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SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Silver Spike Acquisition Corp
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Cannabis stocks traded down this week, despite a series of financing announcements and other good news, including a new bill from Congress.
GrowGeneration Corp. (NASDAQ:GRWG) wants to raise $125 million via a public offering. The offering was then upsized to $150 million on Wednesday, offering 5 million shares at a price of $30.00 per share.
Weedmaps is going public via a merger with
Silver Spike Acquisition Corp. (NASDAQ:SSPK), while
LeafLink closed a $40 million Series C funding round led by Founders Fund.
“Money keeps flowing into the cannabis space as we saw the huge $1.5 billion valuation given to the Weedmaps deal with the Silver Spike SPAC. Not only that, GrowGeneration supersized its offering from $125 million to $150 million. Despite the inconsistent stock performance, there is still a big demand for investment in this industry,” Debra Borchard, editor in chief of Green Market Report, told Benzinga.
FILE-In this Tuesday, Aug. 6, 2019 file photo file photo, Marijuana plants growing under special grow lights, at GB Sciences Louisiana, in Baton Rouge, La. Views about medical marijuana appear to be changing across the South, where efforts to legalize it have long been stymied by Bible Belt politics. Medical cannabis is legal now in 33 states, but most Southern states remain among the holdouts. (AP Photo/Gerald Herbert) Associated Press
Welcome to Insider Cannabis, our weekly newsletter where we re bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar global cannabis boom.
Happy Friday readers,
It was a hot week for cannabis deals, as the industry s turnaround seems to be in full swing after a positive crop of earnings (for the most part).
Cannabis Canada Weekly: Weedmaps (finally) plays nice in Canada, Canopy continues to shrink
David George-Cosh, BNN Bloomberg
Weedmaps to omit Canadian illicit operators on platform, requires formal licensing for listings
It appears that Weedmaps is finally playing nice in Canada.
One day after the company announced plans to go public through a merger with a special purpose acquisition company, Weedmaps confirmed Thursday that it now requires any Canadian cannabis listings on its web site to include a formal retail licence number.
That would essentially stop any illicit operators from offering their products on the company s platform, and ensure that licensed cannabis retailers are able to advertise on Weedmaps without competing with cheaper or unregulated options.
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