Positive American Pot News Promotes Fundraising: Cannabis Weekly


Operations at the Pideka medical cannabis cultivation facility

Photographer: Ivan Valencia / Bloomberg

A double dose of good news last week sparked a rapid response from the marijuana industry, with multi-state operators are moving to develop their activities, and quickly.

On the morning of January 6, as the results of the Georgia Senate race turned in favor of Democrats and New York Gov. Andrew Cuomo proposed to legalize marijuana in his state, Curaleaf Holdings Inc. executives suddenly realized that the company could benefit from additional liquidity. They went to see bankers and lawyers around 11 a.m., and in less than 24 hours the company had raised more than $ 200 million in offering more shares to the Canadian Securities Exchange.

“It was very unexpected in Georgia. That’s why we pulled the trigger as fast as we did, to prepare for what we think will be a very dynamic 2021, ”President Boris Jordan said in a telephone interview.

He predicts that Curaleaf will want liquidity for acquisitions as the industry consolidates faster than expected. He also sees states under more pressure to allow medical and adult use after the change from nation to democratic party. In New York City alone, Jordan said Curaleaf needed to quadruple to meet demand.

Cannabis stocks soared as 2021 started with good news
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