Canada’s largest banks are writing large checks to support pot companies, betting weed can mean big business
|01/09/2019||Posted by BusinessMediaguide.Com under General World News||
- Two of Canada’s biggest banks provided an $80 million loan to PharmHouse, a joint venture owned in part by Canopy Growth’s venture arm.
- It’s a sign that Canada’s top banks are “open for business” in the marijuana industry, said Chuck Rich, a partner at the law firm Cassels Brock & Blackwell LLP who advised PharmHouse on the deal.
- Until recently, Canada’s ‘big five’ banks have been reticent to pursue marijuana deals.
Canada’s biggest banks are jumping into the marijuana business.
The Bank of Montreal and the Canadian Imperial Bank of Commerce provided an $80 million loan this week to PharmHouse Inc, read more >>>