The Daily Hit: October 29, 2018

It’s time for your Daily Hit of cannabis financial news for October 29, 2018.

On the Site

Curaleaf

Massachusetts-based Curaleaf Inc. will begin trading on the Canadian Securities Exchange using the symbol CURA on Monday, October 29. The company is expecting to price its shares at C$11.45 and had an initial valuation of C$4 billion. It is the fastest growing U.S. cannabis company with the largest retail footprint under one brand.

Snoop Dogg’s Casa Verde, Tiger Global Invests Millions into Seed-to-Sale Software

Metrc announced its first outside round of funding in the form of $50 million from Tiger Global Management and Casa Verde Ventures, the 3-year-old, cannabis-focused venture firm co-founded by notorious cannabis enthusiast and investor Snoop Dogg, but managed largely by Goldman Sachs and Nomura Securities alum Karan Wadhera.

The Case For Investing In U.S. Multi-state Cannabis Operators

Cannabis investing specialist and attorney David Wenger tells Green Market Report why he thinks multi-state vertically structured cannabis operators are a good place for investors. Wenger is the author of The Green Regulatory Arbitrage: A Case For Investing In U.S. Multi-state Vertically-Integrated Cannabis Companies, which is available for download here.

In Other News

HelloMD

The Canadian telehealth cannabis company, HelloMD, announced today that it would expand its white-label services to licensed cannabis producers and clinics. The company’s turnkey services can be launched in less than a day and offer a number of services; including online doctor consultations, education and registration services, and content solutions. Recently, the company has partnered with The Flowr Corporation (FLWR) to offer its services to Flowr customers. “Flowr believes in easy access to cannabis for those who can benefit from its medicinal qualities and making the HelloMD platform available through our website gives clients convenient, discreet access to healthcare professionals at the time and place of their choosing,” said Dr. Lyle Oberg, Flowr Chief Policy and Medical Officer.

WAYV

WAYV, a company aimed at assisting cannabis companies in gaining access to licensed cannabis brands, announced a $5 million seed round led by Craft Ventures, an investment fund created by entrepreneur David Sacks. The proceeds from the seed round will go towards hiring critical resources and strengthening its supply chain. “As California moves to a regulated and licensed system, there is a long tail of retailers and brands in the industry that need to be connected. The WAYV marketplace provides this critical bridge,” said Sacks in a statement.

CannTrust Holdings Inc.

CannTrust Holdings Inc. announced that is has entered into a partnership with Cannatrek Ltd., a licensed medical cannabis producer in Australia. Under the partnership, CannaTrust will make a CAD$6 million investment in Cannatrek in exchange for a 19.8% stake in the company; with the option to maintain this stake through future issuances of stocks. “We will continue to invest in strategic alliances with well-positioned business partners to maintain our position as a front-runner in the cannabis industry both in Canada and globally,” commented CannTrust CEO, Peter Aceto.

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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