Ohio-based hashish retailer Green Growth Brands has raised 85 million Canadian dollars ($65.6 million) in a personal placement – capital the agency will use to go public in Canada and broaden internationally.
The raise exceeded the agency’s preliminary goal of CA$55 million.
Increased investor curiosity fueled the increase, the corporate stated Tuesday.
Green Growth is a Columbus-based, retail-focused hashish agency that has constructed a portfolio of branded retail retailer ideas that embrace Green Lily, The Source, CAMP and Meri + Jayne.
Earlier this yr, Green Growth introduced plans to go public in Canada after a reverse takeover of Xanthic Biopharma, which is listed as XTHC.CN on the Canadian Securities Exchange.
Roughly $30.three million of the web proceeds from the personal placement might be loaned to Xanthic, and the rest might be used for working capital and potential acquisitions.