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 …
Illicit cannabis, imported CBD targeted by new rules from Michigan state regulators
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 …
Minnesota judge delays cannabis license lottery after four lawsuits filed against state
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 revenue surges 43%, nets profit in fiscal 2024
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 …