New York state authorities have begun what they say will be a sweeping crackdown on the 1,500 or more unlicensed marijuana businesses that have sprouted up over the past year, with surprise inspections and cease-and-desist orders issued at seven retail shops in New York City on Wednesday. The new enforcement …
Toronto-based TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) announced Thursday that it will acquire a Maryland medical marijuana dispensary for $22.1 million in a mostly stock deal, less than a month before adult-use cannabis sales are set to launch in the state on July 1. The acquisition – TerrAscend’s second retail …
Cybin Inc. (NEO:CYBN) (NYSE: CYBN) provided a corporate update outlining access to capital and upcoming clinical milestones. Cybin stated that it had a potential funding of C$70 million funding through a combination of the previously announced common share purchase agreement and current “at-the-market” equity program. Cybin announced at the end …
Massachusetts-based MariMed Inc. (CSE: MRMD) (OTCQX: MRMD) posted a profit in 2022, an anomaly among U.S. publicly traded cannabis companies which combined for billions in losses. CEO Jon Levine and CFO Susan Villare recently sat down with Green Market Report to talk about how the business positioned itself to weather …
Amid growing concerns about the volatility of the cannabis market and its impact on Tilray’s recent downbeat stock price, Tilray’s CFO Carl Merton engaged directly with shareholders and industry enthusiasts last week in an Ask-Me-Anything session on Reddit. Merton, responding to users under the name “TilrayIR,” fielded questions from users …
The Daily Hit is a recap of the top financial news stories for June 7, 2023. On the Site Red White & Bloom to Buy Financially Troubled Aleafia Red White & Bloom Brands Inc. (CSE: RWB)(OTC: RWBYF) is buying Aleafia Health Inc. (TSX: AH)(OTCQB: ALEAF) in a deal that gives …
During a Rhode Island state Senate hearing this week, some of the 60 licensed marijuana farmers begged regulators to increase the number of licensed dispensaries, since the current number of seven is far from enough to handle the amount of cannabis the farms have ready to sell. Rhode Island launched …
San Francisco has apparently settled on a deal for a temporary ban on new marijuana business permits in the city, after an initial proposal to indefinitely prohibit new license applications was walked back. Under the terms of the measure approved unanimously by the city Board of Supervisors on Tuesday, no …
Red White & Bloom Brands Inc. (CSE: RWB)(OTC: RWBYF) is buying Aleafia Health Inc. (TSX: AH)(OTCQB: ALEAF) in a deal that gives RWB 76% of the combined company, leaving Aleafia shareholders with 24%. The company believes there will by $10 million in synergy savings. After experiencing recurring losses, and Aleafia …
Despite the dire situation in California and criticism of the New York adult-use market launch, investor money continues to flow into those states. As of June 2, Viridian Capital Advisors reported that in the last 12 months California led in the total number of investments with 28 total raises, and …
Cannabis real estate investment trust Innovative Industrial Properties Inc. (NYSE: IIPR) is facing more legal fury from its shareholders. The plaintiffs allege that the REIT’s directors neglected to properly vet two of its largest tenants, Southern California-based Kings Garden and Parallel, resulting in considerable financial losses when the tenants became …
On a combined basis, RWB and Aleafia are expected to service approximately 3,000 retail locations in North America. …
Canadian-based psychedelics company Nirvana Life Sciences (CSE: NIRV) has decided to acquire Medsmart Dispensary Inc., which has an exclusive North American license for “SOSA”, a patented herbal medicine used for addiction treatment. Nirvana had announced in November 2022 that it was looking at buying the company, but wanted to perform …
Planet 13 Vice President of Sales and Marketing David Farris describes what makes the company’s experiential retail model so successful, critical factors operators should consider when transitioning to this model, its associated challenges, and much more. …
The legal California cannabis industry is in such dire financial straits that it may need a state-funded bailout if it’s to continue operations after this year, according to one longtime industry insider. Jonatan Cvetko, United Cannabis Business Association The most immediate problem is that hundreds of businesses are already behind …
The lack of meaningful action toward federal cannabis legalization in the U.S. hasn’t stopped leaders from emerging. Green Market Report wants to recognize key leaders withing the industry with its new Notable Leaders in Cannabis program. This program is designed to spotlight individuals who are making a difference in the …
The Daily Hit is a recap of the top financial news stories for June 6, 2023. On the Site Cannabis Retailer Fire & Flower Files for Bankruptcy Protection Canadian cannabis retailer Fire & Flower Holdings Corp. (OTCQX: FFLWF) is seeking creditor protection under the Creditors Arrangement Act, the company said …
A broad group of marijuana companies, cannabis trade organizations, nonprofits, law firms, doctors, ancillary companies, and activists has joined forces in the hopes of influencing a review by the Biden administration which could result in federal marijuana legalization. The group, called the Coalition for Cannabis Scheduling Reform, will try to …
Florida-based cannabis marketing company, SpringBig Inc. (Nasdaq: SBIG), is being sued by Kind+ Inc., a Massachusetts-based cannabis subscription service, for allegedly using their partnership to create a competing business. The lawsuit, filed Monday in Massachusetts state court, asserts that SpringBig failed to uphold a contractual agreement to promote Kind’s cannabis …
As the Biden Administration actively reviews the classification of cannabis under the Controlled Substances Act, a diverse group of cannabis companies and organizations is partnering with scientific and legal experts to launch the Coalition for Cannabis Scheduling Reform. …