(MENAFN- Investors Ideas)
February 14, 2017 (Investorideas.com Newswire) Viridian Capital Advisors, LLC reports on its weekly Viridian CANNABIS DEAL TRACKER for the week ending February 10, 2017.
Summary for the Week Ended February 10, 2017, 2017
Announcements: 30 Capital Raises: 14 M & A Transactions: 11 Capital Raise and M & A: 1 Going-Public Transactions: 2 Stock Listings: 2 Year-over-Year: Capital Raises: 6 capital raises closed this week for a total of $29.2 million ($4.9 million average) compared to 7 raises closed for a total of $6.1 million ($0.9 million average) this week last year. M & A Transactions: 5 deals were closed this week compared to 0 deals closed this week last year. We have tracked over $100 million in capital raises closed by cannabis companies year-to-date.
Capital Raises
Emerald Health Therapeutics, Inc. (TSXV: EMH), which is, through its subsidiary, a licensed cannabis producer in Canada, closed a C$13.8 million bought deal financing for facility expansion, working capital, and general corporate purposes. Kalytera Therapeutics, Inc. (TSXV: KALY), a developer of cannabinoid-based medicines, closed a C$13.4 million tranche of its private placement for the acquisition of Talent Biotechs Ltd., to complete work required to advance the Talent Biotechs product into Phase 2b clinical testing for FDA purposes, and for general corporate and working capital purposes. The Green Solution, a leader in the U.S. legal cannabis market with licenses in multiple states, received a $7.5 million loan facility from iAnthus Capital Holdings, Inc. (CSE: IAN) as part of the two companies' recently implemented strategic relationship. Valens GroWorks Corp. (CSE: VGW), a post-inspection applicant for cannabis cultivation and processing in Canada, issued a convertible note for proceeds of C$500,000 to meet acquisition and expansion obligations and for general corporate purposes. MYM Nutraceuticals, Inc. (CSE: MYM), whose primary focus is developing high-end organic medicinal marijuana supplements and topical products, closed its C$405,000 non-brokered private placement of units for general working capital and corporate purposes. Laguna Blends, Inc. (CSE: LAG), a producer of hemp- and CBD-infused products, closed the C$345,850 second tranche of its non-brokered private placement.
Mergers & Acquisitions
First Harvest Corp. (OTCPink: HVST), a platform for tech, media, and gaming, with a focus on the cannabis industry, acquired Cannavoices, Inc., a developer of cannabis-focused mobile games and social media platforms. Elev8 Brands, Inc. (OTCPink: VATE), a company with a new premium hemp seed coffee blend that also plans to bring to market hemp water products and supplements, all of which will focus on the health and fitness markets, acquired O2 Breathe, LLC, a company supplying portable oxygen bars and aromatherapy inhalers. Tokyo Smoke, a leading Canadian premium cannabis-oriented lifestyle brand, acquired Van der Pop, a like-minded cannabis product and experience brand based in Seattle, WA. CaliPharms, Inc. (OTCPink: KGET), a company targeting acquisitions in the cannabis industry, acquired a majority interest in Country Junction Farms, a medical marijuana cultivator in Northern California. Grow Solutions Holdings, Inc. (OTCQB: GRSO) acquired Keys Organic and Hydroponic Supply, a retailer of indoor and outdoor growing supplies located in Big Pine Key, Florida.
Summary of Year-to-Date (YTD) Transactions
Capital Raises
We have tracked 28 capital raises totaling $109.7 million. Public versus Private: Public companies: 24 raises totaling $96.4 million Private companies: 4 raises totaling $13.3 million Equity versus Debt: Equity: 21 raises totaling $89.1 million Debt: 7 raises totaling $20.5 million
Mergers & Acquisitions
We have tracked 19 M & A transactions. 16 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.
Capital Raises
Biotech/Pharma
Kalytera Therapeutics, Inc. Announces Closing of First Tranche of Brokered Private Placement
Zynerba Pharmaceuticals Announces Full Exercise of Underwriters' Option to Purchase Additional Shares
Cultivation & Retail
Aphria Inc. Announces C$50 Million Bought Deal
Maple Leaf Seeks Financing for its MJ Projects
MYM Announces Close of Non-Brokered Financing
The Green Organic Dutchman Holdings Ltd. Announces $10 Million Non-Brokered Financing
Emerald Announces Closing of C$13.8 Million Bought Deal
Valens GroWorks Appoints Chief Operating Officer and Arranges Convertible Note Financing
Infused Products & Extracts
Lifestyle Delivery Systems Inc. Announces Brokered Private Placement of Units
Laguna Blends Over-Subscribes Private Placement and Closes Second Tranche for 2,305,666 Units for Total Proceeds of C$345,850
Investment/M & A
iAnthus Capital and U.S. Cannabis Industry Leader The Green Solution Enter into Strategic Partnership and Credit Facility; iAnthus Concurrently Announces Bought Deal Private Placement of Convertible Debentures
iAnthus Capital Announces Upsizing of Previously Announced Bought Deal Private Placement of Convertible Debentures To C$20,000,000
Invictus MD Announces C$15,015,000 Bought Deal Private Placement of Units
Real Estate
INCC Has Received an Institutional Commitment for Marijuana Based Real Estate Debt Financing
Mergers & Acquisitions
Agriculture Technology
GRSO Acquires Keys Organic And Hydroponic Supply; Continues Acquisition Strategy of High Profit Potential Cannabis Companies
Cultivation & Retail
Alliance Growers Executes Founders Agreement with Private LP Applicant
CaliPharms Announces Completion of Cannabis Grow Acquisition -- Company Supports Trademarking of Cannabis Products
Tokyo Smoke Acquires Van der Pop, Seattle's Preeminent Female-Focused Cannabis Lifestyle Brand
THC Signs Definitive Agreement to Purchase Clone Shipper
Consulting Services
BCC Signs LOI to Acquire New Cannabis Assets
Hemp
Elev8 Brands, Inc. Acquires 02 Breathe, LLC
Infused Products & Extracts
ML Capital Group and Puration to Partner on Purchase of Spanish Peaks ScrumpDelicacies in Deal to Include Shareholder Dividend
Investment/M & A
Invictus MD Announces Binding LOI to Acquire 100% of a Late Stage Applicant Under Health Canada's ACMPR
Invictus MD Announce That AB Ventures Inc. has Acquired 100 Acres for Future Cannabis Cultivation and Sale Under the ACMPR
Software/Media
First Harvest Corp. And Cannavoices, Inc. Announce Completion Of Share Exchange Transaction
Capital Raise and M & A
Cultivation & Retail
Valens GroWorks Launches Expansion Strategy with Proposed Acquisitions, Executive Appointment, and Proposed Financing
Going-Public Transactions
Cultivation & Retail
Newstrike Resources Ltd. Enters into Agreement with HPI Holdings Ltd. to Complete Business Combination and Concurrent Financing Transactions
High Hampton Announces Acquisition of CoachellaGro Corp. and C$5 million Concurrent Financing
Stock Listings
Agriculture Technology
Roto-Gro International Joins ASX List of Cannabis-Tech Companies
Cultivation & Retail
Aphria Receives Conditional Approval to Graduate to the TSX
To Learn More About the Viridian CANNABIS DEAL TRACKER Contact:
Harrison Phillips
Viridian Capital Advisors, LLC
(212) 485-0284
* 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 (www.viridianca.com) is a financial and strategic advisory firm dedicated to the cannabis market. We provide market intelligence, investment banking, investor relations, and corporate development 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.
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