The Daily Hit is a recap of the top financial news stories for January 26, 2023.
On the Site
Curaleaf Closes Book on Legacy West
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) is exiting a trio of legacy western states in search for better profits. The exodus will begin this month with the “proactive closure of the majority of its operations” including its production and cultivation facilities in California, Colorado, and Oregon, the company said on Thursday. Read more here.
FDA Says CBD Still Can’t Be Dietary Supplement
The U.S. Food and Drug Administration this week announced that it would deny a trio of petitions that requested authorization for cannabidiol (CBD) to be used as a dietary supplement. The agency also advised that Congress needs to establish a better regulatory framework before such a classification is allowed. Read more here.
Mississippi Kicks Off Medical Cannabis Sales
Mississippi launched its medical cannabis program one year after the Mississippi Medical Cannabis Act was signed into law. Southern-based medical operator Good Day Farm sold flower to an Oxford, Mississippi medical patient. The company said that the flower was cultivated at Good Day Farm’s 130,000-square-foot facility, and became the first legal medical cannabis purchase in the state. Read more here.
TGOD is Now BZAM
The Green Organic Dutchman Holdings Ltd. (CSE: TGOD) (US-OTC: TGODF) is changing its name from “The Green Organic Dutchman Holdings Ltd.” to “BZAM Ltd.” In addition to changing the company name, the ticker symbol will also switch from TGOD and TGODF to “BZAM” on the CSE and “BZAMF” on the OTCQX. TGOD acquired the shares of BZAM in November 2022 resulting in one large shareholder owning 49.5% of the company. Read more here.
In Other News
Village Farms International
Village Farms International Inc. (Nasdaq: VFF) entered into definitive agreements with certain institutional investors for the purchase and sale of 18,350,000 of its common shares together with warrants to purchase up to 18,350,000 common shares, pursuant to a registered direct offering. Read more here.
St. Andrews Pharmacy LLC
A California state judge has ordered an early cannabis entrepreneur to pay $3.8 million after she was found to have cheated the successor of her dispensary by falsely claiming ownership of a legacy license, blocking him from securing a recreational marijuana business. Kathy Smith was ordered to pay the multimillion-dollar judgment to Cobby Pourtavosi, the operator of cannabis dispensary St. Andrews Pharmacy LLC. Read more here.