Tokyo Smoke, a Toronto, ON, Canada-based premium cannabis-oriented lifestyle brand, raised CAD$3m in funding.
Backers included W. Brett Wilson (iBanker, CBC Dragon Emeritus), Chuck Rifici (co-founder Nesta Holding Co, co-founder of Canopy Growth Corp) and Globalive Capital Inc. (founders of Wind Mobile).
The company intends to use the funds for product development, growing the management team and international expansion, with the first foray into the U.S. market slated for spring 2017.
Led by co-founder & CEO Alan Gertner, Tokyo Smoke is a lifestyle brand that aims to bring design to the cannabis space via immersive experiences and designer retail spaces with coffee, clothing and designer products. In collaboration with Aphria Inc., (TSX VENTURE: APH) (OTCQB: APHQF), one of Canada’s largest licensed producers of medical marijuana, the company will release four branded cannabis strains in the first quarter of 2017.