MJBizMag November-December 2021 - 21

its enterprise software infrastructure. The company said
it will net $14.6 million from the financing.
Akerna indicated that $4.5 million of proceeds from
the capital raise will be used to close the acquisition
of Las Vegas-based software firm 365 Cannabis for
$17 million in cash and stock.
Akerna will pay $4 million in cash and $13 million in
stock to acquire 365 Cannabis with a potential earnout
of $8 million, according to a news release. The acquisition
is expected to close by year-end and is subject to
customary closing conditions.
SEC Accuses Hemp Co-founders
of $15 Million Fraud Scheme
U.S. investment regulators
are accusing two co-founders
of New York hemp company
CanaFarma of scamming
$15 million from investors and using at least $4 million for
personal use.
Securities and wire fraud charges filed by the U.S.
Securities and Exchange Commission allege that
Vitaly Fargesen and Igor Palatnik gave CanaFarma
investors baseless revenue projections and committed
other crimes.
The SEC seeks permanent injunctions, disgorgement
and prejudgment interest as well as civil penalties
against Fargesen and Palatnik.
Cannabis Firm Agrify Buys
Two Sinclair Scientific Brands
Ancillary cannabis
business Agrify in Billerica,
Massachusetts, said it acquired
two marijuana- and hemprelated
equipment and services
brands from Sinclair Scientific
in Troy, Michigan, for at least
$50 million.
The acquired brands are:
* Precision Extraction Solutions, described as
" the industry leader in cannabis and hemp
extraction equipment, technology, lab design and
site planning. "
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November-December 2021 | mjbizdaily.com 21

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MJBizMag November-December 2021

Table of Contents for the Digital Edition of MJBizMag November-December 2021

MJBizMag November-December 2021 - 1
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