Marijuana Money: June 8, 2018
Marijuana Money Minute

The nation of Canada is on the precipice of a historic moment as the country’s legislature stands poised to pass cannabis legalization. On June 7, 2018, the Senate will hold a vote on Bill C-45, a measure legalizing recreational cannabis nationwide. If passed, Canada will become the first G7 nation to legalize cannabis for recreational purposes.

Aphria (APHQF) announced that it has entered into an agreement with Clarus Securities to raise $225 million on a “bought deal” basis, as it looks to expand its production facilities. An over-allotment option could lift the deal to C$258 million. The shares are being priced at C$11.85. The deal is expected to close on June 28.

The Green Organic Dutchman Holdings Ltd. (TGOD) is getting into the beverage businesses. On June 6, 2018, the company announced the official launch of its global division focused solely on the beverage industry, appropriately named The Green Organic Dutchman Beverage Division. Also, The Green Organic Dutchman Ltd. (TGODF) entered into an engagement letter with Canaccord Genuity Corp. to purchase 3,910,000 special warrantsof the company, on an bought deal basis. The price per special warrant is $6.40 generating an aggregate gross proceed of approximately C$25 million.

Organigram Holdings Inc.  (OGRMF) has taken a 40% stake in Canadian cannabinoid product company Eviana Health for C$10 million. In addition to that Organigram has signed a separate agreement with Eviana for five years to purchase up to 50% of the cannabidiol (“CBD”) production of Eviana.

Canopy Rivers said it is completing a reverse takeover with AIM2 Ventures and separately said it is raising $60 million ahead of an eventual public listing.  As part of the deal, Canopy will take over AIM2 Ventures, which trades on the TSX Venture Exchange under the ticker symbol “AIMB.P.” Canopy Rivers, which was formed just over a year ago on April 26, 2017, will use its investment and operating expertise to look for additional opportunities in the cannabis sector, the company said in a statement.

Also, MedMen Enterprises (MMEN)  is acquiring Treadwell Nursery in a $53 million deal where MedMen will receive a cultivation facility situated on 5 acres in Eustis, Florida and the right to open 25 medical marijuana dispensaries in the State of Florida.

Video Staff


Leave a Reply

Your email address will not be published.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

Get the latest cannabis news delivered right to your inbox

The Morning Rise

Unpack the industry with the daily cannabis newsletter for business leaders.

 Sign up


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

Get the latest cannabis news delivered right to your inbox

The Morning Rise

Unpack the industry with the daily cannabis newsletter for business leaders.