Over a billion dollars has been raised in the cannabis industry in 2016 according to Viridian Capital Advisors.
The billion dollar line was crossed last week in part with C$40 million raised by OrganiGram Holdings, Inc. The deal will allow for the build out and expansion of the company’s cultivation, extract and derivative facilities. In addition to that, Tetra Bio-Pharma, Inc., another Canadian deal got C$1 million in a private placement with Aphria Inc. to initiate clinical trials in PhytoPain Pharma.
Scott Greiper, President and founding partner of Viridian said that the billion dollars was mostly raised in North America, with minor amounts from other countries. He also stated that the Canadian market is a meaningful metric as to what the U.S. market could end up looking like in the future. Canadians had legalized medical marijuana years ago, but the program was slow to build. The election of Prime Minister Trudeau jump started efforts for the medical marijuana industry. [Read more at Forbes]
Your email address will not be published. Required fields are marked *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
Comment *
Notify me of follow-up comments by email.
Notify me of new posts by email.
Δ
The long-serving congressman from Portland, who has become the top marijuana advocate on Capitol Hill, believes the issue could boost President Biden’s support with young voters. As a 23-year-old serving…
A North Dakota ballot initiative group can gather signatures to put a proposal legalizing recreational marijuana to a statewide vote in the fall, the state’s top election official said Thursday, in the latest legalization…
Ohioans will likely be able to buy recreational marijuana as soon as mid-June, earlier than the timeline outlined by the initiated statute they voted to pass last fall, and existing…
A bill to increase the amount of marijuana a person can possess before facing stiff criminal penalties failed 15-9 in the Hawaii Senate on Monday. It was the second defeat…