Tokyo Smoke completes $6M Series B round

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By Ted Liu

Tokyo Smoke has completed oversubscribed Series B round financing, raising approximately $6 million in two closings from investors led by Aphria (TSX: APH) and Green Acre Capital Fund I LP with participation from private investors from Canada, USA, UK and Switzerland.

Tokyo Smoke also received strategic investment from Paul Rowan, a design pioneer in the housewares industry and a founding partner at Umbra, a global product design company with presence in over 120 countries. Other notable investors include W. Brett Wilson, Charles Broderick.

Tokyo Smoke held first close in July 2017. Wildeboer Dellelce LLP acted as legal counsel to Tokyo Smoke.

Tokyo Smoke intends to use funds to continued retail expansion, marketing and strategic acquisitions, accelerating Tokyo Smoke’s vision of becoming a category-defining cannabis brand. Tokyo Smoke aims to be at the forefront of this modern cannabis retail experience

“We are incredibly grateful for the support from investors in this round and their show of confidence in Tokyo Smoke. Having raised over $10 million in the past 10 months, this funding will further empower us to take great strides in our retail expansion and put us closer to achieving our goal of building the largest cannabis related retail infrastructure in Canada,” says Alan Gertner, co-founder and CEO of Tokyo Smoke.

“With the recent announcement in Alberta, and strong operational partners in the region, we look forward to the possibility of dispensing and on-site consumption. Ontario’s government-run model is something we long prepared for, and our in-store operations will be readied to take on a new dimension,” said Gertner. “The Tokyo Smoke team is excited to take advantage of the opportunities that abound as more provinces announce retail and distribution plans, meeting the shifting landscape with energy and optimism.”

photo credit: Tokyo Smoke