Sales, Funding & Banking News

Finance: Sales, Funding & Banking News

Nevada medical cannabis licenses fetch almost $2 million

Oregon-based cannabis oil company Golden Leaf Holdings paid $1.925 million to acquire cultivation and extraction licenses from NevWa, a Nevada company that does business as Grassroots. NevWa’s two licenses allow for distribution and sales in Nevada, including prominent tourist destinations Las Vegas and Reno, according to a news release. Golden Leaf Holdings’ move comes as Nevada is […]

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Pacific Northwest marijuana investment network set to launch

Cannabis-related companies in Alaska, Oregon and Washington seeking capital may find some investors through the Cannabis Investment Network, an organization launching this week that aims to connect marijuana firms with financial backers. Cannabis Investment Network (CIN) is hoping to serve smaller-scale firms that are looking to raise from $500,000 to $3 million, according to a […]

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Aussie medical cannabis company raises AU$10 million

Australian medical marijuana firm MGC Pharmaceuticals raised 10 million Australian dollars ($7.7 million) to foster development of MMJ products and purchase other companies According to Business Insider Australia, the medical grade cannabis company will use the funds for clinical trials and research and development involving pharmaceutical-grade MMJ products. The company is also seeking acquisition prospects at […]

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Cannabis grow-equipment company completes $1M-plus raise

Another Denver-based company connected to the marijuana trade revealed this week it has completed a $1.65 million round of fundraising. GrowGeneration Corp., an ancillary business that specializes in gardening supplies for commercial and home grows, told the Denver Business Journal it secured the funds in equity financing from Merida Capital Partners, “a cannabis infrastructure fund.” […]

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Cannabis marketing platform gets $1.6M in added funding

Baker, a Denver-based software provider that links cannabis dispensaries with their customers, announced it has secured $1.6 million since an August seed round, bringing its total funding to $3.5 million.

Poseidon Asset Management, a marijuana-focused investment management firm in San Francisco, led the funding round. Other funders were chiefly existing investors, including serial entrepreneur Michael Lazerow as well as Base Ventures and XG Ventures, two venture capital firms based in California.

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Canadian medical cannabis grower added to key stock index

The Canadian cannabis industry has taken another leap toward the mainstream now that Canopy Growth Corp. is being added to the influential S&P/TSX Composite Index. Canopy, one of Canada’s federally licensed medical marijuana cultivators, will be the country’s first cannabis company to be included in the index’s health care sector, The Globe & Mail reported. The […]

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Wall Street takes notice of marijuana: Q&A with cannabis analyst Vivien Azer

By Omar Sacirbey Vivien Azer, apparently the first cannabis analyst at a mainstream investment bank, is bullish on the marijuana industry. And her confidence in the market is a significant reflection of how Wall Street views cannabis. Azer is an analyst at Cowen and Co., a New York investment bank founded in 1918.

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New York patients aren’t buying much medical marijuana

New York’s nearly 13,000 medical cannabis patients apparently aren’t enthusiastic about their purchase options at the state’s dispensaries. The first New York dispensary opened over a year ago, in January 2016, but only 10,250 patients have made a purchase and just 6,403 have been repeat buyers, Politico reported Friday. The figures don’t portend a profitable […]

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