Cannabis Capital Raises in the U.S. – October 16th-31st, 2024
Several interesting transactions closed in the Cannabis sector over the past two weeks. If you would like more info on these deals or would like to discuss the capital raising market for your company, please contact me.
PIPE
1. Rapid Dose Therapeutics, company revolutionizing drug delivery through innovation received CAD 851,000 of development capital through a private placement. The company intends to use the proceeds from the financing for debt retirement, research and development, capital expansion and working capital purposes.
2. Lexaria Bioscience, a company with patented drug delivery technology received $5 million of development capital through a private placement. The company intends to use the net proceeds from the offering for working capital and other general corporate purposes.
Merger/Acquisition and Corporate
3. Nova Cannabis, engaged in the operation of retail cannabis stores in Canada became fully owned by SNDL after the company acquired an additional 34.8% stake for CAD 40 million. The acquisition helps SNDL to enhance programming, expand data programs, advance staff training initiatives, and optimize inventory management.
4. Port North Extracts, operator of a cannabis extract brand based in Port Elgin, Canada was acquired by Justera Health for $2.2 million. This acquisition is an important step in expanding Justera Health product offerings and strengthening position in the cannabis industry.
5. Port North Extracts, operator of a cannabis extract brand based in Port Elgin, Canada received CAD 600,000 of development capital.
6. AgMedica Bioscience, producer of medical cannabis and cannabis-derived products designed to meet the purpose of health and wellness was acquired by Decibel Cannabis Company. This acquisition gives Decibel Cannabis Company better access to export markets.
7. GreenSeal Cannabis, producer of licensed cannabis products based in Stratford, Canada was acquired by Decibel Cannabis Company.
#castleplacement #capitalraising #privateequity #venturecapital #investment #Cannabis
Please contact me if you have any questions or would like to discuss your capital raise:
Email: druddy@castleplacement.com
(C) (406) 868-3218
Sources: Information on this page was derived from a variety of sources including Bloomberg, Company Websites, Crunchbase, PitchBook and other news outlets. Castle Placement™ does not warrant or guarantee this information, nor makes any representations as to the accuracy of the information. For more Risks, see CPGO Risks and Disclaimers.
