ASX-listed pot stocks raised $244.5 million from the market in the 2017-18 financial year — but that’s a drop in the green ocean compared to global activity.

Globally, public medical marijuana makers raised $US3.3 billion ($4.5 billion) in the June half alone with most of the activity coming from Canada, reports cannabis advisory Veridian.

That’s more than triple the $1 billion raised in all of 2017.

And Veridian predicts public and private companies could raise up to $8 billion globally in 2018.

The local number was underpinned by Cann Group’s (ASX:CAN) mammoth $60 million raise at the end of 2017 to pay for the expansion of grow houses in Victoria, as it prepares for cannabis exports.

The total capital raised by private and public cannabis companies around the world. Graphic: Veridian Capital Advisors

>> Scroll down for a whiff of who has been raising the green

Stockhead reviewed the rights issues, placements, convertible note issues and IPOs that took place in the 12 months after June 30, 201, and found some unexpected pinch pennies and spenders.

The top five companies, after Cann, to raise money from the market after they listed were AusCann (ASX:AC8), Botanix (ASX:BOT), Elixinol Global (ASX:EXL), opium manufacturer TPI (ASX:TPE), Algae.Tec (ASX:AEB), and Creso Pharma (ASX:CPH).

AusCann wanted to expand its operations in Chile, where it is already producing marijuana, and Australia, as well as to fund R&D and clinical trials as it positions itself as a drug maker rather than a grower.

Botanix is a biotech and needed the money to fund its dermatitis and acne clinical studies.

Elixinol raised $20 million via an IPO in January.

TPI was in fact using the business to buy a European opiates business, as that is it’s main operation.

It took Alage.Tec four months last year to raise the initial funds to get its Uruguayan adventure underway, which it has since said it wants to list on the ASX, and then two more cap raises to pay for nutraceuticals marketing and cannabis R&D.

Chapmans (ASX:CHP) and Creso (ASX:CPH) announced small cap raises in the new financial year as well, as did and Queensland Bauxite (ASX:QBL) which refrained from tapping the market at all in fiscal 2018.

Only seven of the 24 pot stocks that Stockhead monitors did not raise money from investors.

Algae.Tec, Eve (ASX:EVE), Stemcell United (ASX:SCU) and Creso all had to deal with shortfalls after announcing rights and entitlement issues, and share purchases plans.

ASX code Company Money raised in FY18
CAN CANN GROUP $60m
QBL QUEENSLAND BAUXITE 0
BDA BOD AUSTRALIA $3.2m
AC8 AUSCANN GROUP $35.3m
THC THE HYDROPONICS CO $11m
BOT BOTANIX PHARMA $23m
EVE EVE INVESTMENTS $5.1m
BKL BLACKMORES 0
CPH CRESO PHARMA $15.9m
MXC MGC PHARMA $5m
ZLD ZELDA 0
RGI ROTO-GRO $4.56m
EXL ELIXINOL GLOBAL $20m
1PG 1-PAGE (suspended, delisting) 0
CP1 CANNPAL ANIMAL $6m
MMJ MMJ PHYTOTECH 0
RNO RHINOMED $3.6m
LSH LIFESPOT HEALTH 0
MDC MEDLAB CLINICAL 0
TPE TPI ENTERPRISES $18m
AEB ALGAE.TEC $17.5m
SCU STEMCELL UNITED $2.9m
ESE ESENSE-LAB $2.12m
CHP CHAPMANS $11.35m