An Ottawa-based cannabis company is hoping to open the door to new markets for its substantial California pot holdings with the acquisition of a Canadian vape retailer.
Ottawa investment vehicle has spent several years laying foundations in California’s lucrative cannabis market, and this past quarter’s results reflect its production and distribution operations…
Deal gives CannaRoyalty exposure to one of Canada's fastest-growing cannabis firms.
California push comes as state mandates that retailers cease carrying non-compliant cannabis products – a move that's expected to benefit licensed firms such as CannaRoyalty.
As legalization nears, some local pot firms believe small-scale producers could parallel the branding successes of craft beer, while others worry regulations will smoke out the little guys.
Canopy closes $500M round, LiveWell to go public, CannaRoyalty plans to raise $30M
CannaRoyalty has been on an acquisition spree focused on cannabis producers in the California market
Earlier this week, CannaRoyalty closed $17.3M financing round.
CannaRoyalty, which finances and invests in marijuana companies, posted revenues of just over $3 million for the fiscal year ending Dec. 31.
“We are confident that (this) will position us as a leader in the world's largest regulated cannabis distribution system, in California.”