Canadian cannabis firms ink deals for CA$880 million in funding in 14 days

As Canada’s politicians duke it out over the ultimate model of the cannabis legalization invoice, licensed producers have introduced a windfall of financing to construct out home capability and faucet abroad alternatives.

Since early June, corporations introduced plans or closed on funding deals value no less than 880 million Canadian dollars ($671 million), in response to a Marijuana Business Daily evaluation.

Chris Damas, editor of Barrie, Ontario-based BCMI Cannabis Report, stated regardless of the uncertainty of how leisure cannabis gross sales will unfold this fall, buyers are prepared to pump cash into quite a lot of corporations, be it senior gamers, similar to Aphria, or smaller ones, due to the potential for excessive reward.

“In our view, many of the junior issues being floated will not make money and will lose money for investors,” he stated. “But there are a few gems in the rough.”

Here are a few of the choices introduced in the primary two weeks of June:

  • Canopy Growth (Toronto Stock Exchange: WEED) introduced a CA$400 million convertible notice providing.
  • Aphria (TSE: APH) inked a inventory sale settlement to boost CA$225 million.
  • The Green Organic Dutchman (TSE: TGOD) introduced a inventory transaction to boost CA$25 million.
  • Beleave (Canada Securities Exchange: BE) organized a personal placement of securities to boost CA$5 million.
  • Good & Green organized a personal placement of securities to boost CA$10 million.
  • Auxly Cannabis Group, previously Cannabis Wheaton, closed a inventory sale that may increase CA$115 million.
  • CannTrust Holdings (TSE: TRST) raised CA$100 million in a inventory sale.

Matt Lamers may be reached at [email protected]

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Categories: Briefs, Canada Marijuana News, International Marijuana Business News, Marijuana Stocks & Public Companies


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