CannaKorp Raising $2mm

CannaKorp, the Massachusetts-based manufacturer of a patent-pending cannabis pod-based vaporizing system, the CannaCloud, is raising $2mm in a private placement for accredited investors, according to a Form D SEC filing from July 5th. The equity offering follows earlier capital raises of $1.6mm in a convertible note seed round in early 2016 and an oversubscribed $4.1mm Series A equity round in Q4.

According to the filing, the company has already raised $411,400 since June 21st from 6 investors, including $51,900 from a non-US investor. CannaKorp will earn revenue not only from the sale of the CannaCloud devices but also from royalties related to the pre-ground portion packs sold by licensed cannabis companies.

Exclusive article by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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