• Daily Marijuana Observer Facebook
  • Daily Marijuana Observer Twitter
  • Daily Marijuana Observer StockTwits
  • Daily Marijuana Observer SA
  • Daily Marijuana Observer Instagram
  • Daily Marijuana Observer Youtube
  • Pinterest Social Icon
  • Daily Marijuana Observer Talk Market

Aphria Leads Tokyo Smoke Up-Sized $6 Million Series B Financing Round

October 24, 2017

 

Funding was oversubscribed by 20%, led by Aphria and Green Acre Capital

 

TORONTO, ON--(Marketwired - October 24, 2017) - Tokyo Smoke, an award-winning lifestyle brand that brings sophistication and design to the cannabis space, is pleased to confirm the final closing of its oversubscribed Series B funding of approximately $6 million CAD. The funds will be allocated to continued retail expansion, marketing and strategic acquisitions, accelerating Tokyo Smoke's vision of becoming a category-defining cannabis brand.

 

"We are incredibly grateful for the support from investors in this round and their show of confidence in Tokyo Smoke. Having raised over $10 million in the past 10 months, this funding will further empower us to take great strides in our retail expansion and put us closer to achieving our goal of building the largest cannabis related retail infrastructure in Canada," says Alan Gertner, co-founder and CEO of Tokyo Smoke.

 

As previously announced, Tokyo Smoke's Series B funding has been led by Aphria Inc., one of Canada's largest medical cannabis producers, and Green Acre Capital Fund I LP, a fund dedicated to strategic investments in cannabis properties. In addition, Tokyo Smoke also received strategic investment from Paul Rowan, a design pioneer in the housewares industry and a founding partner at Umbra -- a global product design company with presence in over 120 countries.

 

Canada is moving at an accelerated pace towards legalization, and that means impactful decisions about the future of distribution and retail are starting to be made. Tokyo Smoke firmly believes that consumers deserve choice, not just in product selection, but also in where those products are sold. A private, highly regulated retail model should serve the interests of both industry and government to achieve a responsible and safe industry, but one that also promotes competition, jobs, and consumer choice. Tokyo Smoke aims to be at the forefront of this modern cannabis retail experience.

 

"With the recent announcement in Alberta, and strong operational partners in the region, we look forward to the possibility of dispensing and on-site consumption. Ontario's government-run model is something we long prepared for, and our in-store operations will be readied to take on a new dimension," said Gertner. "The Tokyo Smoke team is excited to take advantage of the opportunities that abound as more provinces announce retail and distribution plans, meeting the shifting landscape with energy and optimism."

 

About Tokyo Smoke:

 

Tokyo Smoke is an award-winning lifestyle brand that aims to bring sophistication and design to the cannabis space. With immersive experiences and designer retail spaces selling coffee, clothing and designer products, Tokyo Smoke is developing an international reputation as the go-to destination for luxurious, creative offerings within the industry. Tokyo Smoke continues to be the leading Canadian brand in the cannabis space, having recently completed its Series B fundraise, closed on the acquisition of fellow designer cannabis brand Van der Pop, partnered with Aphria Inc. (TSX: APH) or (OTCQB: APHQF)as well as WeedMD (TSX VENTURE: WMD).

Please reload

LATEST NEWS
Please reload

Please reload

DMO

© Copyright 2016-2020 Smoke Show Ventures, Inc.

RSS Feed

Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.