Acreage Holdings Creates US Cannabis History by Closing Largest-Ever Private Round

Acreage Holdings

In the US, Acreage Holdings has successfully closed the largest private funding round in cannabis history. 

News like this reaffirms a growing and profitable cannabis market.

Acreage Holdings Series E Private Round

This was Acreage's Series E funding round and has netted the cannabis company $119 million which it states will be used to further expand its reach by acquiring other brands, licenses, and properties in the months to come. 

Currently, Acreage operates in 13 states across the US and is preparing for listing on the CSE this fall. Because of the new legality of marijuana in Canada since the passing of bill C-45, the company has firmly set its sights on becoming a publicly owned and traded body in North America.

The newly raised capital will now help to prepare the company for this listing;

"We are planning on listing on the CSE for many reasons, including the positive reception that the Canadian institutional investment community has shown to the U.S. cannabis industry and to Acreage in particular. Additionally, the CSE has become the exchange of choice for U.S. companies like ours," said Kevin Murphy, founder, and CEO of Acreage Holdings.

He continued;

 "The liquidity on the CSE is incredibly attractive to Acreage, and we know that retail investors in the U.S. have become comfortable with that exchange. We expect to see a tremendous response to our offering this fall."

About Acreage

Acreage holdings is a vertically integrated cannabis operator, meaning it controls its own supply chain from beginning to end product. As such it owns cultivation, processing and dispensary operations across the US with its headquarter based in New York.

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The success of this funding round means that Acreage is one of the best capitalized companies in the cannabis industry, and in the words of its CEO, it has "a footprint that is second to none". The funding round now gives the company a strong investment proposition that it will excise in it's upcoming listing into the public markets. 

Featured Image: Deposit Photos/jag_cz

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