$5.5 million for a Swiss cannabis start-up

The latest funding will allow KannaSwiss to materially scale its commercial ethanol extraction operations both in bulk sales of CBD isolate and distillate, as well as in the development, marketing and sales of branded products.  AIM plc's investment will allow KannaSwiss to fund additional production capabilities and biomass intake to meet its existing and rapidly growing customer demand.  The funds will also accelerate KannaSwiss' attainment of ISO 9000 and GMP certification further solidifying the company's leadership position in the market.  KannaSwiss has recently hired two additional chemists to focus on R&D for cannabinoid-enhanced formulations to address cognitive function, PMS/menopause, PTSD, mood enhancement, sleep and immune health.

"This significant investment from Altitude will help solidify us as the leading hemp extraction and product company in Europe," said Ivan Enderli, co-founder of KannaSwiss. "We have already established ourselves as a trusted brand of bulk CBD isolate and distillate and we are focused on expanding our existing product offering to consumers," added KannaSwiss Chief Executive Officer Boris Blatnik. "Swiss manufacturing holds itself to the highest standards, so I am confident that my team's dedication to quality and innovation will produce a leading line of products on the European market."

Earlier this year, Altitude Investment Management, a leading New York-based investment firm focused on the emerging global cannabis industry, opened its office in London and raised $7.4 million for its newly formed UK-based investment company, AIM plc.  The goal of AIM plc is to take advantage of the emerging and fragmented European cannabis marketplace by investing in foundational companies in the industry's supply chain.  With a population more than double that of the United States, a fast-growing CBD/wellness and emerging medical cannabis market, and deregulation steps that are beginning to mirror North America; Altitude believes that it will capitalize on this European early-mover advantage through AIM plc.

"My partners and I have been laser-focused on investing in the legal cannabis industry since 2016. We raised approximately $31 million in our first cannabis vehicle which has been invested in 19 companies across the industry," said Roderick Stephan, co-founder and partner of Altitude. "While the CBD/wellness market is thriving, the medical and legal cannabis markets in Europe are in their infancy. We believe that over the next couple of years, medical cannabis will be generally available across Europe and some countries will also allow recreational consumption. The market is poised for tremendous growth just as it has in the U.S."