Saxenhammer & Co. advises Hoshi International on its CAD $18.5m Series A financing round.
Toronto (Canada), Porto (Portugal) and Munich (Germany), 24.08.2021 – Saxenhammer & Co. acted as financial advisor on Hoshi International’s CAD $18.5m Series A financing round.
Hoshi, a European focused medical cannabis company, has raised CAD $18.5m in a Series A financing round from Flora Growth Corp. (NASDAQ: FLGC) and Green Acre Capital amongst others including Portugal 2020 and Malta Enterprise grant capital along with bank financing from a Tier 1 Portuguese bank. The Company intends to use the funds to build-out Phase 1 of its state of the art, EU-compliant GACP and GMP cultivation, postproduction, and processing facility in Portugal, and an EU-GMP processing and manufacturing facility in Malta. With this financing in place, Hoshi looks to complete construction of the facilities and become unconditionally licensed in both jurisdictions.
The support by Saxenhammer & Co. resulted in an efficient process and in a successful capital raise for Hoshi, demonstrating the strengths of Saxenhammer & Co. as an advisor for Growth companies in Healthcare and Technology.
The Saxenhammer & Co. deal team was led by Dr. Nicholas Hanser (Partner, Head of Technology Investment Banking), who was supported by Fabian Kotek (Analyst). “We are very proud to have advised Hoshi on this immense step towards becoming a market leader in the cultivation and distribution of medical cannabis throughout the European Union”, said Dr. Nicholas Hanser.