Canadian pot companies raise $700 million from investors

Canadian marijuana companies have attracted roughly $700 million in financing since investor interest exploded in the fall amid heightened anticipation of a recreational pot market, according to new research by a financial services firm.

Analysts at Canaccord Genuity tracked the capital raised by public and private companies operating in the country's nascent cannabis market since Health Canada opened the industry to commercial grow-ops in 2014.

There were several flashes of investor interest in the first two years, but none of it matched the frenzy that began in the third quarter of 2016 before hitting a feverish pitch in the final three months of the year.

The industry drew more than $150 million in primarily equity financing during the three months ending in September, according to Canaccord, which now covers six licensed cannabis producers.

Canadian cannabis companies raised well over $350 million in the fourth quarter, with financing levels approaching the...

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