The marijuana retail and cultivation phase continues to lead the pack with regard to capital raises and acquisition exercise.
Year-to-date, the sector has raised a complete of $three.2 billion and accomplished 48 M&A offers.
That compares with $1.55 billion and 17 offers for a similar interval final yr.
In addition, the variety of transactions involving personal corporations in 2019 as an general proportion continues to develop – 27% thus far this yr versus simply 11% in 2018.
This weekly collection from Marijuana Business Daily and Viridian Capital Advisors offers the newest knowledge on cannabis investment exercise and M&A, together with key takeaways, evaluation and tendencies based mostly on current market strikes.
The knowledge under, offered by Viridian Capital Advisors, is thru the week ended April 19.
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Top raises closed final week:
- Greenlane Holdings, a distributor of vapes and different cannabis-related merchandise, closed its Nasdaq IPO, elevating $102 million within the course of. The firm now trades beneath the ticker image GNLN.
- Zenabis, a Vancouver, British Columbia-based cannabis cultivator, closed an fairness providing of 28.7 million Canadian dollars ($21.three million). The proceeds will primarily be used to increase cultivation amenities.
- Village Farms International, a Canadian greenhouse grower with a 50% stake in cannabis enterprise Pure Sunfarms, closed a CA$20 million fairness providing, which can be used for working capital wants, together with for the corporate’s U.S. hemp operations.
Top M&A offers closed final week:
- Acreage Holdings (CSE: ACRG.U) purchased Portland-based Form Factory for $160 million. Form Factory is a marijuana-infused edibles producer and distributor.
- Cannabis One Holdings (CSE: CBIS) purchased sure belongings of privately owned Denver-based JBC Enterprises (dba Fat Face Farms).
- Canopy Growth (NYSE: CGC; TSX: WEED) closed its acquisition of Spanish cannabis cultivator Canamo Y Fibras. The Spanish firm, based mostly in Alicante, cultivates marijuana in a 1,600-square-foot facility and is licensed to produce hemp as nicely.
Viridian Capital Advisors is a monetary and strategic advisory agency that gives investment banking, M&A, company improvement and investor relations providers to rising progress corporations and certified buyers within the cannabis sector.