Category Archives: Sales, Funding & Banking News

Marijuana firm Cresco Labs posts $3.9 million net income in third quarter

Chicago-based Cresco Labs posted $3.9 million in net income in its fiscal third quarter, reversing its year-ago loss of $200,000. The multistate cannabis operator saw revenues spike 335% in the quarter to $12.2 million compared to the same period in 2017. Year-to-date revenue was up nearly 250% to $25.1 million. Since the beginning of the year, […]

Bolstered cannabis sales, new stores boost Green Thumb’s Q3 revenue 344%

New store openings and a big boost in organic sales sent Chicago-based Green Thumb Industries’ third-quarter revenues soaring 344% – to $17.2 million – compared to the same period a year ago. The firm, which trades on the Canadian Securities Exchange under the ticker symbol GTII, reported revenue gains of 26% from the second quarter, […]

Multistate marijuana firm Cura Partners inks $75 million private placement

Oregon-based Cura Partners, a multistate cannabis firm, has completed a $75 million private placement. The capital will be used for product development, marketing and expanding operational infrastructure, the company said. The raise included investments from institutional investors in North America, Asia, Australia and the United Kingdom, “reflecting increasing global interest in the cannabis industry,” Cura […]

Marijuana firm MedMen scales back financing, appoints interim CFO

MedMen Enterprises is slashing its latest funding round as the firm’s stock tumbles and the California cannabis company hunts for a new chief financial officer. The multistate cannabis firm revealed Friday that CFO James Parker resigned. The company appointed Jim Miller, vice president of accounting, as interim CFO while the firm searches for a replacement […]

Leading US marijuana firms list shares on Canadian stock exchange

Three top American cannabis firms made their trading debuts on the Canadian Securities Exchange (CSE) this week, continuing the frenzy of U.S.-based marijuana companies turning to Canada’s public markets to raise capital. Here’s a quick rundown of what investors need to know: Multistate cannabis operator Acreage Holdings listed its shares under the ticker symbol ACRG.U after […]

Chart: Colorado on pace for record-setting, billion-dollar year of recreational cannabis sales

Colorado’s adult-use marijuana market continues to surge nearly five years after the launch of recreational sales in the state. Through August 2018 – the most recent data available from the Colorado Department of Revenue – recreational marijuana sales topped $800 million and is on pace to surpass $1.2 billion by the end of the year. […]

Medical marijuana firm Surterra raises $54.6 million of $165.5 million goal

Surterra Wellness, an Atlanta-based medical marijuana company, has raised nearly $55 million as part of a funding round that ultimately aims to drum up $165.5 million. The $54.6 million raise – comprised of debt and options or warrants – included investments from 17 accredited investors, according to filings with the U.S. Securities and Exchange Commission. Company […]

Marijuana vape firm Pax Labs raises $20M but seeks to avoid VC dependence

San Francisco-based Pax Labs has closed a $20 million funding round, Bloomberg reported. CEO Bharat Vasan told the news outlet that the company wanted to keep the investment small to “avoid becoming overly dependent on venture capital.” Launched by the founders of e-cigarette maker Juul, Pax Labs vaporizers allow users to control the device with […]

Colorado cannabis biotech snags $10 million for expansion

Marijuana biotech firm Front Range Biosciences announced Thursday it secured $10 million in private funding to accelerate production in California, Canada and Colorado. The company, based in Lafayette, Colorado, said it plans to invest some of the money in investigating new strains of cannabis. Front Range Biosciences uses tissue-culture technology to make “plantlets” for both […]

IHeartMedia to invest up to $10 million in marijuana publisher High Times

The nation’s largest radio broadcaster, IHeartMedia, has agreed to invest up to $10 million in the publisher of High Times magazine, giving the marijuana company access to the media firm’s digital and radio advertising platforms. Under the deal, IHeart will commit $5 million-$10 million worth of advertising on the internet and radio – platforms High […]