Daily Hit: January 24, 2023

The Daily Hit is a recap of the top financial news stories for January 24, 2023.

On the Site

FDA Releases Cannabis Industry Research Guidance

The guidance document from the U.S. Food and Drug Administration follows the 2018 federal legalization of hemp via that year’s federal farm bill, which removed cannabis with less than 0.3% THC by dry weight from the list of controlled substances. Read more here.

Mississippi Medical Marijuana Sales May Start Friday

But over the weekend, state regulators began activating patient cards and notifying cardholders, so they could visit dispensaries and get the rest of mandated info uploaded to the state in advance of the sales launch. Read more here.

SMACKED Social Equity Dispensary Opens in NYC

New York’s first social equity applicant dispensary opened its doors today. Roland Conner, the owner of SMACKED Village located in Greenwich Villag, had been incarcerated for cannabis but prefers to be called an entrepreneur, not an ex-con. Watch video from the opening event here.

Cannara Biotech Expands, But Makes Just $2,200 in Q1 2023

Montreal-based Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB) was slightly profitable for its first financial quarter of 2023, with $2,209 in net income against $7.7 million in revenue, the company reported. The vertically integrated Canadian marijuana company also spent $2.7 million to expand its footprint, increase headcount, and bring 14 new product lines to market during the quarter, which ended Nov. 30 last year. Read more here.

In Other News

22nd Century Group

22nd Century Group, Inc. (Nasdaq: XXII), a biotechnology company dedicated to improving health with reduced-nicotine tobacco, hemp/cannabis, and hops advanced plant technologies, acquired privately held RX Pharmatech Ltd (RXP), a United Kingdom distributor of cannabinoids with 1,276 novel food applications with the U.K. Food Standards Agency (FSA). Terms of the agreement include an up-front payment of $650,000 in cash and stock and a three-year equity earn-out based on revenue milestones. Read more here.

Curaleaf

Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) announced the expansion of its Grassroots brand in New Jersey with the launch of premium cannabis flower and pre-rolls. Available now at all Curaleaf locations across the state, New Jersey is the eighth market to offer Grassroots products. Read more here.

Leave a Reply

Your email address will not be published. Required fields are marked *

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 5 hours

Despite Early Access for Out-of-State Brands, In-State Hope Remains

@GreenMarketRpt – 6 hours

Out-of-State Brands Already Entering New York Cannabis Market

@GreenMarketRpt – 3 days

Georgia Medical Cannabis Program Rules Delayed over Technicality

Back to Top

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.