Scythian Biosciences is investing $88m directly in Verano and will sell its subsidiary 3 Boys Farm to the cannabis producer in return for another $100m worth of shares.
US-based vertically integrated cannabis company Verano launched on Tuesday with $120m from a funding round led by cannabinoid therapy developer Scythian Biosciences.
Scythian invested $88m in the round while private equity firm Serruya Private Equity supplied the other $32m.
Verano has been formed to consolidate the management of several existing businesses, including cannabis cultivation, manufacturing and retail facilities. The company will also operate dispensaries under the brand name Zen Leaf.
Furthermore, Verano will become the owner of medical cannabis producer…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
