including Bank of Montreal (BMO), which initiated research coverage Monday evening. The bank’s entry into the medical cannabis sector is a sign of the industry’s natural evolution.

Read More

Chart: Colorado recreational marijuana sales boom in month of March

Recreational marijuana sales in Colorado eclipsed $105 million in March 2018, the highest monthly total for adult-use sales in the program’s history. The record-breaking month is part of a broader, seasonal trend playing out in Colorado’s rec market, where sales have consistently spiked in early spring, midsummer and around holidays. Seasonal sales trends are common […]

Read More

Marijuana investment firm Merida surpasses $50 million in assets

New York-based Merida Capital Partners, a private equity fund that has been investing in cannabis companies since 2012, announced that it’s amassed more than $50 million in assets under management. Its investments include nine marijuana businesses, with three that touch the plant and six ancillary. The private equity fund has put money behind: Kush Bottles, […]

Read More

Marijuana firm iAnthus lands $50 million investment

Multistate cannabis firm iAnthus secured a $50 million investment from Gotham Green Partners, a marijuana-focused private equity firm based in New York. The deal, announced Monday, is one of the largest investments by a single investor in a U.S.-based publicly traded cannabis firm, according to a news release. Net cash proceeds to the firm are […]

Read More

Four marijuana firms to form multinational company, continuing industry consolidation

Consolidation continued in the cannabis industry Tuesday, with four major marijuana businesses from the United States and Canada merging to launch a multinational company with combined revenue forecast to total more than $200 million next year.

Operating under the name TILT Holdings, the new companies will include the combined operations of Baker Technologies, Sea Hunter, Briteside and Santa Veritas Therapeutics, according to a news release.

Read More

Chart: Putting the $55 billion US retail cannabis market in perspective

With revenue of $5.8 billion-$6.6 billion, sales of legal recreational and medical cannabis in the United States in 2017 topped those of Oreos and organic produce combined. The data – published in the newly released Marijuana Business Factbook – illustrates how quickly the legal U.S. marijuana industry has grown. It now rivals Americans’ collective spending on […]

Read More

West Virginia mulling payment, banking options for medical marijuana companies

In advance of the launch of West Virginia’s medical cannabis industry, the state treasurer has proposed potential solutions for MMJ companies in need of payment and banking solutions to avoid operating on an all-cash basis. According to the Charleston Gazette-Mail, Treasurer John Perdue has floated two different possibilities to Gov. Jim Justice: Create a third-party […]

Read More