On Thursday, March 11th, Northern Swan Holdings, Inc. (“Northern Swan” or “the Company”), an investment firm emphasizing on making transformative investments in the international cannabis industry, officially announced the successful completion of a USD$58 million Series D financing, which in turn brings the total amount of capital raised till date to USD$96 million.
As per reports, the latest oversubscribed round was led by leading global institutional investors with a demonstrated track record in the industry. It also reportedly represents the largest capital raised till date for a Latin American-focused cannabis operation.
Speaking on the announcement, Kyle Detwiler, CEO of Northern Swan said, “The closing of our Series D round validates our investment thesis, providing the capital necessary to capitalize on our key competitive advantages and fund our rapid expansion as a first-mover in the global medical cannabis market. As Northern Swan is federally compliant in all jurisdictions in which we operate, we are well-positioned to accelerate our mission to revolutionize the trade flows in the global medical cannabis industry as well as expand and diversify our cultivation assets.”
As per reports, the new funds will be used by Northern Swan to invest in new low-cost; large-scale cannabis cultivation, expand its existing Latin American operations, as well as develop its processing centers while also additionally towards building out distribution channels and brands in North America, Latin America, and Europe.
Previously, Northern Swan has made an investment in several companies spanning the global cannabis value chain which includes companies like Cansativa GmbH, a German cannabis distribution company, Clever Leaves, a leading vertically integrated licensed producer of medical cannabis in Colombia, Cansativ and Lift & Co., a Canadian marketing and data company.
