The Daily Hit is a recap of the top financial news stories for Tuesday, June 11, 2024. On the Site Connecticut governor halts social equity funds, orders review of cannabis council The review comes amid concerns over the council’s transparency and governance practices. Read more here. New York cannabis regulators …
Numinus walks back claims made in press releases
Nearly two months after sending out press releases that crowed about the company’s advancements, Numinus Wellness Inc. (OTC: NUMIF) walked back those claims and blamed its public relations firm for the mistake. Numinus released a statement after the markets closed on Friday, June 7, saying, “The releases were inadvertently disseminated …
Appeals court to hear case on psilocybin use by terminally ill
The Ninth Circuit Court of Appeals is set to hear arguments in August in a closely watched case about whether terminally ill patients have the right to use the psychedelic drug psilocybin under federal and state “right-to-try” laws, Law360 reported. The case, Advanced Integrative Medical Science Institute v. U.S. Drug …
Number of the Week: $811 million
$811 million – Value of cannabis capital raises year-to-date Cannabis capital remains challenging to get, and it’s reflected in the amount of raise activity the industry has seen in the first part of 2024. As of the end of May, cannabis companies had raised $811 million, down 22% from the …