Aqualitas closes 2nd round of financing

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By Ted Liu

Aqualitas Inc., a company formed for the purpose of making an application to Health Canada to produce and sell high-quality strains of medical grade cannabis based on its aquaponics platform, has raised $623K (priced at $1.00/share) in a final close, bringing the total amount raised for the second round to $1.196M.

Incorporated in October 2014, Aqualitas had previously raised $461K (priced at $0.50/share) in 2015.

Finleaf Technologies Inc. was formed in January 2016 to provide Aqualitas Inc. with a related company for its research and development, which may have commercial viability beyond the cannabis industry. Finleaf is actively pursuing research and development projects related to cannabis products, production and aquaponics processes. Finleaf Technologies Inc. has been awarded two research grants: one from Innovacorp, and a Science and Technology Assistance grant from IRAP-NRC.

photo credit: Aqualitas