California-based Omura, a marijuana and hemp flower vaporizer company, raised $5 million, with a portion of the funding coming from Bruce Linton, former CEO and founder of Canada’s Canopy Growth Corp.
The raise, while not major by cannabis industry standards, is significant during the global coronavirus pandemic when investments are more difficult to secure.
Linton, who will join the privately held Omura as a strategic adviser, most recently invested $1 million in Minnesota-based multistate cannabis operator Vireo Health.
Last month Linton announced the creation of a U.S.-based hemp company, Collective Growth Corp., which is awaiting an initial public offering on the Nasdaq.
“Having worked with Bruce for several months, we have benefited from his counsel and expertise as he brings an advantageous set of industry skills and energy to Omura,” said Mike Simpson, Omura’s CEO.
The brand, which stresses that it “does not produce, manufacture or distribute cannabis,” plans to use the capital to expand across recreational and medical markets in the United States and Canada over the course of 2020.
Omura is also partnered with Greenlane Distribution for distribution in the United States.
