skip to Main Content
U.S. Marijuana Companies Go Public in Canada

Green Thumb Industries had a business plan, expertise and plenty of ambition to grow its marijuana business. What the Chicago-based company didn’t have was access to enough capital to make it all happen.

So last month, the company with $20 million in revenue from pot shops in seven states turned its gaze north and went public in Canada, where marijuana soon will be broadly legalized nationwide.

The Canadian Securities Exchange is quickly becoming the go-to place for U.S. cannabis companies orphaned by their own stock exchanges because the U.S. government still considers marijuana an illegal drug.

Green Thumb took over a publicly traded Canadian company, added an “Inc.” to its name and went public. The company raised $67 million U.S. dollars, money that will allow Green Thumb to get licenses in new states and open more retail stores across America.

“The phone rings more, we’re talking to more people, and business has expanded,” company founder Ben Kovler said. “We’re just excited about what’s happening.” [Read more at PBS]

This Post Has 0 Comments

Leave a Reply

Your email address will not be published.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

Recent Stories

What Must Be Done To Enact Germany’s New Cannabis Law And What Will Its Adult-Use Market Look Like?

With Germany’s Government-in-waiting set to deliver adult-use cannabis, BusinessCann explores the delivery challenges and how the legislation may be shaped. BACK in 2015 the German Green Party published its Cannabis Control Act (CCA). Although it made no progress in the Bundestag at the time, it is now emerging as the blueprint for the creation of…

ESG and Cannabis is No Easy Task Right Now

by Hilary Bricken, Principal Harris Bricken Socially responsible and “sustainable” investing is picking up in popularity across retail and institutional investors alike. According to Wikipedia, “[i]n less than 20 years, the ESG movement has grown from a corporate social responsibility initiative launched by the United Nations into a global phenomenon representing more than US$30 trillion…

Who Needs a License? New York Weed Dispensaries Are Already Opening

Stores that offer recreational marijuana might not be entirely legal yet, but entrepreneurs are ready to start righting the wrongs of the war on drugs list prices, per se, but “Suggested Donations,” starting at $20. The packages offered in return are thank you “gifts.” “We don’t sell anything,” says one register operator at Uncle Budd’s…

Germany’s incoming government unveils plans to legalize cannabis

Three German political parties have sealed a deal for a new government, with left-leaning Olaf Scholz the proposed next chancellor following lengthy coalition negotiations and a historic election that sees Angela Merkel stepping down after 16 years at the helm. The incoming government’s vision for Germany includes plans to legalize cannabis. It also aims to…

More Categories

Back To Top
×Close search
Search