The Daily Hit is a recap of the top financial news stories for April 26, 2023.
On the Site
Georgia Nears Medical Marijuana Milestone as Producers Prepare for Summer Launch
After eight years, Georgia’s journey toward legalizing access to medical cannabis may soon come to fruition. Two in-state producers, Botanical Sciences and Trulieve Georgia, are expected to have low-THC oil available for patients this summer, after the Georgia Access to Medical Cannabis Commission approved dispensing licenses Wednesday. Read more here.
BDSA Market Forecast: ‘Plenty of Bright Spots’
There’s a “lot to be excited about” in the U.S. marijuana industry, said BDSA co-founder and COO Liz Stahura at cannabis business conference MJ Unpacked in New York City this week. This year, BDSA projects a 14% total sales increase nationally. Read more here.
Cannabis Reform Leaders Predict Major Changes on Horizon
A trio of cannabis advocates who have been lobbying Congress for federal reform expressed optimism that the SAFE Banking Act – which could open the broader banking system to cannabis companies – will be passed by federal lawmakers this year or next. Read more here.
Silo Wellness Looks to Crypto for Psilocybin Payment Processing in Oregon
Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) plans to acquire BitGift, a platform specializing in “secure and anonymous” cryptocurrency transactions. Silo aims to establish BitGift as a payment processor for psilocybin-based services in Oregon, where the substance has been legalized for therapeutic use, the company said in a statement. Read more here.
In Other News
Allied Corp./Blueberries Medical Corp.
Colombia-based cannabis cultivator Allied Corp. (OTCQB: ALID) signed a joint venture agreement with Blueberries Medical Corp. (OTC: BBRRF), one of the largest extraction companies in Colombia, to produce psychoactive and non-psychoactive derivatives. Read more here.
Minority shareholder of Cannolam, a subsidiary of Israeli cannabis company InterCure Ltd. (Nasdaq: INCR) (TSX: INCR.U) (TASE: INCR), which does business as Canndoc, files a lawsuit against the company related to disagreements concerning the ongoing management of Cannolam. Read more here.