Sales, Funding & Banking News

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 […]

Read More

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 […]

Read More

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 […]

Read More

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 […]

Read More

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 […]

Read More

CBD manufacturer Mile High Labs closes $35 million Series A funding round

Loveland, Colorado-based Mile High Labs – a manufacturer of CBD crude oil, distillate and isolate – closed a $35 million Series A funding round as it works to expand its operations. The raise was led by institutional investors from the United States and Europe, as well as family offices and a venture capital fund. The company […]

Read More

Canadian cannabis companies bullish on US market, boosting cross-border acquisitions and deals

As marijuana companies across Canada brace for the historic rollout of the country’s recreational program next week, some businesses have their sights set on bigger opportunities they see coming in the United States. Canadian cannabis investment firms and holding companies are making multimillion-dollar bids on a range of U.S.-based cultivators, manufacturers and retailers already. Relatively […]

Read More

Colorado cannabis biotech snags $10 million for expansion

Marijuana biotech firm Front Range Biosciences announced Thursday it secured $10 million in private funding to accelerate production in California, Canada and Colorado. The company, based in Lafayette, Colorado, said it plans to invest some of the money in investigating new strains of cannabis. Front Range Biosciences uses tissue-culture technology to make “plantlets” for both […]

Read More

IHeartMedia to invest up to $10 million in marijuana publisher High Times

The nation’s largest radio broadcaster, IHeartMedia, has agreed to invest up to $10 million in the publisher of High Times magazine, giving the marijuana company access to the media firm’s digital and radio advertising platforms. Under the deal, IHeart will commit $5 million-$10 million worth of advertising on the internet and radio – platforms High […]

Read More