This weekly collection from Marijuana Business Daily and Viridian Capital Advisors offers the newest knowledge on cannabis funding activity and M&A, together with key takeaways, evaluation and developments based mostly on current market strikes.
The knowledge under, offered by Viridian Capital Advisors, is thru the week ended March 1.
Among the highest takeaways: M&A activity this yr is outpacing the variety of offers closed this time final yr.
Through March 1, 66 M&A offers have been inked in contrast with 44 throughout the identical interval final yr.
Cultivators and retailers proceed to be prime takeover targets with almost 30 offers closed this yr, in accordance with Viridian knowledge.
Top capital raises prior to now week:
- Canopy Rivers (OTC: CNPOF) closed a purchased deal financing and personal placement, elevating 93.5 million Canadian dollars ($69.eight million) – capital the Toronto-based agency stated it plans to make use of to increase its footprint.
- Khiron Life Sciences Corp., an built-in medical cannabis firm with core operations in Colombia, closed a CA$28.2 million purchased deal financing.
Top M&A offers prior to now week:
- Cannabis big Tilray (Nasdaq: TLRY) expanded into the pure meals class with the acquisition of hemp meals firm Manitoba Harvest for CA $419 million in money and inventory.
- 4Front Holdings, a U.S. cannabis retail and model firm based mostly in Phoenix, expanded its nationwide footprint with acquisitions in Arizona and Massachusetts. 4Front acquired Healthy Farms, which has two dispensaries and a cultivation facility in Massachusetts, and PHX Interactive, proprietor of Greens Goddess in Phoenix, a holder of a vertically built-in license. Financial particulars of the offers weren’t disclosed.
Viridian Capital Advisors is a monetary and strategic advisory agency that gives funding banking, M&A, company improvement and investor relations providers to rising progress corporations and certified buyers within the cannabis sector.