A slew of celebrities including Rebel Wilson, Gwyneth Paltrow and Darren Criss invested in California THC beverage brand Cann. Terms of the deal were not disclosed.
TechCrunch
- Paltrow called cannabis the “hero ingredient of the future.“
CNBC
Some other high-profile deals were announced as well:
- Vape outfit Dosist raised $15M from Turning Point, the parent company of Zig Zag rolling papers and several smokeless tobacco brands.
Seeking Alpha - The investors and team behind liquor delivery company Saucey and The Inception Companies, backer of distributor Emjay, have merged the companies into Pacific Consolidated Holdings Group which is billing itself as the world’s largest “vice” company. WW California has more.
TechCrunch - “Last mile” logistics outfit Onfleet raised a $14M Series A.
Press Release - Related: Emily Paxhia and Andres Navia of Poseidon Asset Management wrote a long, granular post on how the cannabis investment firm values companies.
Medium
Meanwhile, several big public companies will be reporting earnings this month.
New Cannabis Ventures
- Analyst Mike Regan says pot stock investors should focus on fundamentals, not emotions, ahead of the election.
MJBiz
Quick Hit
- In Canada, manufacturing and distribution challenges are hampering the much-hyped cannabis beverage market.
Reuters
