Daily Hit Archives

StaffSeptember 26, 2023

The Daily Hit is a recap of the top financial news stories for Sept. 26, 2023.

On the Site

Lucy Scientific Mum on High Times Deal

The recent acquisition of High Times Holding Corp. by Lucy Scientific Discovery Inc. (NASDAQ: LSDI) raised many questions – but the company doesn’t appear to want to answer them. The deal was expected to be finalized in two weeks, but that deadline is now in the rearview mirror, and there has been no update. Read more here.

New York Regulators to Issue 1,500 Cannabis Licenses in Upcoming Round

New York regulators are planning to issue roughly 1,500 marijuana business licenses when the upcoming permit application window opens next Wednesday, one of the state’s top cannabis overseers disclosed. That would vastly expand the current licensed New York market. Read more here.

Alaska Eases Rules on Cannabis Ads, Free Samples

Alaska regulators significantly loosened key restrictions that could lead many cannabis businesses to greater profitability simply by letting them advertise in many common venues and offer free samples to customers through legal dispensaries. Read more here.

Dunkin’ Takes E-Cigarette Maker to Court Over Branding

The lawsuit contends that Singh Handicraft Corp.’s branding for its e-cigarettes is strikingly similar to Dunkin’s distinctive design. Specifically, the disposable vaporizers, shaped like an iced coffee cup and a glazed doughnut, display a logo that mirrors Dunkin’s signature orange and pink color palette and rounded font. Read more here.

Organigram Holdings Seeks C$500 Million Financing Approval

Organigram Holdings Inc. (Nasdaq: OGI) (TSX: OGI) is paving the way to distribute up to C$500 million in securities. The company announced on Monday it had filed a preliminary short form base shelf prospectus with Canadian securities commissions. Read more here.

In Other News

Better Health Sciences

Better Health Sciences, a wholly owned subsidiary of TransGlobal Assets Inc. (OTC PINK: TMSH), has acquired 100% of the assets of Synergy Health Services. This strategic alignment augments BHS’ trajectory in the dynamic health and wellness sector, particularly through alignment with BHS’s recent acquisition of Cannascribe. Read more here.

New York

The Syracuse New York mayor Walsh said that the City’s Division of Code Enforcement, with New York State investigators from the State Department of Taxation and Finance and the Office of Cannabis Management, seized illegal products at five stores in the city and closed the shops. Read more here.

San Franscisco

Proprietors of San Francisco cannabis dispensaries say allowing Amsterdam-style consumption lounges would be a positive move, but it would do little to address their biggest problem: There are simply too many shops chasing too few customers, particularly as the city’s tourism industry has taken a hit. Read more here.

StaffSeptember 25, 2023

The Daily Hit is a recap of the top financial news stories for Sept. 25, 2023.

On the Site

Labor Judge Rules Dispensary Must Bargain with Union Despite Election Loss

A federal administrative law judge handed a significant victory to the United Food and Commercial Workers Union in a ruling last week when it ordered a Massachusetts dispensary to negotiate with the union despite the fact that the UFCW lost an election last year to represent the company’s staff. Read more here.

Judge Says Hacienda’s Bankruptcy Case Can Stand

While the banking challenge has been front and center for cannabis companies, bankruptcy court has been another. Due to the federal illegality of cannabis, access to traditional bankruptcy methods and courts has been off-limits. However, the tide may be turning for cannabis companies that find themselves unable to pay their debts. Read more here.

States Reel Amid Cannabis Regulatory Turbulence

The balancing act of overseeing industries once under the grips of an entire government-sanctioned drug war is already a tiring bite to chew. Now, curious developments in Massachusetts and Minnesota have placed state officials under scrutiny over their respective cannabis regulation roles. Read more here.

SEC Sues Disgraced Tree of Knowledge CEO Over Fraudulent Pivot

The U.S. Securities and Exchange Commission has filed suit against a disgraced former CEO of Washington state-based Tree of Knowledge (OTC: TOKI) (CSE: TOKIF), who led his company into millions of dollars of debt over a fraudulent “pivot” in 2020 to the personal protective equipment supply chain at the outset of the COVID pandemic. Read more here.

2023 Notable Leaders in Cannabis: Luna Stower

As a cannabis executive and educator, Luna Stower has been instrumental in building and scaling dozens of cannabis brands. Raised and based in the Bay Area, Stower advocates for social justice in the industry through government relations and give-back campaigns. Read more here.

• Related: 2023 Notable Leaders in Cannabis

In Other News

New Jersey

As New Jersey’s legalized cannabis marketplace enters its next phase of growth, regulators are introducing guidelines for the rollout of cannabis-infused edible products and regulations for medical-based ventures seeking to participate in clinical research, as well as opening up three additional classes of business licenses. Read more here.

Maryland

Some potential cannabis businesses are criticizing the tight turnaround to obtain new licenses to grow, process or distribute marijuana, after the Maryland Cannabis Administration announced applications will open on Nov. 13, with distribution set to start just six weeks later on Jan. 1. Read more here.

California

If signed into law, California’s AB 1207 would make it illegal to use cartoons or depictions of animals and most plants and vegetables on cannabis packaging and advertising. However, the state’s cannabis industry says the bill is written so broadly that it blocks far more than just advertising that appeals to children. Read more here.

StaffSeptember 21, 2023

The Daily Hit is a recap of the top financial news stories for Sept. 21, 2023.

On The Site

Innovative Industrial Properties Gets Investor Lawsuit Dismissed

An investor lawsuit that accused cannabis REIT (real estate investment trust) Innovative Industrial Properties (IIP) (NYSE: IIPR) of knowing about a fraudulent scheme by its tenant Kings Garden was dismissed by a New Jersey Judge. Read more here.

Montana Marijuana Sales Hit New Record in August

Medical and recreational marijuana sales in Montana hit a record high in August of $28.6 million, according to state data, up a notch from July when sales were $28.5 million. Read more here.

Hemp Entrepreneur Named Minnesota Marijuana Czar

The upcoming Minnesota Office of Cannabis Management now has a leader: Erin DuPree, founder of hemp goods store Loonacy Cannabis Co. in Apple Valley that sold low-dose THC products. Read more here.

The Cannabist Company Secures $25M in Private Placement

The Cannabist Company Holdings Inc. (NEO: CBST) (OTCQX: CCHWF) announced Thursday it finalized a private sale deal with institutional investors. The company sold 22.2 million units at C$1.52 each, totaling approximately C$33.8 million (US$25 million). Read more here.

Filament Brings Coca Leaves to Canada From Peru

Magdalena Biosciences, the joint venture between Filament Health (OTCQB: FLHLF) (NEO: FH) and Jaguar Health Inc., has imported coca leaves to Filament’s Vancouver, British Columbia, research facility. Read more here.

C21 Sees Positive Sales Signs as Nevada Continues to Contract

C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) reported its financials for the period ending July 31. The company logged a revenue of $7.2 million, mirroring its performance from the prior year. This comes even as the broader Nevada cannabis market saw a 5% drop in sales. Read more here.

In Other News

Maine

Up to half of the products sold in Maine’s medical cannabis market could be contaminated with pesticides, harmful microbes, yeast and mold, according to two studies released this week. Read more here.

Congress

Republican senators, including the lead GOP sponsor of a bipartisan marijuana banking bill, will soon be introducing new legislation to prevent marijuana from being federally legalized by the Food and Drug Administration (FDA) without congressional approval. Read more here.

StaffSeptember 20, 2023

The Daily Hit is a recap of the top financial news stories for Sept. 20, 2023.

On The Site

Cannabis Stocks Pop on News of SAFER Banking Act

Marijuana stocks shot up Wednesday after news broke that the SAFE Banking Act had been rewritten as the SAFER Banking Act, breathing new life into federal cannabis reform just weeks after the monumental news that the Biden administration recommended the rescheduling of marijuana. Read more here.

Mississippi Releases Revised Medical Cannabis Industry Rules

Mississippi cannabis regulators announced new revisions to industry regulations, with 202 pages of red-lined changes to the former rules released by the state Department of Health on Thursday.Read more here.

Kentucky Hemp Company Purchases Manufacturing Partner

Kentucky-based CBD maker Cornbread Hemp closed on the acquisition of an unnamed manufacturing partner, marking a transition to full vertical integration for the business. Read more here.

Leef Brands Closes Acquisition of Santa Barbara Cultivation Facility

California-based Leef Brands (CSE: LEEF) (OTC: LEEEF), formerly known as Icanic Brands, completed the acquisition of a 1,900-acre ranch in Santa Barbara County for $5.48 million, which the company intends to transform into “one of the largest biomass cultivation sites in California.” Read more here.

Enveric Receives Patent for Psilocybin Molecules

Enveric Biosciences (NASDAQ: ENVB) announced that the United States Patent and Trademark Office issued U.S. Patent No. 11,752,130, titled “Carboxylated Psilocybin Derivatives and Methods of Using,” pertaining to the Company’s EVM301 Series of molecules being developed as potential treatments for mental health disorders. Read more here.

Seelos Reports Mixed Results From Phase II Ketamine Study

Seelos Therapeutics, Inc. (Nasdaq: SEEL) announced top-line data demonstrating clinically meaningful treatment effects across multiple endpoints and a well-tolerated safety profile from the double-blind, placebo-controlled cohort (Part 2) of its Phase II study of SLS-002 (intranasal racemic ketamine) for Acute Suicidal Ideation and Behavior (ASIB) in adults with Major Depressive Disorder (MDD). Read more here.

In Other News

Congress

Members of the U.S. House of Representatives, Oversight and Accountability Committee voted 30-14 today in favor of bipartisan legislation, H.R. 5040: The Cannabis Users’ Restoration of Eligibility (CURE) Act, which expands federal employment and advancement opportunities for those with a history of past cannabis use. Read more here.

Oklahoma

The Oklahoma Medical Marijuana Authority seized around 14,000 marijuana plants and 4,850 pounds of marijuana earlier this week. Not only did they seize thousands of pounds of illicit marijuana, but five businesses were also shut down as a result of the investigation. Read more here.

Nevada

On Tuesday, the Nevada Cannabis Compliance Board (CCB) approved a conditional license for a cannabis consumption lounge on the AREA15 campus, which houses popular attractions such as Meow Wolf’s Omega Mart, Illuminarium, and a recently announced Universal Halloween-themed park. Read more here.

StaffSeptember 19, 2023

The Daily Hit is a recap of the top financial news stories for Sept. 19, 2023.

On the Site

Columbia Care Changes Name to The Cannabist Company

Columbia Care Inc. (NEO: CCHW) (OTCQX: CCHWF) is changing its legal name to The Cannabist Company Holdings Inc. as it aligns more closely with its retail store name. The company is rebranding to The Cannabist Company and is also changing its trading symbols on the CBOE Canada to CBST and CBST.WT, respectively, for the common shares and warrants. Read more here.

BZAM Lays Off Over 90 as TGOD Merger, Restructuring Finalized

Canada-based BZAM Ltd. (CSE: BZAM) (OTC: BZAMF) announced another round of layoffs despite the completion of its merger with The Green Organic Dutchman. The company let go more than 90 employees at two of its facilities in British Columbia and Ontario as part of its long-term plan to turn around the fortunes of both businesses. Read more here.

SEC Sues Texas Maker of Hemp CBD Inhalers

In the suit, filed on Sept. 18 in U.S. District Court for the Northern District of Texas, the SEC charges that both Rapid Therapeutic Science Laboratories Inc. and its founder and CEO, Donal Schmidt Jr., were guilty of various securities violations and fraud. Read more here.

Subversive Capital Advisor Launches New Cannabis ETF

Subversive Capital Advisor is launching its sixth exchange-traded fund (ETF) – Subversive Cannabis ETF (Ticker: LGLZ) on Cboe BZX Exchange. LGLZ will be an actively managed ETF that is expected to begin trading on Sept. 19. Christian H. Cooper will act as the ETF’s portfolio manager. Read more here.

Oregon Pauses Pathogenic Mold Testing Requirement

Oregon cannabis authorities changed course on a mold testing requirement for commercial marijuana after a court last month put a 180-day pause on rules established by regulators earlier this year that led to several cannabis product recalls due to testing failures. Read more here.

In Other News

Planet 13 Holdings

Planet 13 Holdings Inc. (CSE: PLTH)(OTC: PLNHF) completed its previously announced plan of arrangement pursuant to which the company was continued from the jurisdiction of the Business Corporations Act (British Columbia) and domesticated under the Nevada Revised Statutes to the State of Nevada. The company’s common stock ticker symbol on the OTCQX U.S. market changed to PLNH. Read more here.

New York State Department of Health

The New York State Department of Health issued a warning on Sept. 19 that synthetic marijuana sold in the Mohawk Valley has been found to contain opioids. The office of Drug User Health’s lab toxicology tests confirmed that two samples of synthetic marijuana, often known as K2 and Spice, were contaminated with five Novel Psychoactive Substances, including two potent synthetic opioids. Read more here.

Vermont

Vermont’s cannabis marketplace is about to mark its first year in operation. Retail sales for the current fiscal year are projected to top $100 million, generating more than $20 million in new state revenue. Read more here.

StaffSeptember 18, 2023

The Daily Hit is a recap of the top financial news stories for Sept. 18, 2023.

On the Site

Workers Strike at Curaleaf Arizona Dispensary

Some workers at a Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) dispensary in Phoenix have gone on strike as of Friday, in an attempt they say to force company executives to the bargaining table. Read more here.

Mydecine Attempts to Raise Money With New Prospectus

Psychedelics firm Mydecine Innovations Group Inc. (NEO:MYCO) (OTC:MYCOF) (FSE:0NFA), which is still in the pre-revenue stage, announced a plan to offer 18.75 million additional shares for distribution at 20 cents apiece, in an attempt to raise $3.75 million. Read more here.

Cannabis Regulators Ask Congress to Close Hemp Loopholes in 2023 Farm Bill

The Cannabis Regulators Association (CANNRA), a nonpartisan association representing cannabis and hemp regulatory agencies from 45 member states and U.S. territories, sent a letter on Friday urging Congress to consider changes to the 2023 Farm Bill. The three-page letter was penned in order to close loopholes created by the 2018 Farm Bill. Read more here.

Institutional Investors Open Wallets for Columbia Care, Canopy Growth

It seems investor interest in the cannabis sector is returning. Cannabis heavyweights Canopy Growth Corporation (TSX: WEED) (Nasdaq: CGC) and Columbia Care Inc. (NEO: CCHW) (OTCQX: CCHWF) both inked large private placements with institutional investors. Read more here.

New York Battling Judge Over Exemptions to Cannabis Retail Licensing Pause

New York marijuana regulators have spent nearly the past month trying to convince a state judge to allow a handful of conditional adult use retail dispensary (CAURD) licensees to open for business, but as of Friday, nothing the state tried had yet worked, which leaves the Empire State with just 23 operational legal cannabis shops for the foreseeable future. Read more here.

In Other News

Massachusetts

Warning that action is “desperately needed” to address upheaval at the Cannabis Control Commission, the Massachusetts Senate’s top Republican and several other lawmakers urged their colleagues Monday to subject the state’s marijuana regulatory agency to new scrutiny. Read more here.

Oregon

Cannabis in Oregon can no longer be recalled over a pathogenic mold, until a court decides if the state’s zero-tolerance policy went too far. Read more here.

Maine

The agency regulating the sale of medical cannabis in Maine is proposing a new set of rules as providers leave the market in record numbers, despite totaling over $300 million in sales last year. The proposed rules are primarily driven by legislative changes, including the adoption of a two-tiered fine system for violations that, depending on the severity of an infraction, could cost up to $7,500. Read more here.

StaffSeptember 14, 2023

The Daily Hit is a recap of the top financial news stories for Sept. 14, 2023.

On the Site

Canopy Growth Bows out of BioSteel

Canopy Growth Corp. (TSX: WEED) (Nasdaq: CGC) will cease funding for its BioSteel Sports Nutrition unit. Following this, BioSteel has initiated proceedings under Canada’s Companies’ Creditors Arrangement Act. Read more here.

Oklahoma Supreme Court Declines to Rule on MMJ License Fee Hike

The Oklahoma state Supreme Court passed on a chance to rule on the legality of a 2022 bill approved by the state legislature that dramatically raises many medical marijuana business permit fees. The high court instead sent the case back down to a lower district court. Read more here.

High Tide Revenue Increases Again, But Still Losing Money

Canada-based High Tide Inc. (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA) pulled in record revenue of C$124.4 million and free cash flow of C$4.1 million, but still posted a C$3.5 million loss in its third quarter, which ended July 31. Read more here.

MAPS Inches Closer to Federal New Drug Application for MDMA

The Multidisciplinary Association for Psychedelic Studies announced the successful completion of Phase 3 clinical trials for an MDMA treatment to help patients suffering from post-traumatic stress disorder, and said it brings the group a major step closer to filing a federal request to bring the treatment to market. Read more here.

Green Market Report Names New York Cannabis Award Winners

Navigating the New York cannabis market these days requires resilience and creativity – just a few of the characteristics shared by the winners of the first ever Green Market Report New York Cannabis Awards. The awards were announced at the GMR New York Cannabis Summit in New York City on Sept. 13. Read more here.

In Other News

Eastern Band of Cherokee Indians

Over the next few weeks, hundreds of medical cannabis patient cards will be headed to North Carolinians who’ve applied to the Eastern Band of Cherokee Indians medical cannabis program. The EBCI’s Cannabis Control Board’s application form requires documentation of one of 18 conditions and a health professional’s signature. More than 750 people have applied. Read more here.

New York Cannabis Growers Showcase

Saratoga Springs’s first Cannabis Growers Showcase, which took place Sunday, Sept. 3 and Tuesday, Sept. 5 returned over $70,000 in gross sales, city Accounts Commissioner Dillon Moran said. Nine farms presented their products in addition to a processor – who essentially makes edible goods and drinks – during the Saratoga Springs showcase, which returned more than 300 transactions on each of its first two days. Read more here.

Oaksterdam University and REEFORM

Oaksterdam University has forged a partnership with the socially conscious cannabis brand REEFORM to offer scholarships aimed at rehabilitating the lives of those beleaguered by the shadows of Cannabis Prohibition and the overarching War on Drugs. Read more here.

StaffSeptember 13, 2023

The Daily Hit is a recap of the top financial news stories for Sept. 13, 2023.

On the Site

Colorado Marijuana Sales Surge in July After Earlier 2023 Dip

The Colorado marijuana market appears to have gotten a slight summer bump this year, with sales surging to $131.2 million in June and then $137.3 million in July, after slumping in the winter and spring to the lowest point in four years. Read more here.

New Mexico Hits New Sales Record With $48 Million in August

New Mexico’s cannabis market hit a new record high in August with a sales total of $48.2 million in cannabis sales, including $34.7 million in recreational and $13.5 million in medical, according to state data. Read more here.

August Worst Month for Missouri Marijuana Sales Since Market Launch

The Missouri marijuana market posted a strong $119 million sales total for August, but sales were actually down in the Midwest state to the lowest level since adult-use sales began in February, when the market sold $102.9 million. Read more here.

California Bill Legalizing Cannabis Cafes Awaiting Governor’s Signature

A bill that would let California marijuana stores tack on a new business model with “cannabis cafes” – letting them sell nonalcoholic food and drinks, host live music, and set up other customer attractions – sailed through the state legislature and is now waiting for Gov. Gavin Newsom’s signature. Read more here.

In Other News

Connecticut

The state agency tasked with regulating the cannabis market has hired the former CEO of Connecticut’s first licensed cannabis grower to lead its cannabis division. Jennifer Mandzuk worked with Theraplant from 2014 until January, according to her resume posted on LinkedIn. Read more here.

HS Wholesale

An Illinois vape distributor urged a federal court to force a similarly named rival in Tennessee to change its website domain and online name, saying in its trademark infringement lawsuit that they are “confusingly similar.” According to the complaint, Tennessee-based HS Global Distribution LLC has sold e-cigarettes and related products online under “H&S Wholesale” since 2021, a name that’s “virtually identical” to that of HS Wholesale Limited’s trademark. Read more here.

StaffSeptember 12, 2023

The Daily Hit is a recap of the top financial news stories for Sept. 12, 2023.

On the Site

New York Regulators Sign Off on Oct. 4 Licensing Launch During Contentious Hearing

New York regulators formally signed off Tuesday on opening the next round of both recreational and medical marijuana business licensing on Oct. 4, with hopes the move could lead to much-needed market progress. Read more here.

More Licensing Wrinkles in Alabama

Yet another wrinkle has arisen amid Alabama’s attempts to sort out its ongoing and contentious medical marijuana licensing process, with some stakeholders claiming they were now wrongly discredited as having owners with felony convictions. Read more here.

Lucy Scientific Acquires BlueSky Wellness in All-Stock Deal

Lucy Scientific Discovery Inc. (NASDAQ: LSDI) has announced its acquisition of hemp maker BlueSky Wellness in another all-stock deal, hot on the heels of purchasing rights to cannabis brand, High Times. Read more here.

International Star Eyes Cannabis-Themed Entertainment

International Star Inc. (OTC: ILST) announced today its purchase of a 20% stake in a new film production firm, B Studios. The latest foray is part of ILST’s strategy to broaden its presence in the cannabis-themed entertainment sector, according to a news release Monday. Further details regarding the transaction will be provided in subsequent announcements. Read more here.

GMR Hosts First New York Focused Summit on September 13

Green Market Report is hosting its first New York-focused Summit. The program for this event is unique in that it follows the New York supply chain featuring speakers from each level of licensing beginning with cultivators and ending with investors. Read more here.

In Other News

U.S. Virgin Islands

The Office of Cannabis Regulations has released new draft rules, which are open for public comment through Oct. 10. A timeline for approval of the rules has not been finalized, and it remains unclear when Virgin Islanders will be able to apply for licenses to legally grow and sell cannabis. Read more here.

RAMM Pharma Corp.

After an exchange of correspondence with the CSE, RAMM Pharma Corp. (CSE: RAMM) decided not to proceed with its previously announced non-brokered private placement. The CSE had responded to the announcement of intent, saying, “the Issuer has nearly $6 million in cash with no apparent immediate need for the private placement.” The company will resubmit its intention to commence a normal course issuer bid. Read more here.

The Bettering Co.

The Bettering Company, a new luxury cannabis edibles brand, received $6.7 million in funding, bringing the company’s total funding to date over $11 million. The Bettering Company will launch sales of its branded THC-infused gummies in fall 2023 in dispensaries across Illinois. Read more here.

StaffSeptember 11, 2023

The Daily Hit is a recap of the top financial news stories for Sept. 11, 2023.

On the Site

Trulieve Files Racketeering Lawsuit Against Former Employees, Vendors in Arizona

Florida-based Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) filed a civil racketeering lawsuit against two of its former purchasing managers in Arizona, as well as five other Arizona cannabis businesses, alleging they engaged in “kickback schemes” that gave the brands access to valuable shelf space at the company’s 21 Arizona marijuana shops. Read more here.

Federal Judge Blocks Arkansas Hemp Restrictions

Hemp-based product makers won a temporary reprieve last week when a federal judge blocked the state of Arkansas from enforcing newly enacted restrictions on intoxicating goods such as delta-8, delta-9, and delta-10 vape cartridges and edibles. Read more here.

Michigan Dispensary Owner Found Guilty of Evading Over $1M in Taxes

A federal jury last week found a Michigan cannabis dispensary owner guilty on multiple counts including evading federal income taxes and obstructing the Internal Revenue Service. Ryan Richmond, the owner and operator of the now-closed dispensary Relief Choices, LLC in Warren, Michigan, is accused of causing more than $1.15 million in tax loss to the IRS between 2011 and 2014. Read more here.

Connecticut Cannabis Sales Climb to $25M in August, Testing Capacity Questions Arise

The Connecticut marijuana market saw a decent sales bounce in August to almost $25 million, but with one of its two cannabis testing labs shuttered in March, questions abound about whether the state is in need of more labs to keep up with its steadily growing marijuana market. Read more here.

Maine Adult-Use Cannabis Sales Top $21 Million in August

Maine had its hottest month yet in August in the recreational marijuana sector, with sales topping $21.6 million, according to figures from the state Office of Cannabis Policy. That brings Maine’s total for the year in the recreational sector to $140.1 million. Read more here.

In Other News

Leafly Holdings

Leafly Holdings (NASDAQ: LFLY) has effected a 1-for-20 reverse stock split of its common stock, par value $0.0001. Leafly’s common stock will continue trading on The Nasdaq Capital Market under its existing symbol LFLY and will begin trading on a split-adjusted basis when the market opens on Sept. 12. Read more here.

Maryland Adult-Use Cannabis

The Maryland Cannabis Administration announced that the first application round for cannabis business licenses will open on November 13. The Administration also announced the number of licenses, by license type, that will be available in the first application round. Read more here.

Virginia

Two hemp businesses and a private citizen are challenging a Virginia law that instituted tougher limits on hemp products in Virginia in federal court, saying the new rules cause financial harm to hemp businesses and interfere in interstate commerce. The law, which went into effect July 1, set the maximum amount of THC in hemp products at 0.3% concentration and 2 milligrams per package. Read more here.

Older Posts

Tilt Holdings Names Conder Permanent CEO

2023 Notable Leaders in Cannabis: Luna Stower

In other news

SAFER Banking Act Approved by Senate Committee

Numinus to Sell C$10M Worth of New Shares Through Equity Program

Small Pharma Sees Promise Pairing DMT Drug with Antidepressants

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Tilt Holdings Names Conder Permanent CEO

2023 Notable Leaders in Cannabis: Luna Stower

SAFER Banking Act Approved by Senate Committee

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