Daily Hit Archives - Page 2 of 92

StaffMay 16, 2023

The Daily Hit is a recap of the top financial news stories for May 16, 2023.

On the Site

PharmaCann Store Workers Get 20% Raises in First Contract

More than 100 unionized workers at five Illinois cannabis stores owned by PharmaCann have approved a deal that will give them 20% raises over three years. Teamsters Local 777 declined to say how much workers are currently making. But workers at some other dispensaries are paid hourly wages in the mid- to high-teens. Read more here.

iAnthus Q1 Revenue Drops as Legal Woes Continue to Mount

iAnthus Capital Holdings Inc. (CSE: IAN) (OTCPK: ITHUF) reported a first-quarter decline in both revenue and gross profit, along with a substantial net loss, for the period ending March 31. Meanwhile, the company is grappling with several legal battles that pose risks to its operational future and financial health. Read more here.

SAFE Act Gave Stocks a Slight High, Earnings Harshed That Buzz

Just the whiff of a potential piece of federal banking legislation was enough for cannabis stocks to get a boost. In the run up to the Senate Banking Committee hearing last week, the MSOS ETF started at 5.75 at the beginning of May and jumped to 6.26 on May 8. Read more here.

Planet 13 Reports Q1 Loss, Maintains Nevada Market Share

Las Vegas-based Planet 13 Holdings Inc. (CSE:PLTH) (OTCQB:PLNHF) posted a 3% decline in revenue for the first quarter ended March 31, which it primarily attributed to a significant drop in the average price of cannabis in Nevada. Read more here.

More Earnings:

• Ayr Wellness Revenues Rise in First Quarter
• Glass House Loses $39M Despite Increasing Revenue
• Greenlane Posts Revenue Growth, Product Expansion Despite Gross Margin Dip
• Indiva Posts $1.7M Loss, Focuses on Cutting Costs
• Red White & Bloom Takes Hit on PharmaCo Deal

In Other News

California

Cannabis operators Kiva Sales & Service, Lowell Farms, Nabis, Sunderstorm, and other key industry players in the world’s largest legal market, formally launched Financial Stability for California Cannabis, a new coalition composed of industry stakeholders. Between wholesalers, consumer brands, and producers, the FSCC represents dozens of operators and brands representing roughly 45% of the state’s industry by sales volume, and seeks to raise awareness and offer solutions to severe credit issues that threaten the industry’s stability. Read more here.

New York

When Brian Stark found out his application for a cannabis retail dispensary license was one of the first to be approved in New York, he was thrilled. Then came zoning limbo. Out of the few Long Island towns that did not opt-out of having dispensaries, many of them have local zoning restrictions that make setting up shop nearly impossible, Stark said. Read more here.

Oregon

Anyone hoping to run a cannabis dispensary in Oregon will be required to prove they’ve paid their state taxes before receiving a license or having an existing license renewed, under changes announced by Gov. Tina Kotek on Tuesday. Read more here.

StaffMay 15, 2023

The Daily Hit is a recap of the top financial news stories for May 15, 2023.

On the Site

Green Thumb Industries Facing 10 Federal Complaints from Teamsters

Although the nearly two-week strike at several Green Thumb Industries (CSE: GTII) (OTCQX: GTBIF) facilities by unionized workers has concluded, the Illinois-based multistate operator is still negotiating with the International Brotherhood of Teamsters over employment terms for many of its workers. Read more here.

Cannabis Companies Skymint, 3Fifteen Battle in Receivership

Lawyers entangled in the court-ordered receivership of Lansing marijuana giant Skymint continue to battle over the company’s finances. The alleged trouble stems from Skymint‘s $78 million acquisition of Birmingham-based competitor 3Fifteen Cannabis in April 2022. Read more here.

Columbia Care Sees Revenue Uptick Despite Retail Closures

Columbia Care Inc. (CSE: CCHW) (OTCQX: CCHWF) reported its top-line revenue for the first quarter grew 1% from the same quarter in 2022 to $124.5 million. The growth beat expectations by $1.3 million and was largely driven by strong performance in the East Coast markets, particularly New Jersey, Virginia, and West Virginia. Read more here.

Tilt Pledges ‘Frugality as a Core Value’ After $5M Loss

Tilt Holdings (NEO: TILT) (OTCQX: TLLTF) lost $4.9 million for its first quarter in 2023, a vast improvement from the final three months of 2022, when it lost a whopping $73 million. But that’s only one step in the right direction, intimated the newly minted interim CEO Tim Conder. Read more here.

TPCO Sales Down But So Are Losses

TPCO Holding Corp. (NEO: GRAM) (OTCQX: GRAMF), which does business as The Parent Company, posted a $16.5 million loss for the first quarter of 2023, a solid improvement from the $735 million it managed to burn through in the 24 months before that. Read more here.

More Earnings:

• Auxly Cut Expenses, Achieves Positive Adjusted EBITDA in Q1
• Enveric to Cut Costs, Cannabis Operations
• Fire & Flower Revenues Rise Slightly in First Quarter
• 4Front Ventures Provides Rosy Outlook as it Expands Illinois Operations
• Goodness Growth Ekes Past Expectations
• Restructuring, Strategy Rework Fuel IM Cannabis’ Q1 Profit Boost
• Safe Harbor Offsets $1.4M Loss with $1B Deposit Capacity Increase

In Other News

Pelorus Capital Group

Pelorus Capital Group, a provider of commercial real estate loans for the regulated cannabis sector, announced that $50 million in aggregate principal amount of 7% senior secured notes due Sept. 26, 2026, issued by its private mortgage real estate investment trust subsidiary, the Pelorus Fund REIT LLC, have been assigned an A rating by Egan-Jones Rating Company – the highest rating issued to date in the cannabis industry. Read more here.

CEA Industries

CEA Industries Inc. (Nasdaq: CEAD, CEADW) more than doubled its revenue in the first quarter of 2023 to $4.7 million compared to $1.7 million for the same period in 2022. The increase was primarily attributed to improvements in the company’s supply chain and deployment of project work as it worked through delayed projects from prior periods. Read more here.

StaffMay 11, 2023

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

On the Site

Cannabis Industry Reacts to Senate Banking Committee Taking Up SAFE

The latest iteration of the Secure and Fair Enforcement (SAFE) Banking Act, a bill aimed at resolving financial challenges faced by the marijuana industry, took center stage at a U.S. Senate Banking Committee meeting on Thursday. Read more here.

New York Awards More Retail Licenses, Hears Farmers Cry for Aid

New York cannabis regulators held one of their most sweeping meetings of 2023 on Thursday, a three-hour long hearing in which they added more retail permits and a new testing lab license, debated highlights of newly tweaked industry rules, approved a broad new social equity plan, and heard from several marijuana farmers who warned their businesses are on the brink of collapse. Read more here.

TerrAscend Continues Losing Streak Despite Revenue Increase

TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) continued to post hefty losses to its bottom line in the first quarter of 2023, despite increasing revenue by nearly 43% year-over-year, the sixth sequential quarter in which revenues went up. The Ontario-based multistate operator, which has a footprint in five states, lost $19.2 million in the quarter ending March 31, following a total loss of just under $300 million last year. Read more here.

Leafly Loses Last Year’s Profits in Single Quarter, Despite Layoffs

Leafly Holdings Inc. (Nasdaq: LFLY) reported a $5.4 million loss for the first quarter this year, effectively wiping out the $5.1 million in profit the company turned for all of 2022, despite a 21% reduction in staff and other cost-saving measures. Read more here.

More Earnings:

• Lowell Farms Loses Another $4 Million, CFO Steps Down
• Nova Cannabis’ Private Label Strategy Fuels Positive Q1 Growth, Reduces Net Loss
• Urban-Gro Maintains Rosy Outlook Despite Q1 Revenue Dip

In Other News

Safe Harbor Financial

SHF Holdings, Inc., which operates as Safe Harbor Financial, (Nasdaq: SHFS), financial services and credit facility provider to the regulated cannabis industry, and Five Star Bank, a New York-based subsidiary of Financial Institutions Inc. (Nasdaq: FISI), are partnering to expand crucial access to cannabis banking nationwide. Read more here.

New Hampshire

The New Hampshire Senate has rejected a House-passed bill to legalize marijuana. Just two days after receiving an unfavorable recommendation from the Senate Judiciary Committee, the full chamber defeated the measure in a 14-10 vote on Thursday. Read more here.

VerifyMe

VerifyMe Inc. (Nasdaq: VRME), reported quarterly consolidated revenue of $5.7 million for the three months ended March 31, an increase of 3,416% compared to the same period a year ago, primarily attributable to the acquisition of the PeriShip Global business in April 2022. Read more here.

StaffMay 10, 2023

The Daily Hit is a recap of the top financial news stories for May 10, 2023.

On the Site

New York Regulators Issue Revised Cannabis Industry Rules

New York’s much-awaited revised marijuana industry rules were issued Wednesday by the Office of Cannabis Management, to the delight of stakeholders who immediately began poring over them for significant changes. The new rules are also on the agenda for Thursday’s Cannabis Control Board meeting. Read more here.

Many New York Stakeholders Skeptical of New Illicit Market Enforcement Push

Following a new push by New York Gov. Kathy Hochul to crack down on unlicensed cannabis sellers across the Empire State last week, few in the legal industry expressed optimism that the policy would have the intended effect, with several predicting that the unregulated market would simply pivot instead of giving up. Read more here.

Missouri Cannabis Sales Pass $1 Billion, Connecticut Sales Down Slightly

Missouri and Connecticut both launched adult-use cannabis markets at the beginning of the year, but they’re seeing very different sales trends. Read more here.

Trulieve Cannabis Records Net Loss Despite High Revenue

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) announced a net loss despite significant revenue from retail sales for the first quarter ending March 31. The U.S.-based cannabis giant reported a revenue of $289 million for the quarter, with 95% resulting from retail sales. This missed the Yahoo Finance average analyst estimate for sales of $292 million. Read more here.

More Earnings:

• Some AFC Gamma Clients Having Trouble Making Payments
• NewLake Capital Tenant Issues Cloud Yearly Revenue Growth
• Schwazze Turns a Profit in First Quarter, Continues Expansion
• Verano Revenue Up 12%, Adult-Use Sales in Connecticut Bolster Results
• Village Farms’ Canadian Cannabis Sales Grow

In Other News

New York Conditional Adult-Use Retail Dispensary Licenses

A group of Conditional Adult-Use Retail Dispensary (CAURD) licensees have documented in a letter an “alarming and unacceptable” lack of communication and transparency among state cannabis regulators. The group of seven CAURD licensees, along with the Long Island CAURD Coalition and “several others” who signed anonymously, sent the letter late Tuesday night. Read more here.

Synthetic Cannabis

The state of Vermont is cracking down on synthetic cannabis which officials say is creating confusion in the state’s fledgling legal marketplace. This includes delta-8 and delta-10 products. Read more here.

StaffMay 9, 2023

The Daily Hit is a recap of the top financial news stories for May 9, 2023.

On the Site

New Jersey Governor Signs 280E Cannabis Tax Law

New Jersey Gov. Phil Murphy signed a law on Monday to end the state’s unfair tax treatment of cannabis businesses. The legislation, written by the New Jersey Society of CPAs Cannabis Interest Group, decouples cannabis businesses from federal Internal Revenue Code Section 280E and creates a level playing field for cannabis businesses in the state. Read more here.

Illinois Cannabis Sales Stall in April

Illinois marijuana sales growth flattened last month for the first time since the state legalized recreational cannabis in 2020, hurt by declining prices and out-of-state competition. April sales totaled $132 million, compared with $131.8 million in same period a year earlier. Read more here.

Report: MSOs Bogart Market Share

A recent report from data provider BDSA found that big multistate operators dominate the dispensary shelves in mature markets – despite competition for local brands that have commanded local customer loyalty. Read more here.

Weedmaps Loses $4 Million in Q1 Despite Increase in Clientele

California-based WM Technology Inc., better known as Weedmaps, (Nasdaq: MAPS) shrank its losses to $3.9 million for the first quarter of 2023, from more than $31 million lost in the first quarter a year ago, while also increasing its client base by 12% compared to the same time period. Read more here.

More Earnings:

• Ascend Wellness Revenues, Losses Improve in Q1
• Chicago Atlantic Real Estate Delivers Solid Quarter
• Cronos Group Revenue Slips, Updates 2023 Outlook

In Other News

GrowGeneration Corp.

GrowGeneration Corp. (Nasdaq: GRWG) reported first-quarter revenue fell 30.5% year-over-year to $24.9 million. The chain of specialty hydroponic and organic garden centers with 61 locations across 17 states maintained its revenue guidance for 2023 at between $250 million and $270 million. Read more here.

New York

A New York magistrate judge gave state cannabis regulators more time to respond to discovery demands after they claimed to be nearing a draft agreement with the Michigander who is suing over residency requirements for cannabis licenses, despite plaintiff accusations that settlement talks are “mere delay tactics.” Read more here.

StaffMay 8, 2023

The Daily Hit is a recap of the top financial news stories for May 8, 2023.

On the Site

Trademark Appeals Board Rules Against Cannabis Company in Trademark Case

In a first-of-its-kind decision, the Trademark Trial and Appeal Board has upheld the Controlled Substances Act in a cannabis trademark case. The unanimous board ruled against National Concessions Group, a Denver-based subsidiary of Canadian cannabis consumer goods company SLANG Worldwide (OTCQB: SLGWF), on the grounds that cannabis is a federally illegal substance. Read more here.

Delaware Adult-Use Cannabis Sales May Not Launch Until 2025

Delaware, the latest state to join the adult-use cannabis club, won’t actually begin recreational marijuana sales for another year and a half, at the minimum, and perhaps not until early 2025. Read more here.

California Whistleblower Alleges Millions in Cannabis Diversion by Former Employer

As California continues to grapple with the problem of its cannabis being smuggled as far away as New York City, one longtime West Coast industry insider says authorities have declined to act on information about his former employer, a marijuana executive he said shipped at least $2 million worth of legal cannabis out of state in a roughly 10-month period from 2021 to 2022. Read more here.

Curaleaf, Green Thumb Both Bullish Despite Very Different Financials

Massachusetts-based Curaleaf lost more than a third of a billion dollars in 2022. Chicago-based Green Thumb Industries, by contrast, made $12 million last year and $9 million in just its first quarter of 2023. Read more here.

Florida to Grant Additional Cannabis Licenses for Black Farmers

Florida’s medical marijuana market is poised for expansion following the passage of a bill that extends the renewal of marijuana prescriptions over telehealth and authorizes nearly a dozen additional licenses for Black farmers to enter the cannabis industry. Read more here.

Earnings:

• Innovative Industrial Properties Posts $40 Million Profit in First Quarter
• MariMed Year-Over-Year Profits Sink, But Expansion Continues

In Other News

SAFE Banking Act

Senate Majority Leader Chuck Schumer (D-NY) spoke at a marijuana rally in New York City on Saturday, vowing again to pass federal cannabis banking reform legislation as Congress works to end prohibition. Schumer emphasized his commitment to advancing the marijuana banking legislation with criminal justice provisions included, calling the broader effort to repair the harms of the drug war a “moral responsibility” for Congress. Read more here.

Nova Cannabis & SNDL Inc.

Shareholders of Nova Cannabis Inc. (TSX: NOVC) approved a resolution related to the proposed transaction between the company an dSNDL Inc. (Nasdaq: SNDL) to create a cannabis retail platform in Canada. Read more here.

StaffMay 4, 2023

The Daily Hit is a recap of the top financial news stories for May 4, 2023.

On the Site

Scotts Miracle-Gro Makes Positive Comments On Cannabis

The challenges presented by the cannabis industry are harder to combat than those presented by COVID-19, at least according to the CEO of Scotts Miracle-Gro. During Scotts (NYSE: SMG) latest earnings call, CEO Jim Hagedorn made some fairly positive comments about the cannabis industry, while also delivering an unvarnished assessment of the challenges. Read more here.

Tilray’s SweetWater Inks Mercedes-Benz Stadium Deal

Tilray Brands Inc. (Nasdaq: TLRY) subsidiary SweetWater Brewing Company signed a new partnership with Mercedes-Benz Stadium and the opening of two new branded bars at Atlanta’s premier sports and entertainment venue, which is home to the NFL’s Atlanta Falcons and Atlanta United of Major League Soccer. Read more here.

Green Thumb Industries Agrees to 50% Wage Hike Following Worker Strike

Following an employee strike in Illinois that began just one day before the cannabis holiday of April 20, workers at two facilities owned by Green Thumb Industries have won a 50% wage increase, according to a press release on Tuesday from the International Brotherhood of Teamsters. Read more here.

Alaska ‘Bud & Breakfast’ Cannabis Scam Netted Couple $700k, Feds Say

A married couple from a small town in the far interior of Alaska has been charged with wire fraud in connection with a sham marijuana tourism business that they never intended to launch, federal prosecutors said in a recently unsealed indictment. Read more here.

Earnings:

• Revenue, Losses Down for Jones Soda in First Quarter

• Simply Better Brands Revenue Jumps 254%

In Other News

Eastern Band of Cherokee Indians

In a reverse decision, the Eastern Band of Cherokee Indians’ Tribal Council withdrew its backing of a $64 million loan to support the Tribe’s medical cannabis program. During a meeting on Thursday, Principal Chief Richard Sneed vetoed the council’s initial approval in a multipage letter and called for an “immediate need for an accounting of the money spent to date.” Read more here.

Oregon

Oregon Secretary of State Shemia Fagan will continue in her official duties until Monday, May 8, at which point Deputy Secretary Cheryl Myers will take on oversight of the agency until a new Secretary is appointed by the governor. Fagan resigned after an ethics investigation was announced related to her consulting role for a cannabis company. Read more here.

StaffMay 3, 2023

The Daily Hit is a recap of the top financial news stories for May 3, 2023.

On the Site

Maryland Rec Market Primed for July Launch With Governor’s Signature

Maryland will officially kick off adult-use cannabis sales on July 1 now that Gov. Wes Moore signed a pair of implementation bills into law on Wednesday. The measures, Senate Bill 516 and House Bill 556, will let Maryland’s 102 existing medical cannabis companies begin recreational sales in July, with additional rounds of business licensing to come in 2024. Read more here.

Washington State to Award Unused Cannabis Licenses for Social Equity Program

In an effort to promote diversity in Washington’s cannabis industry, Gov. Jay Inslee signed an amendment into law on Monday authorizing the state’s Liquor and Cannabis Board to award 46 previously forfeited or never used cannabis licenses to social equity applicants this year. Read more here.

Illinois Collected Half a Billion in Cannabis Taxes in 2022

Illinois gets more tax revenue from marijuana than any state but California, pulling in $562 million last year. Michigan, which has a lower tax rate and pot prices but higher overall sales than Illinois, took in $326 million in taxes to rank No. 4, according to data compiled by the Marijuana Policy Project. Read more here.

Regulated Cannabis Collateral Creates Challenges in Compressed Industry

Thanks to lingering federal prohibition, restricted access to banking, biased taxation policies, a pandemic, “unlimited license” jurisdictions, a flourishing grey market, and continuing social and political stigmas, legalized cannabis has also produced many losses and is certain to produce many more. Read more here.

Green Thumb Posts $9M Profit, $249M in Revenue for First Quarter

Chicago-based Green Thumb Industries (CSE: GTII) (OTCQX: GTBIF) posted a $9.1 million profit for the first three months of 2023 against $249 million in revenue, the company reported Wednesday. The slim profit margin follows a $12 million year in 2022 for GTI, which continues to be one of the few multistate operators in cannabis to be announcing profits instead of losses. Read more here.

Other Earnings

• Scotts Miracle-Gro Reports Hawthorne Sales Fall 54%

• Turning Point Revenues Rise Slightly As Zig-Zag Sales Dip

In Other News

New York

Additional penalties and shutting down businesses will be used to crack down on illicit cannabis sales in New York under an agreement reached in the $229 billion state budget. The spending plan, approved on Tuesday, included the provisions as the state’s marketplace for legal cannabis businesses is trying to get off the ground. Read more here.

NBA

NBA players will continue to be blocked from promoting cannabis companies or launching their own brands till at least 2029, according to a new NBA agreement signed last week. That contradicts an earlier report from April — following a verbal agreement between the league and players — that claimed the league was set to allow players to launch their own legal pot companies. Read more here.

StaffMay 2, 2023

The Daily Hit is a recap of the top financial news stories for May 2, 2023.

On the Site

Michigan Turning to State Testing Labs

The Michigan Cannabis Regulatory Agency hopes a new state-run marijuana testing lab can build trust in an industry in turmoil and ultimately root out potential corruption. The Legislature is expected to approve the state budget in the coming weeks, which includes a $4.4 million earmark for the CRA to establish, build and staff its own reference testing lab. Read more here.

Colorado Marijuana Company Cancels New York Entrance, Cites ‘Painful Delays’

Colorado cannabis company Terrapin Care Station decided to reverse course on a previously announced production facility in the town of Auburn, New York, which a company spokesman said was due to delays in getting the broader market operational. Read more here.

‘Dozens’ Line Up for Two First Georgia Dispensary Openings

Despite the restrictive nature of Georgia’s medical cannabis program – and the fact that there are only two dispensaries yet in the entire state – the debut of retail sales was met with jubilation on Friday and “dozens” of patients that swarmed the two shops when they opened for sales. Read more here.

Entourage Health’s Revenue Slips as Losses Mount

Late after the markets closed on Monday, Entourage Health Corp. (TSX-V: ENTG) (OTCQX: ETRGF) announced its financial results in Canadian dollars for the fiscal year ended Dec. 31, 2022. Revenue in the fourth quarter fell sequentially to $12 million from the third quarter revenue of $13 million. Read more here.

In Other News

Wisconsin

At a hearing of the Wisconsin Legislature’s Joint Finance Committee on Tuesday, members voted 12-4 to eliminate numerous provisions of Gov. Tony Evers’s (D) budget request, including measures on legalizing, taxing, and regulating cannabis in the state. Read more here.

Green Thumb Industries

A blind trust overseeing Gov. Wes Moore’s investment holdings will have to divest a large portion of the Democrat’s holdings in the state’s growing cannabis industry. Topping the list of assets in Moore’s trust is nearly $1.2 million in stock in Green Thumb Industries (OTC: GTBIF) (CSE: GTII). Read more here.

GABY Inc.

GABY Inc. reported 2022 sales of $21.8 million, down 16% from sales in 2021. California-focused cannabis retailer recorded a net loss for the year of $29.3 million. The company also announced the departure of its CEO, Margot Micallef, who is temporarily resigning for personal reasons. Simon Lileikis, the company’s president, will fill the CEO role on an interim basis. Read more here.

StaffMay 1, 2023

The Daily Hit is a recap of the top financial news stories for May 1, 2023.

On the Site

Oregon Audit Forces State Official to Resign Cannabis Consultancy

Oregon’s secretary of state on Monday cut ties with a marijuana business she’d been consulting with after the business arrangement came to light following a state audit of Oregon’s cannabis industry. Read more here.

Cookies Partner Says 1 of 2 Lawsuits Dismissed, Blasts Press Coverage

A business partner of California-based global cannabis brand Cookies on Friday vigorously defended the company leadership following news last week of two pending lawsuits against the business and several of its executives. Read more here.

Akerna Sells Cannabis Assets to MJ Freeway Acquisition Corp. for $5M

Marijuana tech firm Akerna (Nasdaq: KERN) agreed to sell its cannabis-focused software assets to a special purpose acquisition company known as MJ Freeway Acquisition Co. for $5 million, a bid that a few weeks ago sidelined another potential buyer, POSaBIT. Read more here.

Cannabis Testing Lab Accuses Michigan of ‘Stonewalling’ Evidence Disclosure in Recall Fight

Bay City-based Viridis North LLC and the Michigan Cannabis Regulatory Agency have been wrapped up in litigation for two years over the recall of products tested by the lab. The state agency alleged Viridis’ testing results on 64,000 pounds of marijuana product contained “inaccurate and/or unreliable results.” The value of the recalled product at the time was roughly $229 million. Read more here.

Today’s Cannabis Earnings

• Acreage Holdings Posts Flat Q4 Sales in Solid 2022
• BZAM Reports Rising Revenue, But Also A Short Runway On Cash
• Cansortium Revenue Jumps In Fourth Quarter
• Curaleaf Posts $370 Million Loss for 2022
• PharmaCielo Sees Sales Jump In The Fourth Quarter

In Other News

Jones Soda

One of the nation’s most popular craft soda companies is ready to roll out a line of cannabis-infused drinks in Michigan. The Jones Soda Company’s “Mary Jones” will be made available soon in Michigan, Washington and Nevada. Read more here.

AVD (Advanced Vapor Devices)

The U.S. International Trade Commission ruled definitively in favor of U.S. cannabis vaporization company AVD (Advanced Vapor Devices) in a year-long patent infringement investigation initiated by Chinese e-cigarette maker Shenzhen Smoore Technology Limited, which owns CCELL. Read more here.

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Daily Hit: June 5, 2023

Monthly Illinois Cannabis Sales Inch Upward in May, State Reports

In other news

Atlas Global Shutters Alberta Site, Lays Off 50 Workers

Algernon NeuroScience Makes Progress With DMT Study

LeafLink Partners with Logistics Shop to Optimize California Cannabis Supply Chain

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Monthly Illinois Cannabis Sales Inch Upward in May, State Reports

Atlas Global Shutters Alberta Site, Lays Off 50 Workers

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