Aphria Inc. to Expand into Latin America with Proposed $193M Stock Acquisition of LATAM Holdings
Aphria Inc. (TSX: APH) (OTC: APHQF) announced this month that the company has entered into a share purchase agreement with private company Scythian Biosciences, Inc. (TSXV: SCYB) (NASDAQ:SCCYF) to acquire 100% of its wholly owned subsidiary LATAM Holdings in exchange for 15,678,310 shares of Aphria, worth a total of $193 million dollars. This acquisition will allow Aphria Inc. to enter cannabis markets in Colombia, Panama, Costa Rica, Jamaica, Nicaragua, El Salvador, Guatemala, and Brazil.
The Cronos Group to Build 850,000 sq. ft. Cannabis Greenhouse in Ontario
The Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) announced that the company has entered into a joint venture partnership with a collective group of investors to develop a 850,000 sq. ft. greenhouse for cannabis cultivation in Ontario, Canada. The two parties will join to create a newly founded entity, Cronos Growing Company Inc., which the revenue generated by the company will be split 50/50 between The Cronos Group and the investor group. Cronos Growing Company expects that the facility will be capable of producing 70,000 kg annually to meet the expected demand for recreational cannabis in Canada.
CV Sciences Triples CBD Sales in Q2 to $12 .3 Million
CV Sciences, Inc. (OTCQB: CVSI) announced that the company’s second quarter 2018 revenue is expected to have reached $12.3 million, which is up 203% compared to their second quarter last year. The company owns the well-known hemp derived CBD product brand +CBD oil. CV Sciences, Inc. currently has a market cap of $234.82m and is trading at 2.769 per share.
Acreage Holdings Announces $119M Private Capital Raise
Acreage Holdings, a privately held cannabis company with cultivation, processing, and dispensing operations owned across 13 U.S. states, announced this week that the company has successfully closed its Series E funding round. Acreage Holdings has officially raised $119 million of capital which will be used to prepare the company to go public on the Canadian Securities Exchange (CSE) this Fall.
Canopy Rivers Plans to Go Public After Completion of $100M Private Placement
Canopy Rivers is a privately held investment company located in Canada that focuses on new opportunities in the cannabis and hemp markets. Investors may recognize their name because the company works closely in conjunction with Canopy Growth Corporation, which is one of the largest public cannabis companies in the sector. The company has recently completed
its private placement selling 28,792,000 shares
for a total gross proceeds of $104,212,000.
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