Marijuana Cultivator Acreage Holdings Raises $119 Million and Eyes Canada Listing
*By Jacqueline Corba*
Cannabis operator Acreage Holdings closed a $119 million financing round from private investors, the [largest ever in the U.S. marijuana industry](https://www.prnewswire.com/news-releases/acreage-holdings-announces-closing-of-119-million-private-round---largest-in-us-cannabis-history-300684459.html).
"We tried to go after institutional investors and had a fair amount of traction," Acreage Holdings President George Allen told Cheddar on Monday. "But for the most part they were very slow to move onto this opportunity relative to people who have had some personal connection to it. And frankly until they figure out banking reform for cannabis it's very hard for institutional investors to participate."
In May, Acreage expanded its footprint to 13 states by adding [New Jersey to its operations](https://cheddar.com/videos/acreage-holdings-expands-into-new-jersey).
The company will use its latest Series E round to prepare for going public in Canada this fall. Allen said he hopes listing on that country's exchange will be a catalyst for going public in the U.S.
But first, banking and [federal policy will need to change](https://www.brookings.edu/research/banking-regulations-create-mess-for-marijuana-industry-banks-and-law-enforcement/), Allen said.
"It's an unfortunate consequence of where we are with federal policy right now, that you can't take \[public\] a company that is operating legally in compliance with all the state rules," he explained.
To push its message, Acreage tapped Former House Speaker John Boehner and Former Massachusetts Governor Bill Weld in April for its [board of directors](https://www.acreageholdings.com/news-release-board-of-advisors-appointment).
"What everybody is looking for in this industry is some validation that now is the time it's right to get in. Well, what better testimony can you have than somebody that is as plugged in as those two people," said Allen. "We think the time is now."
For the full interview, [click here](https://cheddar.com/videos/acreage-holdings-closes-119-million-funding-round).
After three straight days of gains, investors were skittish Thursday ahead of key inflation data out Friday. Markets are expecting consumer price index data to be higher than expected, with some economists expecting a number exceeding 7%. Chance Finucane, Chief Investment Officer at Oxbow Advisors joins Cheddar News' Closing Bell to discuss today's close, CPI predictions, the Fed's recent announcements about inflation and its taper timeline, Lululemon earnings, and more.
A new bill in Congress shows just how bipartisan cannabis really is. Rep. David Joyce, a Republican from Ohio, teamed up with progressive Rep. Alexandria Ocasio-Cortez on a cannabis expungement bill. Cheddar cannabis reporter Chloe Aiello spoke with the congressman about the legislation.
Rainmaker Games bills itself as a blockchain-based organization founded in the metaverse, built on a new type of gaming ecosystem called play-to-earn. The company announced a $6.5 million seed round after it was founded just this year. Rainmaker Games CEO and founder Will Deane joins Cheddar News' Closing Bell to discuss.
Analysts are all-in on tech giant Apple, issuing bullish ratings this week and calling it a 'safety blanket' and one of the best assets for investors in 2022. This comes as Apple edges closer to a $3 trillion market cap. Mario Stefanidis, Vice President at Roundhill Investments, joins Cheddar News' Closing Bell to discuss why analysts are bullish on the tech giant, how close the company is to hitting a $3 trillion market cap, and more.
Planet made its public debut on December 8, ringing the opening bell at the NYSE in honor of the occasion. With more than 200 satellites in orbit, the company operates the world's largest constellation of satellites, providing daily scans of the entire earth. This helps with everything from agriculture companies monitoring fields and crop health, to FEMA's disaster response, to marine protection programs. Will Marshall, co-founder and CEO of Planet, explains how this milestone will allow the company fulfill its mission of using space to help life here on Earth.
Lindsey Roeschke, travel and hospitality analyst at Morning Consult, breaks down how COVID-19 is impacting the travel sector and what the future of the industry looks like.
