4 giants of the cannabis industry merge into a multinational company

4 American and Canadian cannabis companies, leaders in their respective fields, have announced their merger to create a global multinational.

The future structure, called TILT, has already raised over $150 million in capital and securities. The conglomerate will aim to cover all facets of the cannabis industry, with specializations in technology, cultivation and consumer services.

The capital raised will be used to increase the pace of acquisitions and build up the infrastructure, with a presence in every state that legalizes cannabis.

«Our platform will enable us to enter new markets and grow inexpensively in a short space of time. The only variable is time,» explained Alex Coleman, TILT's future CEO.

The four companies behind the merger are :

• Baker Technologies: supplies cannabis products to over 1,000 dispensaries in 24 US states and Canada. It also offers online ordering, a customer loyalty program and consumer analysis
• Briteside is a manufacturer of prefabricated modular growing units and provides home delivery and subscription services.
• Sante Veritas Therapeutics is on the verge of obtaining its culture license and has just completed construction of its cultivation site in British Columbia (Canada).
• Sea Hunter invests in and operates dispensaries in three US states

TILT should make more than $70 million in 2018, and $200 million in 2019, while being listed on the Canadian Stock Exchange The company will employ over 500 people by the end of 2019, with offices in Boston, Denver and Toronto.

This merger is part of the consolidation phase that the American and Canadian cannabis markets have entered. The United States has now legalized the majority of medical cannabis (plus 9 states for recreational use), and the Canada to legalize cannabis for adults this summer.

The market Canada is ahead of the game on its neighbor. The latest buyout rose to $3.2 billion.