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 28th, 2019

Israel Passes Cannabis Export Law, Paving Path for Aura’s European Distribution

Aura Health Inc. (the “Company” or “Aura”) (CSE:BUZZ) is pleased with the final approval of Israel’s export law for medical cannabis. On Sunday, January 27, the Israeli government announced the new law, approving the export of Israeli-grown cannabis to the global market. The law makes Israel the third country in the world, after Canada and the Netherlands, to approve export of medicinal cannabis.

The primary export market is expected to be the European Union, one of the world’s largest markets for medical cannabis. This is particularly beneficial to Aura, as the Company continues to grow its presence in the E.U. and build a strong vertical integration with our business in Israel.

Original Press Release, Click Here. 

January 29th, 2019

Cannamedical® Receives Euro 15 Million Equity Investment from Orkila Capital

Cannamedical Pharma GmbH, one of the leading independent cannabis wholesalers in Germany and the European Union, has received a 15-million-euro equity investment from the US- and Germany-based growth equity investment firm Orkila Capital LLC. As a result of its investment, Orkila Capital has acquired a minority in Cannamedical.

Orkila Capital’s Series A investment in Cannamedical is the largest private equity transaction in the cannabis industry in Europe. Following Orkila Capital’s investment, founder David Henn holds approximately 60 percent of the shares in Cannamedical Pharma GmbH. SN-Invests, a Luxembourg-based start-up investor, is the company’s third-largest shareholder with a stake of almost 21 percent.

Original Press Release, Click Here.

January 30th, 2019

NorCal Cannabis Closes Series A Financing

NorCal Cannabis (“NorCal”), one of the largest vertically integrated cannabis operators in California, announced that it has closed a $27.4 million round of Series A financing. The round formally closed on December 1, 2018, bringing the total amount raised by the company to $50 million since inception in 2015.

NorCal plans to deploy this capital to increase production and manufacturing at its leading-edge Santa Rosa campus, expand its statewide delivery platform and increase its retail and customer-facing footprint. With this raise, the Company is also paving the way for a potential 2019 public listing.

Original Press Release, Click Here. 

C21 Investments Inc. (CSE: CXXI) Cannabis Company raises total gross proceeds of almost $15 million

C21 Investments Inc. (CSE: CXXI) today announced that it has closed the second and final tranche of its previously announced upsized brokered syndicated private placement of units (each, a “Unit”) (the “Offering”) for additional proceeds of $9,825,000 (all figures in Canadian dollars). Combined with the closing of the first tranche of 5,063 Units on December 31, 2018, total gross proceeds from the Offering are $14,888,000.

The Offering was led by Industrial Alliance Securities Inc. with Canaccord Genuity Corp. and Sprott Capital Partners, a division of Sprott Private Wealth LP, as syndicate members.

Original Press Release, Click Here.

January 31st, 2019

LB Equity Announces Investment in Standard Dose, First Platform Dedicated to Newly Legalized CBD-Based Products and Information

LB Equity (‘LBE’), an investment firm focused on emerging brands in the beauty and personal care sectors, today announced an investment in Standard Dose. Standard Dose is a first-of-its-kind platform dedicated to the pursuit of elevated wellness through natural healing products, including education and sale of hemp-based Cannabinoid (‘CBD’) beauty products. This is the first portfolio investment in LBE’s $50 million ‘LB Equity Emerging Growth’ Fund, which will be concentrating its investments in the beauty, health and wellness, and sustainability sectors, with an emphasis on emerging cannabis-based products and companies.

Original Press Release, Click Here. 

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