UK Medical Cannabis, CBD Company Cannaray Announces Series A Funding

Medical marijuana and CBD company Cannaray announced the closing Monday of a 7.8-million pounds sterling ($9.64 million) Series A funding round.

Cannaray is “perfectly poised” to take advantage of the current market and has the infrastructure to become one to Europe’s leading medical cannabis and CBD brands, the company said. 

Cannaray said it expects the global medical cannabis market set to grow to over 60 billion pounds by 2026. 

Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.

Brexit-Proof With Ireland Setup

Cannaray’s strategy has been made "Brexit-proof" with the setup of a subsidiary in the Republic of Ireland, and the company said it is progressing with plans to establish distribution and manufacturing capabilities within the U.K.

Cannaray also has an alliance with Newey Limited, the largest horticultural company in the U.K. with 4 million square feet of greenhouse space.

Related Links:

Innovative Industrial Properties Provides Additional $8M To Ascend Wellness Subsidiary

Cannabis M&A: Therapix Biosciences, Destiny Biosciences Plan Stock-For-Stock Deal

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CannabisNewsFinancingMarketsBrexitCannarayCBD
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Cannabis is evolving – don’t get left behind!

Curious about what’s next for the industry and how to leverage California’s unique market?

Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!

Get your tickets now to secure your spot and avoid last-minute price hikes.