Cannabis beer maker Province Brands closes $11 mln Series A
Province Brands of Canada, a Toronto-based cannabis beverage company, has raised $10.95 million in a Series A financing. The round, which brings the company's total funding to more than $15 million, was backed by 91 accredited investors. It was structured as a convertible note. Founded in 2016 by CEO Dooma Wendschuh and CCO Jennifer Dianne Thomas, Province Brands is developing a suite of non-alcoholic, cannabis-based beers and spirits. The company said it is planning to raise a Series B round of $20 million to $30 million to coincide with its listing on the TSX Venture Exchange. The listing will be achieved through a reverse takeover.
15 August 2018•3 mins read
