Armed with $30 million in fresh capital earmarked for cannabis investments in the Golden State, Ottawa’s CannaRoyalty says it’s purchased a manufacturing and distribution facility north of San Francisco.
In late June, CannaRoyalty (CSE: CRZ) (OTCQX: CNNRF) – which provides opportunities for investors seeking legal exposure to North American cannabis markets – announced the private placement as it sought additional capital to expand its footprint in California.
The Ottawa-based company has invested heavily in California, the world’s largest legal cannabis market, acquiring pot producers and a firm that manufactures accessories such as vaporizer pens on the strength of a $15-million financing round that it secured earlier this year.
(Sponsored)
SnowBall 2026: A premier networking event with purpose returns to 50 Sussex Dr.
As winter settles in across the capital, one of Ottawa’s most high-profile charitable and business networking events is set to return to its roots: On Wed., March 4, 2026, The
OCOBIA eyes Ottawa BIA expansion as it gears up for election year
Michelle Groulx says it’s not difficult to spot the Ottawa neighbourhoods with their own business improvement area (BIA). That’s because, she says, BIAs are a visual and experiential representation of
In the days following the closing of the latest round of funding, CannaRoyalty closed its previously announced purchase of FloraCal Farms, a profitable premium pot producer that generated US$6.4 million in revenue in the last fiscal year.
On Friday, CannaRoyalty also announced that it was spending US$2.4 million to purchase a licensed distribution and manufacturing facility to improve its California channels.
The push comes at a key time in California’s cannabis market. CannaRoyalty says the state left a “grey” zone on July 1 by mandating retailers cease carrying non-compliant cannabis products.
“We anticipate this may lead to short-term supply disruption, further increasing the value of compliant brand players like FloraCal, to our network,” Afzal Hasan, CannaRoyalty president and general counsel, said in a statement.
