It’s time for your Daily Hit of cannabis financial news for October 13, 2021.
On The Site
If you are a first-time attendee at the MJ Biz conference or even if you are a veteran, we are going to try to help streamline your time at the event. Green Market Report has pulled together the top ten things you must put in your calendar while at the convention center. You’re welcome.
Hall of Flowers, California’s highly-anticipated B2B trade show, returned to the Sonoma County fairgrounds in, September after a Covid-mandated hiatus. The show, beloved by the cannabis community, as well as the industry, is known for showcasing some of the state’s most popular cannabis brands. There were some noticeable absentees this year as people are still cautious about participating in events due to Covid-19 variants. Despite the caution, the turnout was impressive. Some brands are also being hit hard by the rock-bottom prices of cannabis flower. Sunrise Mountain Farms were noticeably absent, which they attributed to the significant drop in wholesale flower prices.
In Other News
Novamind Inc. (CSE: NM)(OTCQB: NVMDF) has been granted Schedule 1 licenses from the U.S. Drug Enforcement Agency (DEA) for Dr. Reid Robison, Chief Medical Officer, and Dr. Paul Thielking, Chief Scientific Officer. The DEA Licenses are required for research sites planning to host clinical trials for psilocybin, enabling principal investigators to store and administer this controlled substance.
“Obtaining the DEA Licenses is a critical step towards hosting clinical trials for psilocybin-assisted psychotherapy,” commented Dr. Robison. “We’re proud of our clinical research organization’s track record investigating innovative solutions for central nervous system conditions. This milestone reflects our expertise and enables us to continue on our mission to create breakthroughs in mental health treatment.”
iAnthus Capital Holdings, Inc. (CSE: IAN) (OTCPK: ITHUF)provided an update on its response to the Secured Noteholders’ application. On October 12, 2021, Justice Penny released his decision granting the Secured Noteholders’ relief sought in the Application. Specifically, Justice Penny granted the declaration sought by the Secured Noteholders and ordered that: “the Outside Date in the restructuring support agreement has been and is extended to the date on which any regulatory approval or consent condition to implementation of the Plan is satisfied or waived.”
Lantern, among the leading on-demand cannabis e-commerce marketplace and home delivery platforms in the U.S., announced three changes within its leadership team. Meredith Mahoney, who has served as Lantern’s President since the company launched in May 2020, was named Co-Founder and CEO. Katie Neer, who has served as Head of Industry Affairs, was named General Counsel, and Akele Parnell, the company’s Head of Equity Partnerships, was also appointed to lead Lantern’s social equity incubator program. Additionally, Lantern Co-Founder, Justin Robinson, has transitioned to a full-time role at the company following Uber’s acquisition of Lantern’s sister company, Drizly Group.