KoreConX focuses on helping cannabis entrepreneurs to use Regulation A (RegA+) and Regulation CF (RegCF) to jumpstart businesses, including by accepting credit cards. Cannabis Wiki is also part of this new endeavor
NEW YORK, October 4, 2022 — KoreConX and Cannabis Wiki are now working closely together to help the cannabis sector grow. Through RegA+ or RegCF, these companies can raise up to $75 million or $5 million respectively every 12 months. Cannabis Wiki and KoreConX will start a series of content products to help educate these entrepreneurs.
The cannabis sector has been growing steadily in the past few years. According to Grand View Research Institute, market size was valued at USD 13.2 billion in 2021 and USD 16.7 billion in 2022, with a revenue forecast of USD 102.2 billion for 2030, which would represent a compound annual growth rate (CAGR) of 25.5% from 2022 to 2030.
Derrick Berney, CEO and co-founder of Cannabis Wiki, is excited to see this partnership grow: “No one does what KoreConX does. Their materials, blogs, podcasts, they are really changing the way startups raise capital and the cannabis sector needs it. With their expertise and our years of service to the sector, we are positive we can cause a great effect on the whole ecosystem, create new jobs, expand revenues, and keep everything compliantly done.” Cannabis Wiki has currently over 2 million pageviews/month.
A number of studies show that derivatives from cannabis have been successfully used to treat patients with chronic pain, chemotherapy-induced nausea, and several neurological diseases. As well, Canada and more than two-thirds of the USA states have legalized its recreational use.
Oscar Jofre, CEO and co-founder of KoreConX, is thrilled to start this new partnership. “Cannabis companies need to raise money, and there is plenty of it, both from accredited and non-accredited investors. We can help educate these companies and they can reach their audiences, their brand advocates, and turn them into shareholders in an easy way.”
Founded in 2016, KoreConX offers the first secure, all-in-one platform that manages private companies’ capital market activity and stakeholder communications. With an innovative approach to ensure compliance with securities regulations and corporate law, KoreConX offers a single environment to connect companies, capital markets and secondary markets. Investors, broker-dealers, law firms, accountants and investor acquisition firms, all leverage our ecosystem solution. For investor relations and fundraising, the platform enables private companies to share and manage corporate records and investments: it assists with portfolio management, capitalization table and shareholder management, virtual minute book, security registration, transfer agent services, and virtual deal rooms for raising capital.