Medical marijuana companies around the world have raised $2.7 billion so far this year to capitalize on explosive growth in the industry, an almost 300% increase from the same time last year.
More than half that total, $1.6 billion, was raised in Canada via 189 transactions, the Financial Post reported.
The Viridian Cannabis Deal Tracker also found that M&A fever is gripping the Canadian marijuana space: This year’s 78 M&As in Canada alone nearly match last year’s 85 deals worldwide.
In Canada, most of the capital raises have been done through private placements, but a growing number of businesses are starting to tap debt markets in a big way.
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10 Killer Technologies. Innovation is sweeping every sector of the cannabis industry.
Unicorns and players abound. It is nearly impossible to justify the market caps on many of these deals. The fundamental metrics do not match the hype. Buyer beware.