The UK-based medicinal cannabis company is targeting a major expansion.
The Series B funding round closed at USD$37.6m (~£34.84m).
The case has been opened following the filing of a collective lawsuit against the company in Spain in July.
Pharma Tech Holding has obtained a capital commitment agreement from LDA Capital.
The financing facility will fund the execution of MGC Pharma’s business commercialisation strategy in the UK and US.
“I might be off the mark, but I don’t think this was an intended Ponzi Scheme,” Willem van der Merwe.
“This partnership with Tilray Brands is a game-changer for HEXO,” said Charlie Bowman, CEO of HEXO Corp.
Cannaray recently closed a £10 million funding round to expand its medical cannabis arm.
The non-dilutive financing was facilitated by Pelorus Equity Group.
The company says it is on track to becoming Europe’s fastest-growing cannabis distributor.
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