Tagged: cannabis

4Front Ventures disclosed issuing $3.33 million worth of equity


XDATA – December 31st 2015
4Front Ventures reported closing its $3.33 million private placement a little over a week ago. All the unregistered equity securities issued were acquired by one investor. Two previous unregistered financing rounds raised an estimated $12 million.
The company is an advisor, investor and publisher focusing on the emerging state-legal marijuana industry. Through its subsidiaries, 4Front Advisors, 4Front Publishing and 4Front Capital, the company provides an end-to-end solution to professionalize the marijuana industry through impactful collaboration and the promotion of best practice and informed insight.
Joshua N Rosen (President) leads the Phoenix AZ based company which was registered in 2014. 4Front Ventures elected to keep its revenues undisclosed.
The executive team includes Andrew Thut and Trevor Pratte.The company has raised an estimated total of $15.33 million via private unregistered security offerings.
Offering recap
Status: Completed
Company: 4Front Ventures
Industry: Business Services
Amount offered: $3.33 million
Amount placed: $3.33 million
SEC filing: Source
First sale: 12-22-2015
Data as of: 12-31-2015

Overview: Q3 cannabis related private placements


The cannabis industry initiated 23 private placements during Q3 14 offering $114* million worth of securities to qualified and accredited investors as well as QIBs. The companies disclosed having raised at the time of filing $35.4 million or roughly 1/3rd of their placement. XDATA broadly classified companies in categories, namely producers and associated activity focusing on the trade (distributors, exchanges etc…). Producers raised on average $2 million per deal which is slightly higher than companies in associated activities. It certainly seems professional smart money is putting some skin in the game based on the categories’ leaders.

On the producer side, Mettrum, a Health Canada licensed producer of medicinal cannabis, lead the pack placing $4.2 million with US investors. The company initiated a reverse take-over in June to list on TSX Venture and completed the transaction two days ago. The company raised gross proceeds of $34.5 million from the private placement which was completed by a syndicate of agents led by Cormark Securities and including GMP Securities, Paradigm Capital and Jacob Securities.

In the other category, Privateer Holdings placed $18.7 million. Privateer is a private equity firm making strategic investments in the cannabis industry to acquire and create mainstream brands, professionalizing the cannabis business landscape. The company is backed by  Ivy League MBAs, marketing professionals, and federal law enforcement professionals. The company is currently invested in Tilray (a premium brand of medical cannabis) and Leafly (an online information resource for cannabis consumers).

 

Name Deals Offering Raised
 Privateer Holdings             1        75,000,000        18,665,595
 Growlife             8          2,205,440          2,205,440
 OXIS International             1          1,425,000          1,425,000
 Royale Leisure Industries             1          1,000,000            500,000
 Greenbroz             1            500,000            150,000
 Phoenix Pharms Capital             1          2,500,000            126,000
 Prohibition Brands             1            250,000              67,000
 Colorado Cannabis Exchange             1            100,000              10,000
 …               15          82,980,440          23,149,035
Mettrum 1        10,229,472          4,262,280
Cresco Labs 1          4,000,000          4,000,000
CannMedica Pharma 1          2,786,700          2,786,700
Green Star Growing 1          5,000,000            950,000
Waveseer of Las Vegas 1          8,730,000            200,000
Pure Natures Wellness 1              40,549              40,549
6          30,786,721          12,239,529
DisposaBowls             1              22,500              22,500
Infinity Minerals             1              28,539              16,308
                2                  51,039                  38,808

*offered by US based companies or to US based investors. If the company is located outside the US only the portion of the placement allocated to US investors is taken into account.

For more information visit www.XDATA.co

Cresco Labs reports the successful completion of its equity issuance


XDATA – September 30th 2014

cresco lab Cresco Labs placed $4 million worth of securities as part of a non-brokered equity financing round. The placement, which started a couple of months ago, lured a total of eleven subscribers. No offering was previously initiated by the company under a registration exemption with the SEC.

Cresco Labs develops a state-of-the-art, highly secure medical marijuana facility to provide quality, standardized medical products for Illinois medical patients.

The company was registered in 2013 and has its headquarters located in Chicago IL. Cresco Labs elected to keep its revenues undisclosed.
The executive team includes Dominic A. Sergi and Kayvan Khalatbari.

Offering recap
Status: Completed
Company: Cresco Labs
Industry: Agriculture
Amount offered: $4 million
Amount placed: $4 million
First sale: 07-21-2014
Data as of: 09-30-2014


For more information visit www.XDATA.co

Kung Fu Vapes is in the market with a $500,000 investment round


XDATA – August 25th 2014

kung fu vapes  Kung Fu Vapes launched a $500,000 non-brokered equity offering based on information filed with the SEC. The subscription to the equity offering hasn’t started yet. The offering is structured to remain open until August 2015 or when the fundraising cap is reached, whichever one comes first. The equity offering’s estimated net proceeds will amount to $400,000 which excludes $100,000 to be paid toward officers’ salaries. Until this disclosure Kung Fu Vapes had raised an estimated $100,000 in unregistered securities via one previous financing round.

Kung Fu Vapes markets atomizers for the delivery of cannabis oils and concentrates.

Kung Fu Vapes, registered in 2014, is headquartered in Uncasville CT. It is led by Samuel Laurion (CEO). Revenues on or below $1 million were reported by Kung Fu Vapes.
The board of directors includes John Dawson.

Offering recap
Status: Launched
Company: Kung Fu Vapes
Industry: Retailing
Amount offered: $500,000
Data as of: 08-25-2014


For more information visit www.XDATA.co

GrowLife files details on the completion of its financing round


growlifeOne financial backer invested $516,000 in return for unregistered equity securities issued by GrowLife. The transaction completed a little over a week ago via a non-brokered private placement. The company closed three previous unregistered private placements which raised an estimated $42.5 million.
GrowLife trades under symbol OTC: PHOT.

GrowLife markets products and services addressing the needs of legal cannabis growing and retail operations, including hydroponic growing equipment and retail support software. The company provides these solutions through a nationwide retail network, as well as online sites Greners.com, Phototron.com, Growlifehydroponics.com, 58hydro.com and StealthGrow.com. The Company offers financial support and consulting services to help growers expand their businesses. The company also operates the political and social forum, Cannabis.org.

The company, headquartered in Woodland Hills CA, is led by Marco Hegyi (President). GrowLife elected to keep its revenues undisclosed.
The board of directors includes Jeff Giarraupto, Mark E Scott and Tony Ciabattoni.

The company has raised an estimated total of $43.02 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: GrowLife
Industry: Other Technology
Amount offered: $516,000
Amount placed: $516,000
First sale: 06-04-2014
Data as of: 06-12-2014

Vida Cannabis sold $440,000 worth of securities to US investors


vida cannabisAccording 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.

Offering recap
Status: Completed
Company: Vida Cannabis
Industry: Other
Amount offered: $440,000
Amount placed: $440,000
First sale: 04-29-2014
Data as of: 05-13-2014

Vida Cannabis raises $2.5 million via equity issuance


vida cannabisVida Cannabis  upped and completed its $2.5 million equity offering according to information released on April 15th by the company. The company had originally secured a $1 million seed financing from Canadian investors in early March. According to an SEC filing $35,000 was raised in the US from three financial backers on March 20th. No offering was previously initiated by the company under a registration exemption with the SEC.

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 Michael Stocker and Ronald Holland.

Offering recap
Status: Completed
Company: Vida Cannabis
Industry: Other
Amount offered: $2.5 million
Amount placed: $2.5 million
Data as of: 04-16-2014

Digital hub for the medical cannabis community files $475,000 final close


massrootsMassRoots disclosed selling $475,000 worth of equity securities as part of a new financing round. The financing which started to sell last Wednesday was subscribed in full by thirty-seven investors. The equity offering’s estimated net proceeds amount to $375,000 excluding $100,000 earmarked for the payment of officers’ salaries. Until this disclosure MassRoots had raised an estimated $150,000 in unregistered securities via one previous financing round.

The company is developing a social platform for cannabis consumers to connect. The company moved to Colorado to tap into its burgeoning cannabis economy and leverage its cannabis friendly laws.

The company, headquartered in Boulder CO, was registered in 2013. No revenues were reported by the company.
The executive team includes Hyler C Fortier, Stewart J Fortier and Tyler A Knight.

The company has raised an estimated total of $625,000 via private unregistered security offerings.

Offering recap
Status: Completed
Company: MassRoots
Industry: Other Technology
Amount offered: $475,000
Amount placed: $475,000
First sale: 03-26-2014
Data as of: 03-31-2014