NEW YORK, April 10, 2019 (GLOBE NEWSWIRE) -- Northern Swan Holdings, Inc. (“Northern Swan” or “the Company”), an investment firm focused on making transformative investments in the international cannabis industry, announced today the successful completion of a USD$58 million Series D financing, bringing the total amount of capital raised to date to USD$96 million. The oversubscribed round, which represents the largest capital raise to date for a Latin American-focused cannabis operation, was led by leading global institutional investors with a demonstrated track record in the industry.
“The closing of our Series D round validates our investment thesis, providing the capital necessary to fund rapid expansion and to capitalize on our key competitive advantages as a first-mover in the global medical cannabis market. Federally compliant in all jurisdictions in which we operate, Northern Swan is well-positioned to expand and diversify our cultivation assets as well as accelerate our mission to revolutionize the trade flows in the global medical cannabis industry,” noted Kyle Detwiler, CEO of Northern Swan.
Northern Swan will use the new funds to expand its existing Latin American operations, to invest in new low-cost, large-scale cannabis cultivation and processing centers and to build out distribution channels and brands in Europe, Latin America and North America. Northern Swan has invested in several companies spanning the global cannabis value chain including Clever Leaves, a leading vertically integrated licensed producer of medical cannabis in Colombia, Cansativa GmbH, a German cannabis distribution company and Lift & Co., a Canadian marketing and data company.
Cowen served as exclusive placement agent for the financing.
About Northern Swan
Northern Swan is an investment firm focused on transformative investments in the international cannabis industry in geographies where it is federally legal. With offices in New York, Toronto, Bogota, and Frankfurt, Northern Swan invests in and assists emerging companies in developing low-cost production capacity and distribution capabilities to improve distribution globally and generate brand value. Prior to founding Northern Swan, its management team has collectively invested in excess of $3 billion of capital at Blackstone, KKR, and Och-Ziff.
Forward-Looking Information
This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, the Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors.
Media Contact:
Gretchen Gailey
KCSA Strategic Communications
+1 347-487-6186
ggailey@kcsa.com