The Daily Hit is a recap of the top financial news stories for Sept. 26, 2023.
On the Site
Lucy Scientific Mum on High Times Deal
The recent acquisition of High Times Holding Corp. by Lucy Scientific Discovery Inc. (NASDAQ: LSDI) raised many questions – but the company doesn’t appear to want to answer them. The deal was expected to be finalized in two weeks, but that deadline is now in the rearview mirror, and there has been no update. Read more here.
New York Regulators to Issue 1,500 Cannabis Licenses in Upcoming Round
New York regulators are planning to issue roughly 1,500 marijuana business licenses when the upcoming permit application window opens next Wednesday, one of the state’s top cannabis overseers disclosed. That would vastly expand the current licensed New York market. Read more here.
Alaska Eases Rules on Cannabis Ads, Free Samples
Alaska regulators significantly loosened key restrictions that could lead many cannabis businesses to greater profitability simply by letting them advertise in many common venues and offer free samples to customers through legal dispensaries. Read more here.
Dunkin’ Takes E-Cigarette Maker to Court Over Branding
The lawsuit contends that Singh Handicraft Corp.’s branding for its e-cigarettes is strikingly similar to Dunkin’s distinctive design. Specifically, the disposable vaporizers, shaped like an iced coffee cup and a glazed doughnut, display a logo that mirrors Dunkin’s signature orange and pink color palette and rounded font. Read more here.
Organigram Holdings Seeks C$500 Million Financing Approval
Organigram Holdings Inc. (Nasdaq: OGI) (TSX: OGI) is paving the way to distribute up to C$500 million in securities. The company announced on Monday it had filed a preliminary short form base shelf prospectus with Canadian securities commissions. Read more here.
In Other News
Better Health Sciences
Better Health Sciences, a wholly owned subsidiary of TransGlobal Assets Inc. (OTC PINK: TMSH), has acquired 100% of the assets of Synergy Health Services. This strategic alignment augments BHS’ trajectory in the dynamic health and wellness sector, particularly through alignment with BHS’s recent acquisition of Cannascribe. Read more here.
The Syracuse New York mayor Walsh said that the City’s Division of Code Enforcement, with New York State investigators from the State Department of Taxation and Finance and the Office of Cannabis Management, seized illegal products at five stores in the city and closed the shops. Read more here.
Proprietors of San Francisco cannabis dispensaries say allowing Amsterdam-style consumption lounges would be a positive move, but it would do little to address their biggest problem: There are simply too many shops chasing too few customers, particularly as the city’s tourism industry has taken a hit. Read more here.