The Daily Hit: April 4, 2019

It’s time for your Daily Hit of cannabis financial news for April 4, 2019.

On the Site

Merida Capital

Cannabis private equity fund Merida Capital Partners has launched its third fund for $200 million, which will focus on concentrated, high conviction investments in leading companies in the cannabis ecosystem. The company said that since launching its first fund in late 2016, it has deployed nearly $80 million across its first two funds and now has more than $125MM under management.

McConnell & Wyden Pen Letters To US Federal Banking Finance Regulators Over Financial Services For Hemp Producers

The letters were sent to the U.S. Federal Deposit Insurance Corporation (FDIC), the Farm Credit Administration, the Federal Reserve System and the Office of the Comptroller of the Currency. The letters read as follows.

Marijuana Stocks Look Frothy, But Aurora Stock Is Well-Prepared

Over the long run, I remain net bullish on legal marijuana. However, my optimism for the sector doesn’t cloud reality. I can see as plain as daylight that the honeymoon phase is over. Now, companies like Aurora Cannabis (NYSE: ACB) must provide the goods. If not, ACB stock could face serious trouble.

In Other News

Harvest Health & Recreation

Harvest Health & Recreation, Inc. (CSE: HARV) announced that it has entered into a brokered private sale of up to 500,000 convertible debentures of the company, at a price of $1,000 per debenture. The sale is expected to raise $500 million and will be closed in five tranches over a period of no more than 18 months. The first tranche is expected to close on May 1, 2019. Proceeds from the sale will go towards general corporate purposes and working capital.

Halo Labs

The cannabis extraction company Halo Labs Inc. (OTC: AGEEF) announced that it has raised $18,143,000 in a convertible note offering. The proceeds of the offering will go towards leasehold improvements, the purchase of extraction equipment, working capital and general corporate purposes.

Aurora Cannabis

Aurora Cannabis Inc. (NYSE: ACB) announced that it has appointed Carey Squires as its Executive Vice President of Corporate Development and Strategy. Squires recently served as Managing Director and Co-Head of Equity-Linked Capital Markets for BMO Capital Markets. In his new role, Squires will focus on developing strategic partnerships, growth initiatives, and investor development.

William Sumner

William Sumner

William Sumner is a freelance writer specializing in the legal cannabis industry. You can follow William on Twitter @W_Sumner or on Medium.


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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


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