The marijuana retail and cultivation segment continues to lead the pack with regard to capital raises and acquisition activity.
Year-to-date, the sector has raised a total of $three.two billion and completed 48 M&A bargains.
That compares with $1.55 billion and 17 bargains for the identical period final year.
In addition, the quantity of transactions involving private businesses in 2019 as an general percentage continues to develop – 27% so far this year versus just 11% in 2018.
This weekly series from Marijuana Small business Day-to-day and Viridian Capital Advisors offers the most recent information on cannabis investment activity and M&A, along with important takeaways, evaluation and trends primarily based on current industry moves.
The information under, supplied by Viridian Capital Advisors, is by means of the week ended April 19.
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Best raises closed final week:
- Greenlane Holdings, a distributor of vapes and other cannabis-associated items, closed its Nasdaq IPO, raising $102 million in the method. The business now trades below the ticker symbol GNLN.
- Zenabis, a Vancouver, British Columbia-primarily based cannabis cultivator, closed an equity providing of 28.7 million Canadian dollars ($21.three million). The proceeds will mostly be applied to expand cultivation facilities.
- Village Farms International, a Canadian greenhouse grower with a 50% stake in cannabis enterprise Pure Sunfarms, closed a CA$20 million equity providing, which will be applied for operating capital desires, like for the company’s U.S. hemp operations.
Best M&A bargains closed final week:
- Acreage Holdings (CSE: ACRG.U) purchased Portland-primarily based Type Factory for $160 million. Type Factory is a marijuana-infused edibles producer and distributor.
- Cannabis One particular Holdings (CSE: CBIS) purchased particular assets of privately owned Denver-primarily based JBC Enterprises (dba Fat Face Farms).
- Canopy Development (NYSE: CGC TSX: WEED) closed its acquisition of Spanish cannabis cultivator Canamo Y Fibras. The Spanish business, primarily based in Alicante, cultivates marijuana in a 1,600-square-foot facility and is licensed to generate hemp as nicely.
Viridian Capital Advisors is a monetary and strategic advisory firm that offers investment banking, M&A, corporate improvement and investor relations solutions to emerging development businesses and certified investors in the cannabis sector.