The Daily Hit is a recap of the top financial news stories for Aug. 24, 2023. On The Site High Times Names Fifth CEO in 5 Years Despite a looming deadline with its lender ExWorks, High Times named Shaun Jarvis as interim chief executive officer. The financially troubled cannabis media company saw …

Cannabis payment provider POSaBIT Systems Corp. (CSE: PBIT) (OTC: POSAF) posted a $1.8 million loss for the second quarter of 2023, despite increasing its revenue by 64% year-over-year to $13.4 million. Revenues were also up sequentially from the first quarter of the year, when POSaBIT pulled in $11.5 million for …

Big Plan Holdings teamed up with Evelyn Capital to purchase a cannabis tenant retail building in Monaca, Pennsylvania, from Ascend Wellness Holdings for $3.25 million. The acquisition is a part of the Nashville-based holding company’s strategy to expand its regional cannabis footprint. “We are pleased to partner with fellow Tennessee-based and …

Clinical-stage pharmaceutical Incannex Healthcare Ltd. (Nasdaq: IXHL) is moving forward with a new psychotherapy treatment program using psilocybin, the company announced Thursday. The Melbourne, Australia-based firm will ask the U.S. Food and Drug Administration for the green light to begin clinical trials in the U.S. for its Psi-GAD therapy. Its …