The Daily Hit is a recap of the top financial news stories for February 22, 2023.
On the Site
TPCO Merges with Gold Flora in All-Stock Deal
TPCO Holding Corp. (OTCQX: GRAMF), also known as The Parent Company, is merging with California-based cannabis company Gold Flora Corp. Gold Flora will be the majority holder of the company with 51% of the shares, while The Parent Company shareholders will own approximately 49%. The combined company will be called the New Parent, but it will operate as Gold Flora Corp. Read more here.
Two Weeks Until Oklahoma Recreational Cannabis Vote
In just under two weeks, Oklahoma voters will get to decide if they want an even more accessible, consumer-friendly cannabis industry when they weigh in on State Question 820, which would legalize recreational marijuana, in addition to the state’s immense medical marijuana trade. Read more here.
Delivra Health Turns a Profit in Latest Quarter
Canada-based Delivra Health Brands (TSXV: DHB) (OTCQB: DHBUF) managed to turn a small profit in the first two fiscal quarters of 2023, including making C$890,000 in the second quarter, which ended on Dec. 31. Read more here.
New Hampshire House Approves Recreational Cannabis Legalization
The lower chamber of the New Hampshire Legislature moved to join the rest of New England by passing a bill to legalize adult-use cannabis, but the state Senate still looms as an obstacle. The measure, House Bill 639, was given the thumbs-up by the full House on a 234-127 vote. Read more here.
Cannabis Attorney Says New York’s Legal Market Isn’t Actually Off to a Slow Start
From her first cases as a cannabis attorney, Scheril Murray Powell knew she wanted to focus on equity and representation in the budding legal marijuana industry. As one of the attorneys helping Black farmers enter the medical marijuana sector, she sought to raise their standing in cultivating the plant. Since then, she’s helped seven states legalize cannabis. Read more here.
In Other News
BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF) announced a private placement of up to C$8 million of two-year convertible notes. The funds raised will predominantly support the company’s growth in its polyphenols/antioxidants vertical. The funds will also support the R&D program for potentially providing API’s to the pharmaceutical industry on the basis of its botanical compositions. Read more here.
Tilray Brands Inc. (Nasdaq: TLRY) (TSX: TLRY) entered into an agreement for the issuance of 120,000 shares of Series A Preferred Stock. The goal of the issuance, according to CEO Irwin Simon, is to facilitate “accretive acquisitions” going forward. Read more here.