Canadian cannabis producer Organigram Holdings Inc. (NASDAQ: OGI) has taken steps to enter the U.S. market. The firm invested $2 million in Open Book Extracts, a wholesaler based in North Carolina that specializes in hemp-derived products. The investment is structured as a convertible note within a larger funding round that …
Tag: Investing
Body and Mind dips back into the red in second quarter of 2024
Multistate marijuana operator Body and Mind Inc. (CSE: BAMM) (OTCQB: BMMJ) recorded a $200,000 loss in its second fiscal quarter of 2024, which ended Jan. 31, while revenues stayed flat year-over-year, the company reported in its most recent financial filing. The net loss is a reversal from the small but …
AFC Gamma backs Florida’s Sunburn Cannabis with $34M
AFC Gamma, Inc. (NASDAQ: AFCG) has injected $34 million into the now-sprawling Florida cannabis market, extending debt capital to High End Holdings, LLC and its subsidiary, Sunburn Cannabis, the companies announced Tuesday. The funds, delivered via two senior secured credit facilities, are earmarked for debt refinancing, working capital, and the …
Secret shopper program aims to keep Massachusetts cannabis companies honest
Massachusetts cannabis companies may want to up their compliance game, given that a long-mandated “secret shopper” program to ensure compliance with packaging and labeling rules is expanding, the state’s acting marijuana czar said over the weekend. “There’s a secret shopper to make sure that the issue is being addressed,” Commissioner …