Canadian cannabis companies ink deals for nearly CA$1B in funding in 10 days

Capital is pouring into the Canadian marijuana sector quicker than ever, as companies put together for the nation’s anticipated adult-use legalization this summer time and bulk up for worldwide enlargement.

Through the primary 10 days of 2018, companies closed on quite a lot of funding deals or introduced financing plans value at the very least 978 million Canadian dollars ($780 million), based on a Marijuana Business Daily evaluation.

That quantity roughly matches the CA$960 million raised in the primary seven months of 2017.

“Canadian cannabis executives are realizing this is probably the last time before legalization when they can sell their shares for two, three or even four times what they were just a few months ago,” stated Chris Damas, editor of the Barrie, Ontario-based BCMI Cannabis Report.

Toronto-based Beacon Securities analyst Vahan Ajamian stated, “We are definitely seeing heightened investor enthusiasm for the sector over the past few weeks – and companies are tapping into it to finance expansion plans and build war chests.”

Below are the securities gross sales introduced through the first 10 days of 2018:

  • WeedMD (TSX Venture: WMD) closed a inventory sale that may increase CA$34.5 million.
  • Canopy Rivers (subsidiary of WEED) closed a personal placement of inventory totaling roughly CA$26 million.
  • Organigram (TSX Venture: OGI) organized a securities sale to boost CA$100 million.
  • Nutritional High International (CSE: EAT) organized a personal placement of securities to boost CA$10 million.
  • MedReleaf (TSE: LEAF) inked a inventory transaction to boost CA$132.7 million.
  • DOJA Cannabis Company (CSE: DOJA) closed a personal placement of securities value CA$12.5 million.
  • Emerald Health Therapeutics (TSXV: EMH) closed a inventory sale totaling CA$15 million.
  • Maricann Group (CSE: MARI) accomplished a CA$40 million personal placement inventory providing.
  • Harvest One Cannabis (TSX Venture: HVST) introduced a plans to boost CA$40.2 million.
  • Hydropothecary (TSX Venture: TCHX) inked a inventory sale settlement to boost CA$130 million.
  • Aurora Cannabis (TSE: ACB) plans to boost as much as CA$230 million by means of a securities providing.
  • Golden Leaf Holdings (CSE: GLH) entered right into a inventory sale to boost CA$15.03 million.
  • Liberty Health Sciences (CSE: LHS) struck a deal to boost CA$23 million by way of the sale of its securities.
  • InMed Pharmaceuticals (CSE: IN) closed a personal placement of securities totaling CA$9.four million.
  • Aphria (TSE: APH) closed a inventory sale totaling CA$115 million.
  • Quadron Cannatech (CSE: QCC) goals to boost CA$5 million by means of a securities sale.
  • Cronos Group (TSX Venture: MJN) elevated the dimensions of its inventory sale to roughly CA$40 million.

Matt Lamers may be reached at [email protected]

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Categories: Briefs, Canada Marijuana News, Dispensary/Retail Store Business News, Marijuana Cultivation





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