There were 39 transactions in the North American Cannabis sector in February 2020, including 24 private placements, 2 public offerings, 9 mergers & acquisitions and 4 shelf registrations, with a total value of C$0.6 billion. Total deal volume decreased by 30% over February 2019 and transaction value decreased by 55%.
There were several financing transactions in February 2020, although far fewer and smaller in size than in February 2019: Acreage Holdings Inc. announced $40 million private placement which it has since closed; Green Growth Brands announced a private placement of $30 million; Eaze Technologies Inc. announced a private placement of $27 million which has since closed; Kali Inc. announced a private placement of $26.5 million and KushCo Holdings Inc. announced a public offering of $21.3 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.
Want to receive a monthly update from Sinclair Range straight to your email box? Subscribe here!