Privateer Holdings – a marijuana private equity investor – has raised million in convertible debt before Tuesday’s elections. Marijuana legalization is on the ballot in nine U.S. states. Many investors rushed to place their funds, but others held back to wait for the election results. Out of the nine states that will vote on legalizing medical or recreational marijuana, California is the most important. it is most populous state is considering the allowance of recreational use. If the measure passes, it is predicted to legitimize portions of a multi-billion-dollar black market and create new opportunities for companies extending from software to pot delivery.
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