It’s time for your Daily Hit of cannabis financial news for September 20, 2018.
On The Site
MJ Freeway, the company which invented seed-to-sale technology and has the cannabis industry’s first enterprise resource planning product, completed a $10 million oversubscribed Series C financing. The round was led by Batu Capital Investments, a tech-focused multi-family office managed by Emery and Evan Huang. Cresco Capital Partners, a private equity investment firm dedicated to investing in the cannabis industry, also participated significantly.
In Other News
The Flowr Corporation
The Flowr Corporation and The Needle Capital Corp. announced the completion of the previously-announced qualifying transaction under the policies of the TSX Venture Exchange. According to the company statement, Needle, Flowr and 2652253 Ontario Inc. completed a reverse takeover of Needle by the shareholders of Flowr to ultimately form the resulting issuer. The transaction also provides for the exchange, into common shares the subscription receipts issued in connection with Flowr’s previously-announced $35,900,104 non-brokered private placement and brokered private placement co-led by Clarus Securities Inc. and Eight Capital.
Canopy Rivers Inc.
Canopy Rivers Inc. announced that at the opening of the market today, its voting shares would begin trading on the TSX Venture Exchange under the ticker symbol “RIV”. Canopy Rivers works collaboratively with Canopy Growth (CGC) to identify strategic counterparties seeking financial and/or operating support.
Auxly Cannabis Group Inc.
Auxly Cannabis (CBWTF) announced that, as part of the strategic alliance and streaming agreement previously announced on March 5, 2018, Auxly has completed a $7,500,000 equity investment in FSD Pharma Inc.
Aleafia Health Inc.
Aleafia Health Inc. (ALEAF) and Cronos Group Inc. (CRON) announced the commencement of a joint medical cannabis study to improve the management and treatment of insomnia and daytime sleepiness.
The study is funded in part by Peace Naturals Project Inc., a licensed producer of medical cannabis that is wholly owned by Cronos Group. The study will be led by physicians practicing within the Canabo Medical Clinic network, which is wholly owned by Aleafia.
Lift & Co.
Lift & Co. began trading under the new ticker symbol “LIFT” on the TSX Venture Exchange.