Global cannabis industry raises whopping $2.7 billion in 2017

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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 data was compiled by New York-based Viridian Capital Advisors through November.

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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