Anandia Laboratories Inc., a Canadian independent cannabis analytics, testing and genetics company, closed a private placement financing of C$13.4m at a post-money valuation of C$63m.
The company will use the financing for land purchase and construction of the initial phase of its Cannabis Innovation Centre, including a 20,000 square foot R&D cultivation facility and a 20,000 square foot building to house tissue culture and extraction infrastructure, including the equipment required for its breeding, laboratory analysis and commercial scale extraction activities.
Led by President and CEO Dr. Jonathan Page, Anandia Labs is able to cultivate, extract, analyze, import/export and buy/sell/trade cannabis in any form. The company also uses genomics and plant breeding technology to develop innovative products and next generation cannabis varieties.
Anandia Labs currently operates out of a 5,400 square foot facility in Vancouver, British Columbia and has plans to construct a 40,000 square foot purpose-built cannabis innovation centre in British Columbia during 2018.
CannaRoyalty Corp. (CSE: CRZ) (OTCQX: CNNRF), an active investor and operator in the legal cannabis industry, invested $3.9m in Anandia Labs in February 2017 at a post-money valuation of $18m. The post-money valuation of this current financing represents a growth in value of approximately $7m or 180% for CannaRoyalty shareholders.