$770 million windfall: Canadian marijuana companies see surge in new investments.
By Matt Lamers (Marijuana Business Daily)
Canada’s marijuana-related companies collectively raised more than $770 million dollars in the first half of 2017 – a nearly 1,700% increase from a year earlier – as businesses prepare to ramp up production to meet growing demand at home and abroad.
The funding windfall comes as Canadian cannabis companies are preparing to boost supply in response to:
- The planned start of recreational cannabis sales in Canada next summer.
- The nation’s booming medical marijuana market.
- Overseas demand for their products.
The U.S. dollar-based funding total – provided to Marijuana Business Daily by Viridian Capital Advisors, which tracks cannabis-related investments – dwarfs the $43 million Canadian companies raised in the first six months of 2016.