Marijuana Sales, Funding & Banking News

Cannabis REIT investing $25 million in Illinois MMJ grow facility

Innovative Industrial Properties, a San Diego real estate investment trust (REIT) serving the medical marijuana industry, is spending up to $25 million to acquire and a lease out a property in Illinois that is slated to be used as an MMJ cultivation and processing facility. Innovative Industrial Properties, which trades on the New York Stock […]

Read More

Cannabis company Golden Leaf Holdings ends $125M merger with Terra Tech

Toronto-based Golden Leaf Holdings announced it won’t pursue a $125 million merger with Terra Tech, a vertically integrated multistate marijuana company that was faces a lawsuit alleging theft, stock manipulation and filing false reports. Golden Leaf and California-based Terra Tech had previously signed a nonbinding letter of intent to merge. The deal, subject to a number […]

Read More

Massachusetts bank willing to accept deposits from some cannabis businesses

At least one bank in Massachusetts is willing to do business with medical marijuana companies. Swansea-based BayCoast Bank said it will take deposits from MMJ businesses, according to the Boston Business Journal. BayCoast Bank is offering to work with medical marijuana companies – as well as MMJ businesses that have entered the state’s new adult-use […]

Read More

IGC Resources, Westleaf Cannabis close CA$20M raise, including Tilray investment

Alberta marijuana companies IGC Resources (TSXV: IGC.H) and Westleaf Cannabis closed a brokered private placement of 20 million Canadian dollars ($15 million), including CA$2.9 million from British Columbia-based Tilray. The capital raise was completed in connection with Westleaf’s proposed reverse takeover of IGC, which received conditional approval from the TSX Venture Exchange. The company plans to […]

Read More

CBD beverage maker eyes global expansion via $85M purchase of Utah company

A Denver company that makes CBD drinks has agreed to acquire a Utah beverage company to increase its distribution might, especially in Asia. New Age Beverages Corp. (Nasdaq: NBEV) announced that it will acquire privately held Morinda Holdings of Provo, Utah, for $85 million. Here’s what you need to know: New Age will pay $75 million […]

Read More

L.A.-based marijuana firm OG DNA Genetics inks $35 million raise

OG DNA Genetics of Los Angeles has raised a total of $35 million through two initial equity financing deals. The company said it plans to use the proceeds to expand its operations in California, where it manufactures and distributes its branded DNA indoor-grown flower, pre-rolled joints, vaporizer cartridges and concentrates. More details about the funding […]

Read More

Multistate cannabis firm Cresco Labs launches trading on CSE

Chicago-based Cresco Labs began trading Monday on the Canadian Securities Exchange, adding its name to the rapidly growing list of U.S.-based firms that are going public in Canada. Here’s what you need to know: Cresco Labs will trade on the CSE under the ticker symbol CL. Shares of the multistate marijuana company opened at 8 Canadian […]

Read More