Canadian cannabis companies are on a fundraising spree. New York-based Viridian Capital Advisors has reported, that Canadian cannabis industry has got $2b as investment following the announcement of legalization processes.
The capital raised through 189 transactions will be used for cultivation, retail, and deal-making.
The capital exceeds by a significant margin than the US$937.4 million raised by the entire global legalized cannabis industry at this point of 2016.
Harrison Phillips, vice-president at Viridian said the adult use of Cannabis will exceed the medical market in next few years.
“While the medical market is expected to continue to grow over the next several years, the size of the coming adult-use market is expected to far exceed that of the medical side,”– he said.
The US$1.5775 billion raised in Canada also makes up more than half of the raised money tracked by Viridian this year in the legalized industry, which was a total of US$2.696 billion via 366 transactions.
“Companies have been raising significant amounts of capital, primarily to increase capacity to satisfy the coming surge in expected demand.” — he added.
READ FULL ARTICLE
Read More
Canadian cannabis companies get $2 Billion Investment, 2 times more than the entire global legalized cannabis industry
