Market Overview

Today's Top Marijuana Stock News: Surterra's $65M Raise, GTI's CEO Departure, Avicanna And Daabon

Today's Top Marijuana Stock News: Surterra's $65M Raise, GTI's CEO Departure, Avicanna And Daabon

For a more in-depth look at the emerging cannabis space, check out Marketfy’s 420 Investor or grab a ticket to the Cannabis Capital Conference.

A Capital Raise

Surterra Wellness closed a $65 million round of Series C fundraising to bring the firm’s total capital raised above $100 million. Management will apply the funds toward strategic initiatives in Florida and Texas, including construction of a cultivation space, partnership pursuits and clinical trials for cannabis-based therapies.

Surterra also added to the board Beau Wrigley Jr., current president of Wychwood Asset Management and former head of Wrigley Company.

“We believe in the ability of cannabis to improve quality of life for patients across the country, and we are excited to build a global industry leader for the long term,” Wrigley said in a statement. He led the recent funding round.

A Deal

Benzinga learned about a new multimillion-dollar deal in Colombia: Avicanna Inc. and El Grupo Daabon have entered into joint venture to cultivate and process cannabis.

An Executive Departure

Green Thumb Industries Inc (CNSX: GTII)(OTC: GTBIF) CEO Peter Kadens will hand over the reins to Ben Kovler, the firm’s founder and chairman, Aug. 29.

“Pete now plans to step back from his day-to-day responsibilities as CEO to concentrate on his true passion – philanthropy and social justice for the communities that have been impacted by the war on drugs,” Kovler said in a statement.

Kadens, who stepped down for personal and family reasons, will stay on as a board member.

Related Links:

'It's Like An Onion, This Industry': Inside The Growth Of A Cannabis Media Business

Could Hemp Farming Help Saves The Bees?

Posted-In: Surterra WellnessCannabis News After-Hours Center


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