Green Acre-backed Friendly Stranger raises additional $5 mln

Friendly Stranger Holdings Corp, a Toronto-based supplier of cannabis products and accessories, has raised $5 million in follow-on financing. The deal was backed by Canadian cannabis producers 48North Cannabis Corp and VIVO Cannabis Inc. Canadian cannabis investment firm Green Acre Capital, which in 2018 agreed to invest $10 million in the company, provided an additional $2.5 million. The proceeds will be used to support Friendly Stranger's growth, including opening more cannabis culture accessory stores and launching adult-use retail locations across Canada. Established in 1994 by Robin Ellins and Joy Jacobsen, Friendly Stranger currently operates 10 retail locations in Ontario.