Cannabis firms planning to go Public
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16th November 2020

Cannabis firms planning to go Public

Waylon Cameron
The emerging market for cannabis involves many firms seeking to raise funds for expansion, buy other companies, and have a competitive edge through a public listing. In Canadian and the US, marijuana firms expect an expansion in medical and recreational use of the herb. Whereas the American national law forbids cannabis use, medicinal use is permitted in over thirty states. One of the key benefits of listing at the stock exchange is to gain access to funds. Besides, once a company goes public it can use its shares as real-money to expand the business or make acquisitions. Keep reading to discover seven cannabis firms that are preparing to go public.

1. ManifestSeven

This firm is headquartered in California and it runs health clinics as well as six medical delivery services. It is planning to list its shares before the end of the first half of 2020. The firm has raised more than $20 million and is planning for the next fundraiser. With such financial resources, the company will be able to expand if cannabis is legalized nationally. In early 2020, the firm bought Lady Chatterley Health, a marijuana delivery company located in California.

2. Hemptown USA

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This company is based in Oregon and it produces cannabinoid hemp. It has farms in 3 US states of Kentucky, Oregon, and Colorado. Besides, the company can process as well as extract various components from the herb. Cannabigerol hemp (CBG) sells for more than eight times per kilo relative to cannabidiol (CBD) which is of a lower grade. The corporation has a 40-percent market share for the global supply of CBG worldwide and has huge growth potential.

3. Pure Extracts

This is a marijuana-processing firm based in British Columbia, Canada. Listing of its shares is likely to happen by the end of 2020. This firm has a great brand image and it will soon start packing and selling cannabis products under its label. Also, it has well-established facilities to cater to customers who are now switching to legally manufactured cannabis products. The recreational use of marijuana was legalized by Canada in 2018.

4. Shelter

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This Canadian firm runs three branches including Shelter Brands, Shelter Craft Collective, and Shelter Farmstead. At the start of 2020, the firm finalized an agreement to collaborate with MediPharm Labs, a Canadian firm that extracts, distills and processes marijuana for medical use.

5. Third Wave Farms

This company was formed in 2017 in California, USA and it is a cannabis grower. It has multiple partnerships with companies that are listed in the US stock markets. If the public issue that is planned to happen before 2021 succeeds, it will see the firm collect more than $70 million.

6. KushCo

Cannabis firms planning to go Public

California has a large market for recreational cannabis and has dozens of marijuana firms of different sizes and at various phases of growth. However, none of these companies is authorized to go public and be listed in major stock markets since they are forbidden under the national law. Nevertheless, Kushco is preparing to enter into a major US stock market. The company is located in California and it manufactures packages for different types of cannabis products. It is planning to list on the NYSE or NASDAQ and is currently working on an Initial Public Offering (IPO). If the company is allowed to list, it will be among the first securities to offer an opportunity for corporate investors to invest in the marijuana sector.

7. Harborside

This firm has made its intentions of going public known and is looking to raise more than $40 million via a private issue. Although the firm used to run as a non-profit medical marijuana pharmacy, its leadership is gradually shifting the firm to a profit-oriented entity. The firm plans to undertake a reverse acquisition of a listed firm. Also, it aims to use the funds collected to broaden the existing retail and farming activities.

Several firms are preparing major fund-raisers before they seek to be listed in the securities exchange. All these frantic efforts by cannabis companies to go public is in a bid to expand the legalization of marijuana. However, the major securities markets such as NYSE and NASDAQ don't permit firms that deal with marijuana to any counters. Hence, many firms that handle cannabis resort to buying existing firms that are already trading in the stock markets. But, businesses that wish to go public in markets such as Canada, have no problem doing so because marijuana is legalized there.

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