It’s time for your Daily Hit of cannabis financial news for January 31, 2019.
On The Site
Organigram Holdings Inc. (OTCQX: OGRMF) has surpassed making one million cannabis pre-rolls since the legalization of adult use recreational cannabis in October 2018. The company said that it credits the automation of its processes along with surging consumer demand for the success of its large-scale production.
In Other News
NorCal Cannabis, one of the largest vertically integrated cannabis operators in California, announced that it has closed a $27.4 million round of Series A financing. The round formally closed on December 1, 2018, bringing the total amount raised by the company to $50 million since inception in 2015. NorCal plans to deploy this capital to increase production and manufacturing at its leading-edge Santa Rosa campus, expand its statewide delivery platform and increase its retail and customer-facing footprint. With this raise, the Company is also paving the way for a potential 2019 public listing. Lead investors include Cannabis Growth Opportunity Corporation (CGOC), JM10 Partners and Cresco Capital.
The Supreme Cannabis Company, Inc. (TSXV: FIRE) (OTCQX: SPRWF) said that its listed securities are expected to begin trading on the Toronto Stock Exchange on February 4, 2019. At that time, Supreme Cannabis’ common shares and 6.0% senior unsecured convertible debentures due 2021 will be voluntarily delisted from the TSX Venture Exchange and will commence trading on the TSX under the symbols “FIRE” and “FIRE.DB”, respectively.