Canadian cannabis retailer Tokyo Smoke is closing 29 stores as part of the company’s restructuring. Tokyo Smoke has also obtained an Initial Order under the Companies Creditors Arrangement Act (CCAA) from the Ontario Superior Court of Justice. The company said it has secured financing to continue operating while it restructures …

Red Light Holland Corp. (CSE: TRIP) (OTCQB: TRUFF) released its financial results for the first quarter ending June 30, 2024. Red Light‘s revenue grew from last year’s C$1.2 million to this year’s C$1.5 million for the first quarter. The comprehensive net loss was trimmed to C$1.4 million in the quarter …

The Daily Hit is a recap of the top financial news stories for Wednesday, August 28, 2024. On the Site Congressional report finds rescheduling won’t fix cannabis banking situation The report notes that financial institutions can already bank cannabis businesses, however they must take additional compliance steps to do so. …

Rhode Island marijuana regulators are considering rolling back the state’s strict cannabis product packaging rules, which currently only allow for simple plain colors including white, black, gray and navy blue. During a meeting on July 30, the state Cannabis Control Commission was given new options to allow brands to use …