Tagged: cannabis

FBH, Moonstone Bank Raise $11.5M Private Placement

FBH, and its fully owned subsidiary Moonstone Bank, today announced that it has raised $11.5 million in a private placement from an investment by Alameda Research Ventures. The two entities have committed to making traditional financial systems work for innovative small to medium-sized enterprises that are underserved… Read More

Commercial Cannabis Financing Lender Bespoke Financial Raises $8 Million through Series A Funding Round Led By Snoop Dogg’s Casa Verde Capital & Sweat Equity Ventures

  Bespoke Financial, a U.S.-based fintech that provides debt financing to cannabis companies, announced on Tuesday it raised $8 million through its Series A funding round, bringing the company’s total funding to date to over $28 million. According to Bespoke, the investment round was led… Read More

HANetf Says AUM Tops $2 Billion Up 85% Since Start of Year Aided by Bitcoin ETF

HANetf, described as Europe’s first full-service white label UCITS ETF issuer, says it has topped $2 billion in assets under management (AUM) as of last week. HANetf reports that it now has an AUM of £2.22 billion – a whopping increase of 85% since the… Read More

New Zealand-Based Medicinal Cannabis Company Phytotecnia raises over $300,000 Days After Launching Crowdfunding Campaign on PledgeMe

Phytotecnia, a New Zealnd-based medicinal cannabis company, launched its equity crowdfunding campaign publicly through PledgeMe on Monday. The investment raised more than $300,000 privately days prior to the launch.  Founded in 2019, Phytotecnia was created by Irene López-Ubiria and Álvaro Vidiella-Salaberry, who were also part… Read More

Medical Kiwi, a Medical Cannabis Startup, Raises $400,000 First Day on PledgeMe

Medical Kiwi, a medical Cannabis firm, quickly raised almost NZ $400,000 on its first day on New Zealand investment crowdfunding platform PledgeMe. According to the offering page, Medical Kiwi has raised just shy of $400,000 from 176 individual investors. The offering is seeking a minimum… Read More

US Justice Department Said to be Investigating Wirecard in Alleged $100 Million Bank Fraud in Cahoots with Marijuana Firm

At a minimum, Wirecard AG (WDI:DE) has generated a good amount of fascinating, yet disappointing news, as the once high-profile Fintech plunged into bankruptcy. Today, according to WSJ.com, the US Department of Justice is investigating allegations of bank fraud surrounding a cannabis-focused company. While details… Read More

Global Crowdfunding Platform OurCrowd Receives Tender to Operate Medical Cannabis Incubator

Leading global investment crowdfunding platform OurCrowd has received the tender to operate a medical cannabis incubator. OurCrowd is part of a consortium that won the tender including Perrigo, a non-prescription drug company, and BOL Pharma, a medical cannabis company in Israel and an OurCrowd portfolio… Read More

State & Federal Regulators Issue Statement Regarding Banking & “Hemp Related Businesses” – No More SAR Reports

The Office of the Comptroller of the Currency (OCC) along with three other federal agencies and in conjunction with the state bank regulators have issued a statement clarifying the legal status of hemp growth and production and the relevant requirements under the Bank Secrecy Act… Read More

Ahead of New Zealand’s 2020 Cannabis Referendum, Marijuana Startups Raise Capital on PledgeMe

In advance of a forthcoming referendum on Cannabis, over $6 million has been raised for medicinal marijuana startups in the past 18 months via investment platform PledgeMe. The New Zealand government is poised to determine whether marijuana should be legalized and regulated for recreational use…. Read More

“Sauvignon Blanc of Cannabis” Puro Offers 14.58% Equity Stake on PledgeMe

Medical cannabis company Puro, described as the “Sauvignon Blanc” of marijuana is raising capital on PledgeMe. The Malborogh, NZ based company is seeking NZ $2 million in equity representing a 7.9%% equity stake in the company. The minimum investment has been set at NZ $500…. Read More

California Will Not Act Against Banks Providing Services to Cannabis Companies but Risk Remains

Earlier this month, the California Department of Business Oversight issued Cannabis Banking Guidance regarding state regulation. California is one of a growing number of states that have legalized Cannabis consumption. While California, and multiple US states, have legalized Cannabis usage, it still is illegal at… Read More

Cannabis Friendly SAFE Banking Act Passes the House, Next Up the Senate

The U.S. House of Representatives has passed H.R. 1595, the SAFE Banking Act, a Cannabis friendly act of legislation that may enable marijuana-based businesses to access the federal banking system. The bipartisan legislation was sponsored by Congressmen Ed Perlmutter (D-CO), Denny Heck (D-WA), Steve Stivers… Read More

Arizona Fintech Sandbox Inducts Stablecoin Service for Medical Marijuana Firms

The Arizona Attorney General’s Office has added a company called ALTA (www.whatisalta.com) to the state’s Fintech sandbox program. ALTA is, “an Arizona startup that will allow cash-intensive businesses to make and receive digital payments without a bank,” using a digital token known as a “stablecoin,” a cash proxy… Read More

TOKE: Cannabis Focused ETF Launched by Cambria on Cboe

The Cannabis sector is smoking hot. The initial euphoria of legalization in Canada and multiple US state has pushed individual Marijuana focused companies to all time highs. Cambria Investment Management is capitalizing on this rush by launching a new exchange-traded fund: Cambria Cannabis ETF. The… Read More

US Senate Banking Committee Schedules Hearing on Cannabis and Banking

The US Senate Banking Committee will hold a hearing to discuss the emerging legal cannabis industry and the challenges with banking. In the US, legalization of Cannabis, whether it is for medical or recreational use, has been a slapdash state by state affair. Federal legalization… Read More

OTC Markets Group CEO Cromwell Coulson: Cannabis is Hot, Cautious on Blockchain Tech & Digital Assets

OTC Markets Group trades over 10,000 US and global securities. The company, a regulated alternative trading system (ATS), operates three tiers of trading platforms with each marketplace (OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market). OTC Markets largely targets smaller companies… Read More

SEC-Mandated Claims Process for Impacted Paragon Coin Investors Extended for 60 Days

The team behind Paragon coin has issued a notice informing “Paragonians” that the US Securities and Exchange Commission (SEC) has ordered a 60-day extension of the claims process the regulator compelled when the company was found to have violated the Securities Act by selling “PRG”… Read More

OurCrowd Portfolio Company Cannabis Firm BOL Pharma Plans Listing on Toronto Stock Exchange

Cannabis company BOL Pharma (Breath of Life International) is preparing an initial public offering on the Toronto Stock Exchange (TSX). This is according to a company release and a preliminary prospectus filed in Canada. It was reported that BOL will have a valuation of around… Read More

Cannabis and Banking: House Committee to Discuss Access to Financial Services for Marijuana based Businesses

The House Subcommittee on Subcommittee on Consumer Protection and Financial Institutions, part of the Financial Services Committee, has scheduled a hearing for Wednesday, February 13th to discuss the Cannabis industry and access to financial services. The Hearing, entitled Challenges and Solutions: Access to Banking Services for Cannabis-Related… Read More

House Financial Services Subcommittee Schedules Hearing on Cannabis Businesses and Access to Banking

The House Financial Services Committee, Subcommittee on Consumer Protection and Financial Institutions, has scheduled a hearing for later next week to discuss the topic Cannabis and banking in a hearing entitled “Challenges and Solutions: Access to Banking Services for Cannabis-Related Businesses.” The Subcommittee is Chaired by New… Read More

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