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US cannabis growers raise $ 1.2 billion in Canada

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By Pierre Couture

Three major US cannabis producers have raised more than $ 1.2 billion in Canada to fund their operations.

In the past week, Massachusetts Curaleaf producers, Acreage Holding of New York and Harvest Enterprises of Arizona have entered into financing agreements to eventually enter the Canadian stock market.

“Forced” to come to Canada

Producer Curaleaf agreed on a C $ 520 million private placement, while Acreage Holding received CA $ 459 million and Harvest Entreprises CA $ 262 million.

Curaleaf shares were introduced Monday on the Canadian Securities Exchange (CSE).

Many US cannabis growers say they are “forced” to come to Canada to raise money, while US laws hinder this type of investment south of the border.

Nine US states allow the use of cannabis for recreational purposes and 22 others have legalized consumption for medical purposes.

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