skip to Main Content
Over $1 Billion Raised by Cannabis Industry in 2016

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]

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Stories

CDTFA Cannabis Creditor: Myths and Truths

By Hilary Bricken, Attorney at Husch Blackwell Dealing with creditors is never a fun experience. However, some creditors are more severe than others, especially in the cannabis industry. One of…

If FL Supreme Court approves cannabis ballot language, will voters go for recreational weed or not?

The long wait on whether Floridians will get a chance to vote to legalize recreational cannabis for adults 21 and older is almost over, as the Florida Supreme Court is…

Missouri strips marijuana licenses connected to company accused of predatory behavior

Missouri’s health department on Wednesday stripped two coveted marijuana micro-licenses tied to an out-of-state company that had been accused of predatory practices and had listed the licenses for resale. The…

Dug In: Big Island Grown’s Deep Cannabis Roots

Big Island Grown (BIG) is a vertically integrated cannabis company based in Kailua-Kona, Hawaii County, on the Big Island of Hawaii, whose reach now extends to several islands in the…

More Categories

Back To Top
×Close search
Search