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ICYMI: UPTICK IN CAPITAL RAISES IN US CANNABIS

For the first time the US topped Canada in active marijuana M&A

June saw much interest and general activity in the global cannabis investment space.

With so much market watching happening, it’s easy to miss the good stuff when it comes up. And moreover, it’s good to check in with what’s been happening in the different financing raises and M+A activity across the industry from trusted sources.

Which is why the crackerjack team of cannabis business reporters and data-crunchers at Marijuana Business Daily teamed up with Viridian Capital Advisors, a financial and strategic advisory firm in the cannabis sector. Together they provided some insight on the state of cannabis capital activity in the US. And things are looking up.

Scott Greiper, president of Viridian Capital, noted to MJBizDaily in their Investor Intelligence webcast that “the first quarter of this year was the first time the United States topped Canada as the most active target region for marijuana M&A.”

As per MJBizDaily:

“Top raises closed last week:

  • Trulieve, which is the market leader in dispensary operations in Florida, closed a $70 million debt capital raise with net proceeds from the offering to be used for capital expenditures, acquisitions, indebtedness repayment and for general corporate purposes.
  • MediPharm Labs, a Canadian infused product manufacturer, raised 75 million Canadian dollars ($56 million) in a share offering. Net proceeds from the offering will be used to fund ongoing capital expenditures at the company’s Canadian and Australian facilities, for domestic and international expansions, research and development and general corporate purposes.”
Graph via Viridian Capital and MJBizDaily

For the full story and details on top M&A transaction and deals from the end of June, head here.

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