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 exact same period final year.
In addition, the quantity of transactions involving private organizations in 2019 as an general percentage continues to develop – 27% so far this year versus just 11% in 2018.
This weekly series from Marijuana Business enterprise Everyday and Viridian Capital Advisors delivers the most up-to-date information on cannabis investment activity and M&A, along with crucial takeaways, evaluation and trends primarily based on current market place moves.
The information beneath, supplied by Viridian Capital Advisors, is by way 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 enterprise now trades below the ticker symbol GNLN.
- Zenabis, a Vancouver, British Columbia-primarily based cannabis cultivator, closed an equity supplying of 28.7 million Canadian dollars ($21.three million). The proceeds will mostly be made use of to expand cultivation facilities.
- Village Farms International, a Canadian greenhouse grower with a 50% stake in cannabis business enterprise Pure Sunfarms, closed a CA$20 million equity supplying, which will be made use of for operating capital requirements, which includes 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 1 Holdings (CSE: CBIS) purchased specific 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 enterprise, primarily based in Alicante, cultivates marijuana in a 1,600-square-foot facility and is licensed to make hemp as properly.
Viridian Capital Advisors is a economic and strategic advisory firm that delivers investment banking, M&A, corporate improvement and investor relations solutions to emerging development organizations and certified investors in the cannabis sector.