Hoshi International has raised CAD $18.5 million in a Series A funding round to develop advanced medical cannabis facilities in Portugal and Malta, backed by leading investors and government support.

Target Information

Hoshi International, a medical cannabis company focused on the European market, has successfully raised CAD $18.5 million in its Series A financing round. This funding comes from significant investors including Flora Growth Corp. (NASDAQ: FLGC) and Green Acre Capital, as well as grants from the Portuguese government and Malta Enterprise, complemented by a loan from a tier-1 Portuguese bank. The company plans to utilize these funds to develop a state-of-the-art cultivation and processing facility that complies with EU Good Agricultural and Collecting Practices (GACP) and Good Manufacturing Practices (GMP) in Portugal, alongside an EU-GMP processing and production facility in Malta.

With this financing, Hoshi aims to complete the construction of its facilities and obtain unconditional licenses in both nations. The support from Saxenhammer & Co. has facilitated an efficient process, ultimately leading to this successful capital raise and solidifying Saxenhammer's strengths as a consultant for technology, healthcare, and growth-oriented companies.

Industry Overview

The medical cannabis industry in Europe is experiencing significant growth, driven by increasing legalization and acceptance of cannabis for medicinal use across various countr