Over $60 million in capital raises closed this week on top of 3 closed M&A transactions and several other prominent announcements.
Summary for the Week Ended February 24, 2017
- Announcements: 17
- Capital Raises: 6
- M&A Transactions: 5
- Capital Raise and M&A: 2
- Capital Raise and Going-Public Transaction: 1
- Joint Venture: 1
- New Cannabis Fund: 1
- Stock Listings: 1
- Year-over-Year:
- Capital Raises: 3 capital raises closed this week for a total of $62.9 million ($21.0 million average) compared to 6 raises closed for a total of $6.5 million ($1.1 million average) this week last year.
- M&A Transactions: 3 deals were closed this week compared to 3 deals closed this week last year.
- We have tracked over $185 million in capital raises closed by cannabis companies year-to-date, over $100 million of which was raised by the Cultivation & Retail sector.
Capital Raises
- Aphria, Inc. (TSXV: APH) closed a bought deal financing of C$57.5 million expected to be used for facility expansion and for strategic investments.
- Harvest One Capital Corp. (TSXV: WON.H) closed a C$25.0 million private placement to be used to finalize the acquisition of United Greeneries Holdings Ltd. and Satipharm AG to bring both companies public.
- New Maple Holdings Ltd., the parent company of Canwe Growers, Inc., raised C$25,000 as part of a strategic subscription agreement from Alliance Growers Corp. (CSE: ACG) for up to C$375,000.
Week Ended 2.24.17 – Capital Raises by Sector
Mergers & Acquisitions
- MYM Nutraceuticals, Inc. (CSE: MYM) completed its acquisition of a majority interest in Sublime Culture, Inc., an inspection-stage applicant to become a licensed producer of medical cannabis in Canada.
- Marapharm Ventures, Inc. (CSE: MDM) acquired 80% of Moringa Cooperative, Inc., a California-based delivery service facilitating and coordinating cannabis transactions between qualified patients and caregivers.
- ML Capital Group, Inc. (OTCPink: MLCG) acquired a 25% stake in Colorado Highlife Tours, a leading provider of cannabis tours for adults in Colroado.
Week Ended 2.24.17 – M&A Deals by Sector
Summary of Year-to-Date (YTD) Transactions
Capital Raises
- We have tracked 49 capital raises totaling $187.2 million.
- Public versus Private:
- Public companies: 33 raises totaling $173.4 million
- Private companies: 16 raises totaling $13.8 million
- Equity versus Debt:
- Equity: 37 raises totaling $165.2 million
- Debt: 12 raises totaling $22.0 million
YTD Capital Raises by Week
YTD Capital Raises by Sector
Mergers & Acquisitions
- We have tracked 26 M&A transactions.
- 23 deals by public companies
- 3 deals by private companies
- Canadian companies continue to acquire assets in U.S. cannabis markets.
- M&A activity in Agriculture Technology sector points to continued development and implementation of more advanced growing technologies as cultivators seek to maximize efficiency and to lower costs amid pricing pressure.
YTD M&A Deals by Week
YTD M&A Deals by Sector
Transactions by Sector for Week Ended February 24, 2017
Capital Raises
Agriculture Technology
Future Farm Subsidiary to Manage Cannabis Oil Extraction Facility, Also Announces C$1,000,000 Non-Brokered Private Placement
Consumption Devices
Cannabis Tech Firm Raises Stakes in January Funding
Namaste Announces Increase in Bought Deal to C$7.5 Million
Cultivation & Retail
Aphria Announces Closing of Bought Deal Financing
Investments/M&A
Green Acre Capital Fund Secures Lead Order for Cannabis Investments
Mergers & Acquisitions
Cultivation & Retail
MYM Closes Acquisition of Majority Interest in Inspection-Stage Licensed Producer Application
Infused Products & Extracts
Vinergy Resources/MJ BioPharma to Acquire 65% of Health Canada and FDA Licensed Laboratory to Pursue Drug Testing and Dosage of CBDs, THC, and Terpenes
Investments/M&A
Marapharm Ventures Inc. Announces an Acquisition in California
Invictus MD Announces Definitive Option Agreement with Late Stage Applicant Under the ACMPR
Capital Raise and M&A
Consumption Devices
Namaste to Acquire Australian Vaporizers and Announces C$6.0 Million Bought Deal Financing
Cultivation & Retail
Alliance Growers Agrees to Acquire Interest in Licensed Cannabis Producer Applicant Canwe Growers, Inc.
Joint Venture
Miscellaneous Ancillary
Digipath, Inc. Enters into Joint Venture Agreement with Strategic Investor*
New Cannabis Fund
Investments/M&A
An Investment Company is Making Plans to Launch What Could be the First Exchange-Traded Fund to Profit on Marijuana
Stock Listings
Investments/M&A
CannaRoyalty to Begin Trading Today on OTCQB Marketplace
To Learn More About the Viridian CANNABIS DEAL TRACKER Contact:
Harrison Phillips
Viridian Capital Advisors, LLC
(212) 209-3086
[email protected]
* Viridian Capital Advisors and its affiliates, as well as their respective partners, directors, shareholders, and employees may have a position in the securities mentioned herein and may make purchases and/or sales from time to time. Viridian Capital Advisors, may act, or may have acted in the past, as a financial advisor, fiscal agent, or underwriter for certain of the companies mentioned herein and may receive, or may have received, a remuneration for their services from those companies.
About the Viridian CANNABIS DEAL TRACKER
The Viridian CANNABIS DEAL TRACKER monitors capital raise, mergers & acquisition, joint venture, and licensing activity for both public and private companies in the legal cannabis industry across 12 key sectors, including Agriculture Technology, Biotech/Pharma, Consulting Services, Consumption Devices, Cultivation & Retail, Hemp, Investments/M&A (Holding Companies), Infused Products & Extracts, Miscellaneous Ancillary, Physical Security, Real Estate, and Software/Media.
Leveraging more than 3 years of data that’s been collected, segmented, and analyzed, the CANNABIS DEAL TRACKER supports smart decision-making by providing sector-specific actionable intelligence and trend analysis in regard to issuers, investors, acquirers, valuations, deal structures, and deal terms.
The above information whether in part or in its entirety neither constitutes an offer nor makes any recommendation to buy or sell any securities.
About Viridian Capital Advisors, LLC
Viridian Capital Advisors is a financial and strategic advisory firm dedicated to the cannabis market. We are a data- and market intelligence-driven firm that provides investment banking, M&A, corporate development, and investor relations services to emerging growth companies and qualified investors in the cannabis sector. Our banking practice, through broker-dealer Pickwick Capital Partners, provides capital and M&A to fund the growth of our clients, while our advisory practice helps to position and build their businesses. Our team’s decades of high level operating and transactional experience on Wall Street in a variety of emerging sectors, allows Viridian to provide comprehensive strategic and financial solutions that assist cannabis enterprises in realizing their full potential.
