FOCUS-Cannabis companies, betting on a Biden win, ready IPOsPosted by On

NEW YORK (Reuters) – A year ago, Flora Growth Chief Executive Damian Lopez had just spent a chunk of his company’s seed capital buying a Colombian cannabis producer, and was fighting his way through the legal and financial hurdles that have made development of the industry such a challenge over the past decade.

FILE PHOTO: Chemdawg marijuana plants grow at a facility in Smiths Falls, Ontario, Canada October 29, 2019. REUTERS/Blair Gable/File Photo

These days, a boom in sales of his hemp-derived health food and beauty products during the coronavirus pandemic, and the prospect of an easing of marijuana laws in the aftermath of the U.S. presidential election, have him sealing a $30 million funding round and making plans for a U.S. public floatation early next year.

“I think the election will be a huge catalyst,” Lopez said on Wednesday. He was busy planning for the initial public offering (IPO) with investment banking firm Boustead Securities set to be…

Original Author Link click here to read complete story..

News

bettingBidenCompaniesFOCUSCannabisIPOsreadyWin

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.