There were 57 transactions in the North American Cannabis sector in June 2019, including 34 private placements, 6 public offerings, 10 mergers & acquisitions and 7 shelf registrations, with a total value of C$2.1 billion. Total deal volume increased by 63% over June 2018 and transaction value increased by 30%.
June saw a number of private placements and public offerings in the cannabis space, with the largest being: Surterra Florida, LLC, Florida-based grower and manufacturer of cannabis raising, raised US$100 million, The Flowr Corporation, a vertically-integrated Canadian cannabis company, raised C$125 million and Trulieve Cannabis Corp., a medical marijuana company, raised US$70 million.
Calculations include asset purchases and sales, joint ventures and minority and majority shareholdings that disclosed a transaction value and were announced within the time frame. Cannabis industry definition includes cannabis products producers as well as supporting industries such as suppliers, laboratories, and security, among others. Cancelled transactions were excluded. Exchange rates based on historical figures. All currency in Canadian dollars.
Sources: Capital IQ, analyst research.
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