Big business invests $2.7bn in cannabis in 2017 – 3 times more than last year

Legal cannabis producers and sellers have raised at least $2.696 billion so far in 2017, several times more than at the same point last year, with more than half of the money pumped into Canadian companies, ahead of an expected full legalization in the country next year.

“While the medical market is expected to continue to grow over the next several years, the size of the coming adult-use market is expected to far exceed that of the medical side,” said Harrison Phillips, vice-president at Viridian Capital Advisors, which closely tracks the booming market.

“Companies have been raising significant amounts of capital, primarily to increase capacity to satisfy the coming surge in expected demand.”

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