Sales, Funding & Banking News

MedMen expands into Arizona medical marijuana market via acquisition

Los Angeles-based MedMen Enterprises is expanding  into Arizona’s large medical marijuana market after striking a deal with WhiteStar Solutions to acquire Monarch, a vertically integrated MMJ business with operations in Scottsdale and Mesa. The deal – inked for an undisclosed sum – will pay 80% in stock and 20% in cash and underlines the fact investors […]

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CBD drugmaker GW Pharmaceuticals poised to raise $300 million

GW Pharmaceuticals is setting out to sell $300 million worth of U.S. depository shares. The London-based company’s announcement comes on the heels of the U.S. Drug Enforcement Administration’s move to take some cannabidiol products off the most restrictive class of controlled substances. That change will allow Epidiolex – a CBD drug manufactured by GW Pharmaceuticals to treat rare […]

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Want to cash out of your cannabis business? Here are some things to consider

As merger and acquisition activity accelerates across the cannabis industry, many companies are discovering they don’t need a for-sale sign in the window to be a takeover target.

The flurry of M&A activity, which is on pace to double in the marijuana industry this year, is giving more company founders a chance to cash out at an attractive price after years of working 24/7 to build their businesses.

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Hawaii regulator calls for federal marijuana banking solutions

Hawaii’s top banking regulator joined the growing chorus of state leaders urging Congress to consider banking solutions for the cannabis industry. Iris Ikeda, commissioner of Hawaii’s Division of Financial Institutions, is among 13 state banking regulators who have sent a letter to congressional leaders seeking legislation that creates a safe harbor for organizations to bank […]

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Marijuana publication High Times buys Dope Magazine for $11.2 million

California-based cannabis culture publication High Times has acquired Dope Media, the Seattle-based publisher of Dope Magazine, for $11.2 million in cash and stock. The deal adds to the High Times portfolio of cannabis publications, which includes the online news website Green Rush Daily and Culture Magazine. The transaction also comes as High Times’ parent, High […]

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Multistate marijuana firm Acreage to go public in Canada via reverse takeover

Acreage Holdings, a multistate cannabis company based in New York, is planning to go public in Canada via a reverse takeover, becoming the latest U.S. marijuana business to get its shares listed north of the border through an RTO. Acreage is seeking to trade on the Canadian Securities Exchange after taking over Toronto-based Applied Inventions […]

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Navy Capital leads $6 million funding round for Los Angeles cannabis firm

Los Angeles-based marijuana extracts firm Field is poised to expand into new markets after closing a $6 million funding round. The raise was led by: Cannabis investment fund Navy Capital under managing partners Sean Stiefel and John Kaden. MedReleaf executives Eitan Popper, Igor Gimelshtein and Tarik Ouass, who earlier this year sold the company to Aurora Cannabis for 3.2 billion Canadian dollars ($2.5 billion). […]

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Marijuana software firm MJ Freeway raises $10 million to invest in new technology

Denver-based MJ Freeway, a point-of-sale system and government traceability software provider for the cannabis industry, has completed a $10 million raise. According to a news release, the Series C raise – which was oversubscribed – was led by New York-based venture capital firm Batu Capital. Cresco Capital Partners, a Dallas-based marijuana investment firm, also “participated […]

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Marijuana ETF alters back-office players after changes, questions over bank’s role

An exchange-traded fund that invests in marijuana companies is changing its custodian, administrator and transfer agent after major changes at the ETF and questions about a bank’s role in the investment vehicle. The $560 million ETFMG Alternative Harvest ETF – which trades under the symbol MJ – previously had U.S. Bancorp perform those duties. The bank […]

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Weekly Deal Watch: Cannabis investing and M&A highlights (as of Sept. 14, 2018)

This weekly series from Marijuana Business Daily and Viridian Capital Advisors provides the latest data on cannabis investment activity and M&A, along with key takeaways, analysis and trends based on recent market moves. The data below, provided by Viridian Capital Advisors, is through the week ended Sept. 14, 2018. Capital raises key takeaways:  Multistate cannabis retailer Have a […]

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Canadian cannabis firm Captor pays $6M to acquire a fourth California dispensary

Captor Capital, a vertically integrated Canadian marijuana company, acquired Chai Cannabis, a medical and recreational cannabis store in Santa Cruz, California, for roughly $6 million. The acquisition adds a fourth California retail shop to Captor’s investment portfolio, which includes two MedMen-branded dispensaries, according to a news release. Chai also possesses a license permitting cannabis delivery […]

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Parent firm of marijuana mag High Times raises $5M, extends cutoff for $50M goal

The parent of California-based cannabis culture magazine High Times raised more than $5 million in its effort to go public, but that’s still short of the $17.2 million it needs to be listed on the Nasdaq and far from the $50 million it set out to raise. High Times Holding extended its fundraising deadline by more than a month to allow for more investment.

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