Privateer Holdings Announces Additional $100M Capital Raise

Privateer Holding is a Seattle based portfolio company in the cannabis sector that has raised over $120M dollars in funding in 2017 and now has announced yesterday that they have raised an additional $100M investment into the company’s operations. Subsidiaries of the company include the Marley Natural branded product line, Leafly a cannabis social network website, and medical cannabis research and development company Tilray. The company had almost doubled their revenue over the past year and will use this new influx of cash to expand into new acquisitions and joint ventures internationally as well as grow its current portfolio companies. Nearly 40% of the $60M was received from new investors. The Founders of the Company gave the following statement to Tech Crunch: “The War on Cannabis is wrong. It has made criminals out of millions of peaceful citizens. It has led to the incarceration of a vastly disproportionate number of people of color. It has squandered trillions of taxpayer dollars. It has empowered organized crime, promoted violence, trampled human rights, stymied science, and caused countless patients to suffer when natural medicines were close at hand,” the three founders write in a statement. “But hope is in sight. Brick by brick, the Berlin Wall of cannabis prohibition is crumbling and safer, saner and more sensible cannabis policies are taking hold. A consistent majority of Americans and Canadians support regulating and taxing cannabis like alcohol. And more than nine out of 10 believe medical cannabis should be legal. Under pressure from public opinion, politicians and bureaucrats are finally catching up. As the end of prohibition unfolds, Privateer Holdings is pioneering the future of the legal cannabis industry.” About Privateer Holdings Founded in 2010 in Seattle by three visionary entrepreneurs with decades of experience in investment banking and venture capital, we represent a group of investors from around the world seeking to end cannabis prohibition and the social harms it causes. Through a combination of acquisitions, investments and incubation, we are focused on building a portfolio of global brands that will lead, legitimize and define the future of cannabis. Sources: “https://techcrunch.com/2018/01/25/privateer-cannabis-startups-high-times/” Techcrunch.com “https://www.privateerholdings.com/about/” Privateer Holdings

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