According to a document filed with the Security and Exchange Commission, Vida Cannabis sold a total of $440,000 in a non-brokered equity investment round to US investors. The transaction which started on April 29th, garnered the support of seventeen investors. The company raised a total of $2.5 million in mid-April and the amount disclosed to the SEC is probably the portion of the offering subscribed by US investors.
The company is a medicinal marijuana producer. The company’s goal is to develop a major production footprint in the rapidly developing global marketplace for the legal use of medicinal and recreational marijuana. The company is focusing on the Canadian market where Health Canada has established national guidelines enabling best-in-class producers to acquire commercial production licenses under the Marijuana for Medical Purposes Regulations.
The company, headquartered in Toronto Canada, was registered this year. Revenues were not disclosed.
The executive team includes Gary Harbottle, J Gregory Wilson and Ricardo Faria.
The board of directors includes Christine Fard, Christopher Hansen, Michael Stocker and Ronald Holland.
Company: Vida Cannabis
Amount offered: $440,000
Amount placed: $440,000
First sale: 04-29-2014
Data as of: 05-13-2014