MoCanna, the company behind byMinistry, a cannabis-forward company providing an intersection of cultural, educational and retail experiences, raised $5M in Series A funding.
The round was led by Canopy Growth Corporation (TSX:WEED) (NYSE:CGC) and Cannaglobal.
Founded by longtime architect, entrepreneur and Canadian cannabis investor Lorne Gertner (who also co-founded Tokyo Smoke and PharmaCan) and led by CEO Shauna Levy, MoCanna is a global-focused cannabis platform providing an intersection of cultural, educational and retail experiences.
byMinistry aims to integrate verticals, to the extent permitted by applicable law, including dispensaries, consumption lounges, cultural programming, educational properties, experiential retail platforms and CBD convenience stores. It will also launch an in-house brand of premium adaptogenic and CBD-derived products in both the food and health/wellness categories to be sold throughout North America.
The company plans to open its flagship byMinistry location at 850 Adelaide St. West in Toronto early 2020. It is the first of multiple properties planned to open across North America over the next five years.
byMinistry Toronto will include an 8,000 square foot Consumption_Lounge byMinistry offering a high-design space for patrons to enjoy plant-forward food, drink and products, as well as explore and shop dynamic cannabis-complimentary merchandise. The Toronto location will also feature The_Lab byMinistry, the first culinary school for plant-forward cooking, providing reliable knowledge on responsible cannabis consumption and infusion through classes, workshops and instruction of cannabis-infusion techniques within applicable legislative guidelines. The third environment, The_Pit byMinistry, will offer a space featuring interactive music, art, fashion and cultural programming.
Funds from this investment round will be dedicated to rapidly growing these projects to scale in multiple markets.
byMinistry is compliant with all relevant and updated cannabis consumption regulations and restrictions.
FinSMEs
20/08/2019