The U.S. now has 22 states that have legalized medical marijuana, 16 that have approved the usage of CBD and THC products and eight that have legalized recreational cannabis use. Marijuana use in Canada is generally legalized, and there is a total of 105 authorized licensed producers (LPs), with eight provinces allowing homegrown cannabis. In a recent report, JGR Capital, a New York-based equity research firm, highlighted the largest single U.S. cannabis company listed on the Canadian exchange, plus four cannabis-related companies that have raised capital.
Los Angeles-based cannabis producer MM Enterprises, now renamed MedMen Enterprises (CSE: MMEN) following a reverse merger, is the largest U.S. cannabis company listed on the Canadian Securities Exchange. The company’s short position in cannabis-related stocks reached a record high of over 200 million shares. Through a private placement, the company has raised C$143 million, placing the value of the organization at C$2.14 billion ($1.65 billion).
Emerald Health Therapeutics (OTCQX: EMHTF) recently announced that it closed the sale of four million share units for gross proceeds of C$16.80 million (~$13.04 million). Net proceeds will go toward further development of projects in Las Vegas, Washington State and California.
Speakeasy Cannabis Club (OTC: SPBBF) recently closed the first tranche of its non-brokered private placement of 4.9 million units, bringing in gross proceeds of C$4.90 million (~$3.80 million). The proceeds of this private placement will go toward general working capital.
Village Farms Internationals (OTCQX: VFFIF) completed a private placement of company shares for gross proceeds of approximately C$10 million (~$7.76 million). Net proceeds from this offering will be used to contribute capital, if required, to Pure Sunfarms, as well as general working capital purposes. Pure Sunfarms is a 50 percent-owned JV with Emerald Health Therapeutics, and it is currently increasing commercial production at its 1.1 million sq. ft. greenhouse.
For more information, view the complete JGR Capital report at http://ibn.fm/CT5zg
