Trait Biosciences Completes C$31M Series A Round Led By Btomorrow Ventures, a Corporate Venture Unit of British American Tobacco

CANNANNEW REPORT

(VANCOUVER, BC , July 26, 2021)— Trait Biosciences (https://traitbio.com/), a leading cannabinoid biotechnology research organization, announced that it has completed a C$31 million (US$25.46 million) Series A financing round led by the corporate venturing unit of British American Tobacco, Btomorrow Ventures, and backed by Gotham Green Partners. Viridian Capital has been an advisor to the Company. Other investors who participated in the round consisted of the Company’s previous backers in earlier fundraising rounds. The Vancouver BC-based company noted that the money raised will be used to support its research and development activities in relation to the commercialization of Trait’s proprietary 2XGLY Water Soluble Cannabinoid technology. Research-oriented CBD Trait also plans to use the new funding to advance research and development across various technologies created to improve cannabinoid production methodologies. Peter McDonough, CEO, commented, “Trait is focused on developing technology that provides our business partners with a superior extract to nano-emulsion solutions that are actively used throughout the industry today. Our new technology, scheduled for market launch in 2022, will deliver premium quality, water-soluble cannabinoids for use in a broad range of novel CBD products encompassing, amongst others, beverages, edibles and health and wellness applications.” About Trait Biosciences Trait Biosciences Inc. is a global leader in cannabinoid research, focused on developing technologies that enable the production of safe, high-quality, low cost, predictable, and efficacious CBD products. Our mission is to develop the world’s most comprehensive integrated approach to cannabinoid science, insights, and technology. For more information, visit (https://traitbio.com/). About Viridian Capital Advisors Viridian Capital Advisors (www.viridianca.com) is a financial and strategic advisory firm dedicated to the cannabis market. We are a data and market intelligence driven firm that provides capital, M&A, corporate development, and investor relations services to emerging growth companies and qualified investors in the cannabis sector. Our banking practice, through broker-dealer Bradley Woods & Co. Ltd. (Member FINRA/SIPC), provides capital…

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Source : Trait Biosciences Completes CM Series A Round Led By Btomorrow Ventures, a Corporate Venture Unit of British American Tobacco

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