Stratford Managers’ clients, Leonovus and The Hydropothecary Corp., have recently been featured in Ottawa media for funding announcements and product awards.
In December 2017, Leonovus raised $13.75 million for its new product, to provide encrypted protection for clients migrating data to the cloud. CEO Michael Gaffney told OBJ that the firm has seen an uptick in interest from potential customers now that its technology is “blockchain-hardened”.
“I think we’re on the right track now. We’ve taken the pieces that were broken and fixed them,” Mr Gaffney says.
The Hydropothecary Corp. was awarded two awards for best new cannabis product at the inaugural annual Canadian Cannabis Awards gala on November 30, 2017. Hydropothecary took first place for its Decarb product, and Elixir earned third place.
They also recently announced they will raise $130 million in a bought-deal placement underwritten by long-time financing partner Canaccord Genuity, amongst others. Hydropothecary expects the deal to close on or around January 30th, 2018. Once closed, this would appear to be the largest public equity deal in Canadian cannabis.
“With the capacity the markets are giving us…now we can start to turn our attention to the rest of Canada,” CEO Sébastien St. Louis says.
Photo by Mark Holleron (OBJ) of Hydropothecary team members, Chief Brand Officer and Co-Founder Adam Miron, CFO Ed Chaplin and Co-Founder and CEO Sébastien St. Louis, from left to right.