Merrco Payment completes new financing

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By Ted Liu

Merrco Payment Inc., a Calgary based Cannabis e‑commerce and government compliance payment company, has closed a new round of financing, raising $[mepr-active rule=”374″ ifallowed=”hide”]##Subscribe today to see our research on this and all other subscriber ONLY items##[/mepr-active][mepr-active rule=”374″]10 million from 81 Canadian investors, by way of private placement of 10 million common shares priced at $10 per share. Canaccord Genuity Corp. and Fidelity Clearing Canada ULC acted as placement agents. Borden Ladner Gervais LLP acts as legal counsel to Merrco Payment.

Incorporated on December 13, 2016, Merrco Payment closed its first round of private financing in April 2017, raising $4,405,000 at a price of $5.00 per share from 52 Canadian private investors and one investor from Bermuda.[/mepr-active]

Merrco is a secure payment gateway with fully customizable compliance controls to protect the integrity of highly regulated industry. Merrco’s payment gateway technology provides a fully customizable method to regulate a direct to-consumer cannabis mail order system in Canada. The system ensures cannabis can only be sold to Canadians legally allowed to purchase, while eliminating any entry point for illicit market activity.