The Daily Hit is a recap of the top financial news stories for Monday, November 25, 2024. On the Site Creditor asks California court to appoint receiver for Gold Flora, citing ‘dire liquidity issues’ The request stems from debts purchased from the now-defunct cannabis distributor Herbl. Read more here. Minnesota …
This story was reprinted with permission from Crain’s Detroit. Michigan regulators want to end the controversial conversion of CBD to THC, a method that’s plagued the state’s legal marijuana market amid basement low prices and shrinking margins. The Cannabis Regulatory Agency issued new proposed rules for the state’s regulated market Monday …
An anticipated lottery originally scheduled for Tuesday morning in Minnesota to determine initial cannabis business permit winners has been delayed indefinitely, after a state judge ruled in favor of several applicants who had filed suit against the state after being culled from the pool of lottery participants. “There’s no lottery …
Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) posted record quarterly revenue in its fiscal fourth quarter and delivered strong annual growth as the Canadian licensed cannabis producer expanded its market presence in Quebec and launched new products. Revenue rose 28% to C$23.4 million in the quarter ended Aug. 31. For the full …
Holders of Acreage Holdings’ (CSE: ACRG.A.U, ACRG.B.U) (OTCQX: ACRHF, ACRDF) fixed shares will likely get nothing when Canopy Growth (TSX: WEED) (Nasdaq: CGC) acquires the U.S. cannabis operator next month, a stark yet unsurprising reversal from the deal’s multi-billion-dollar valuation half a decade ago. A June convertible note offering severely …
Cannabis-infused drinks might be a small product category right now, but it’s forecast to become a multibillion dollar market in just a few years. However, it isn’t regulated cannabis THC drinks sold at dispensaries driving the growth; it’s hemp-derived THC drinks. According to Future Market Insights, the cannabis drinks market …
The California cannabis industry is increasingly underwater with its tax bills to the state, and it appears that the primary tax authority wants to ensure more effective collections. According to the California Department of Tax and Fee Administration, the state industry’s total outstanding tax tab neared $1.3 billion as of …
The Minnesota Office of Cannabis Management will hold its first lottery for recreational cannabis business permits on Tuesday, the agency announced just before the weekend, in an apparent move to fast-track the new market launch. The OCM lottery will be live-streamed on the agency’s YouTube page, the OCM said in …
Two men are hoping for a larger class action lawsuit against Illinois-based hemp vape maker Lifted Liquids (OTC: LFTD) for making products that exceed the legal amount of delta-9 tetrahydrocannabinol (THC). Law360 reported that Josue and Sergio Hernandez filed the proposed class action lawsuit in an Illinois federal court on …
Nova Net Lease REIT (CSE: NNL.U) (OTCQB: NNLRF) plans to sell its cannabis real estate portfolio and wind down operations after struggling with low cash reserves and deteriorating market conditions in the cannabis REIT sector. The Toronto-based company will sell its operating partnership’s Class A units to Bluebird Real Estate …
This story was republished with permission from Crain’s Chicago. A marijuana grower and retailer from Western Illinois is expanding its presence in Chicago, buying three Okay Cannabis stores. Nature’s Grace & Wellness bought the dispensaries in West Town, Evanston and Wheeling from a group that includes Chicago restaurateurs Scott Weiner and …
Green Wednesday and its expected sales spike is just a week away. However, data suggests the cannabis industry’s Black Friday equivalent may be more about timing shifts than actual sales growth, with deeper discounts eating into profits. Sales data suggests consumers are simply shifting their regular weekend purchases to earlier …
The Daily Hit is a recap of the top financial news stories for Thursday, November 21, 2024. On the Site Cannabis stocks up briefly Thursday before plunging on Gaetz withdrawal The potential appointment of a pro-cannabis attorney general had boosted sentiment among cannabis investors. Read more here. Agrify gets $26M …
Cannabis stocks popped briefly on Thursday morning before taking a nosedive after President-elect Donald Trump’s pick for attorney general, former U.S. Rep. Matt Gaetz, announced his withdrawal from consideration for the job. The AdvisorShares Pure US Cannabis ETF (MSOS) – one of the touchstones of marijuana stock trading – opened …
Canadian cannabis manufacturer Ayurcann Holdings Corp. (CSE: AYUR) (OTCQB: AYURF) terminated its planned business combination with Arogo Capital Acquisition Corp. (NASDAQ: AOGO), a special purpose acquisition company, citing failures to meet key regulatory requirements. The Ontario-based company sent Arogo a termination letter stating the SPAC failed to fulfill covenants related …
Nearly 1 in 4 pain patients residing in states where medical cannabis access is legal identify as marijuana consumers. The post Study: Cannabis Provides Sustained Health-Related Quality of Life Improvements in Chronic Pain Patients appeared […]
Two-thirds of older consumers say they use cannabis “to improve or manage a physical health condition,” including chronic pain, depression, anxiety, and sleep disturbances. The post Canada: One in Four Older Adults Have Used Cannabis […]
The Institute is funded by a three-year, $7 million grant from the Illinois Department of Human Services. The post Illinois: State Launches University-Affiliated Cannabis Research Institute appeared first on NORML.
The results are not official until the Canvass Board certifies the vote count next Tuesday. The post Colorado: Voters in Colorado Springs Decide on Marijuana Sales Measures appeared first on NORML.
California NORML, which pushed for the exemption, argued that cannabis smoke exposure does not pose similar risks to respiratory health as tobacco smoke. The post California: Oakland City Council Advances Proposal Exempting Cannabis From Residential […]