Pennsylvania-based Intrinsic Capital Partners said it raised $102 million in a fund that will invest in science and technology businesses focused on the legal marijuana and hemp industries. “We believe this is . . . a rare opportunity to invest in a sp…
Marijuana Sales, Funding & Banking News
Retail marijuana sales take a slight downturn in Colorado
Retail cannabis sales had been on a steady upward trend month-on-month in Colorado despite the coronavirus pandemic, but that momentum backslid in August. According to CPR News, the Colorado Department of Revenue’s numbers show consumers spent $2…
Group inks $182.8M of cannabis deals in bid to become publicly traded REIT
A New York-based limited partnership said it has entered binding agreements to acquire 15 marijuana-related properties in nine states for $182.8 million with the intention of becoming a leader in the cannabis real estate investment trust (REIT) sector….
Green Thumb’s sale-leaseback cannabis deal in Ohio valued at $32.2M
Marijuana multistate operator Green Thumb Industries announced an amended sale-leaseback deal valued at up to $32.2 million for a facility in Ohio, reflecting a further loosening of capital – especially for expansion in fast-growing markets. The …
Schwazze backs out of deal to acquire marijuana R&D firm MedPharm
Denver-based Schwazze said it has terminated its planned acquisition of MedPharm, a medical marijuana company in the same city that landed Colorado’s first cannabis research and development license. Schwazze said earlier this year it had moved fo…
Cannabis MSO Acreage raises $33M, partly to pay off higher-interest debt
Multistate marijuana operator Acreage Holdings said it raised $33 million in debt, a development that shows an easing of a credit crunch facing the company. The three-year loan with an unidentified institutional lender is unsecured and at a 7.5% annual…
Democrats’ COVID-19 relief bill contains cannabis banking
Buried deep in the U.S. House Democrats’ latest $2.2 trillion coronavirus relief package, announced Monday, is a key provision that will delight cannabis businesses: the Secure and Fair Enforcement Banking (SAFE) Act. According to NORML, the main…
Cannabis firm WeedMD borrows CA$30M from Canadian pension fund
Canadian cannabis grower WeedMD secured a loan worth 30 million Canadian dollars ($22.5 million) from the LiUNA Pension Fund of Central and Eastern Canada, a retirement plan associated with the Laborers’ International Union of North America. R…
4Front closes on sale of three Maryland medical marijuana dispensaries
Multistate cannabis operator 4Front Ventures said it has completed the sale of three medical marijuana dispensaries in Maryland for $5.5 million, as the Arizona-based company shifts its focus to adult-use markets such as in Illinois. Philadelphia-based…