Each week, DCN will curate a rundown of startup, tech, and innovation news in the cannabis industry for its new series, DCN Micro News.  

January 21st, 2019

High Times to Acquire Spannabis, Europe’s Largest Cannabis Event

Hightimes Holding Corp. (“Hightimes”), the parent company of High Times, the most well-known brand in Cannabis, announced its plan to acquire the assets and business of Feria Del Canamo, S.L., doing business as Spannabis, the European Union’s largest Cannabis industry event. Billed as part trade show and part research conference, Spannabis has plans to return to Barcelona for its 16th edition of the celebration this March. The festival, which also includes its own award ceremony crowning the best cannabis and cannabis-related products in the region, attracts tens of thousands of consumers from across the globe annually.

The deal terms, which included $3 million cash due at closing, $4 million in Hightimes common stock, and two milestone payments for the show in 2020 and 2021.

Original press release, click here.

$30k Grants For 2 Portland African-American Owned Cannabis Businesses

A delivery and subscription box service called Green Box and a hip-hop-linked dispensary, Green Hop are the first recipients of $30,000 tax-funded grants intended to boost entrepreneurship in communities historically harmed by cannabis prohibition in Portland. The NuLeaf Project, financed through Prosper Portland with $150,000 of city cannabis tax revenue.

Original article, click here.

January 22nd, 3019

Canopy Rivers Announces Investment in Adult-Use Cannabis Beverage and Edibles Brand

Canopy Rivers Inc. (TSXV:RIV) has announced that it has completed an equity investment in 10663522 Canada Inc., or “Herbert” (“Herbert”), a unique brand platform that focuses on the adult-use cannabis beverage and edibles market. Canopy Rivers subscribed for C$1,500,000 of preferred shares in Herbert and received incremental warrants entitling the Company to increase its economic interest in Herbert under certain circumstances, as well as other governance-related rights.

Original press release, click here.

January 23rd, 2019

Israeli Venture Capital Firm To Launch Cannabis Technology Fund 

OurCrowd, a global investment platform, and Israel’s leading venture investor has announced that it will invest and partner with 7thirty to build the world’s leading global cannabis technology venture capital fund. The new $30m fund is focused on emerging cannabis technology companies in med-tech, ag-tech, retail, e-commerce, marketplaces, SaaS solutions, and the deep-tech research in Cannabis. The fund, headquartered in Boulder, Colorado, will be active globally and include activities in Israel, Canada, and the United States.

Original press release, click here.

January 24th, 2019

Vangst Completes $10 Million Series A Financing

Vangst, the leading human capital resource platform catering to the legal cannabis industry, announced today the closing of an oversubscribed $10 million Series A financing round. This round increases the total capital raised to date by the Company to $12.5 million. The funds will be used capitalize on the strong acceptance in Colorado and California of their on-demand platform, Vangst GIGS, accelerate its rollout to 10 more markets in the United States and Canada over the next two years. In addition, they will continue to strengthen our leadership team and technology platform to help drive our ambitious growth plans. The financing was led by Casa Verde Capital and included Lerer Hippeau, among others.

Original press release, click here.

Flower One Announces Licensing Agreement and Brand Partnership to Bring California Cannabis Brand, Palms, to Nevada

Flower One Holdings Inc.(CSE: FONE) (OTCQB: FLOOF) today announced a new licensing agreement and Brand Partnership for cannabis-product fulfillment in Nevada. Palms is a California-based, experience-driven cannabis brand known for high-quality pre-rolls that offers consumers a thoughtful and consistent cannabis experience. Flower One is now licensed to manufacture, distribute and sell Palms’ signature cannabis products to all cannabis retailers in Nevada, marking the consumer brand’s first out-of-state expansion.

Original press release, click here.

Caliva Raises $75M To Invest In Largest Global Cannabis Market

Caliva, one of the largest vertically integrated cannabis companies in California, has closed its first round of funding at an over-subscribed amount of $75M. Caliva will be utilizing the investment to grow its product portfolio and expand its reach to California consumers through its own branded retail stores, expanded wholesale distribution, and through direct-to-consumer channels.

Original press release, click here.

Chemistry Closes $6M Series A Round with Gotham Green Partners

Chemistry, an Oakland-based full-spectrum cannabis extract manufacturer, announced today that it closed a $6M Series A financing round led by Gotham Green Partners, a private equity firm focused on deploying capital into cannabis and cannabis-related enterprises on a global scale. The financing will be used to fund Chemistry’s continued expansion into the California market with its line of full-spectrum vape cartridges, high CBD tinctures and THCa crystallines, and for further investment into scaling its proprietary extraction and refinement techniques pioneered by founder and Chief Executive Officer, Paul Roethle, PhD.

Original press release, click here.

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