The Daily Hit is a recap of the top financial news stories for Thursday, August 8, 2024. On the Site L.A. County watchdog agency: City’s cannabis licensing, social equity needs reform A civil grand jury reported that some licensed L.A. dispensaries are so desperate for revenue that they’ve begun breaking …
Calgary-based High Tide Inc. (Nasdaq: HITI) secured a new $15 million line of credit with unnamed institutional lenders, the Canadian cannabis company announced Thursday. The loan agreement calls for 12% interest and for repayments to be made on a quarterly basis until the full amount comes due in July 2029, …
A new and scathing watchdog report released in late June blasted the Los Angeles Department of Cannabis Regulation and its oversight of the cannabis social equity program, concluding that the agency “is doing an inadequate job assisting those the program was intended to help.” Instead, the report, which was issued …
A huge marijuana product recall was issued Tuesday by the Missouri Division of Cannabis Regulation for more than 2,600 products from Twenty Twenty that were found to have not gone through all required safety testing. The brand’s parent company, NGWMO LLC, is cooperating with authorities in the recall, according to …