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Seattle’s Privateer Launches $100M IPO For Its Canadian Marijuana Company

Their revenue grew 63 percent to $20.5 million in 2017

Tilray, which both grows and sells medical marijuana in Canada, filed papers Wednesday for an initial public offering in the U.S. that could raise $100 million.

The company, a subsidiary of Seattle-based Privateer Holdings, supplies “tens of thousands of patients in 10 countries,” and hopes to capitalize on the pending legalization of recreational marijuana in Canada, its filing says.

Privateer, a holding company that also owns U.S. marijuana brands such as Seattle-based The Goodship and Marley Natural, launched Tilray in Canada in 2014. It later received a license from the Government of Portugal in 2017 to import and produce medical cannabis in the European Union.

 

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