Cronos Group
Canadian marijuana producers have bankrolled more than enough capacity to meet rec demand
If a recreational marijuana shortage materializes in Canada come 2019 – as most industry observers predict – don’t blame Health Canada, which more than doubled the number of production licenses it granted in 2017.
Instead, look to regional supply imbalances – possibly in provinces that opt to sell adult-use cannabis through government-run retail outlets – and producers who fail to live up to their cultivation targets.
Cronos increased financing deal to secure CA$40M for marijuana R&D
A Canadian medical marijuana producer announced a stock-purchase deal to raise 40 million Canadian dollars ($32 million) in capital, which it intends to apply to research and development.
After the deal closes later this month, Cronos will have raised more than CA$130 million since the beginning of 2017, including CA$40 million in debt.
Cronos Group raises CA$17 million to fund R&D, boost marijuana production
Cronos Group has closed a stock deal that raised 17.2 million Canadian dollars ($13.5 million) to fund research and development, expand Canadian cannabis production capacity and develop distribution infrastructure.
