PRIVATE EQUITY INVESTING
In Cannabis Industry Companies

Three Key Reasons Why You Should Join Us

1. Assess your risk tolerance and time horizon to understand which cannabis-related sectors (“plant-touching” versus ancillary) are right for your firm.
2. Hear about the current status of international, national, and state-level regulation, and about where the next opportunities are likely to come.
3. Understand the unique challenges of recruiting and managing talent in this new industry, which is sometimes compared to the “Wild West.”

• Valuation — what metrics to use and where to find comparables
• How “vice clauses” may delay the arrival of institutional capital
• What to know about the impact of federal bankruptcy laws around cannabis companies
• Minority stake versus buyout
• Small and nimble versus market leader
• U.S. deals versus Canadian deals versus deals in the rest of the world
• Medicinal versus adult-use M&A
• Plant-touching versus ancillary investing
• Opportunities for roll-ups and PIPEs
• Most likely exit routes, from strategic bidder to buyout to Canadian IPO
• Using options and other M&A structures to lock in deals at a later date, contingent on U.S. federal legalization
• What to expect during DOJ antitrust review
• What lessons Canadian legalization offers, including for bankers
• Next opportunities in Europe and Latin America
• State-by-state analysis of the U.S. opportunity
• Characteristics of a solid management team in the regulated cannabis industry
• New technologies, such as online marketplaces like Leaflink, so dispensaries can find product
• The likeliest LPs and lenders …

Recent Middle-Market Cannabis Deals

• Trivergance Investments bought a controlling interest in The Arcview Group, a cannabis industry investor network.
• Curaleaf Holdings agreed to buy GR Holdings (formerly Grassroots), a multi-state cannabis grower that had raised $90 million from undisclosed investors, for about $875 million in cash and stock.
• Jane Technologies, creator of an online cannabis marketplace, raised $21 million in Series B funding from Gotham Green Partnersand Delta Emerald Ventures.
• Merida Capital became a significant investor in Gabriella’s Kitchen, a U.S.-focused consumer packaged goods company operating brands in the cannabis industry and in the mainstream grocery channel.
• Northern Swan Holdings Inc., an investment firm focused on doing deals in the international cannabis industry, completed a $58 million Series D financing led by undisclosed global institutional investors.
• Demetrix Inc., a biotechnology company focused on the production of cannabinoids, secured $50 million in Series A funding led by Tuatara Capital with participation from existing investor Horizons Ventures.
• Jushi Holdings accepted $16-million in the form of cash, stock and convertible promissory notes from Dalitso LLC.

Rob Hunt is a founder of Linnaea Holdings, a private equity firm focused on rolling up California-based cannabis assets. Previously he was the founder of Shingle Hill, a boutique consultancy and market intelligence firm for the cannabis industry. He has more than 14 years of experience in cannabis as an attorney, consultant, operator, and investor. He has also launched other companies such as Tuatara Capital, the largest PE investor in Cannabis & Evergreen Garden Centers, which sold grow equipment to commercial cultivators. To date,  Rob has exited seven cannabis-based investments.

This Capital Roundtable conference in midtown, New York City, is all-business, all-targeted, all-designed to be a completely focused day of practical information and revealing insights about cannabis industry companies. You’ll gain valuable insights from —

• Three informative panel discussions
• Two revealing keynote presentations
• Real-world perspectives from company investors
• Industry outlooks from noted sector experts
• War stories and lessons learned from experienced hands