Marijuana Operator Acreage Holdings Announces Landmark $119 Million Funding

New York-based Acreage Holdings appears to have set a record for the largest private funding round ever closed by a U.S. cannabis company, raising $119 million to bankroll acquisitions and list its shares on the Canadian Securities Exchange (CSE).
The vertically integrated, multistate company’s Series E raise surpasses what previously was believed to be the largest private U.S. funding: a $100 million raise by Seattle-based Privateer Holdings in January.
Acreage’s announcement Monday – combined with Tilray’s successful initial public offering on the Nasdaq last week – underscores that investors remain bullish on the marijuana industry’s prospects.
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