StaffMarch 15, 2023
The Daily Hit is a recap of the top financial news stories for March 15, 2023.
On the Site
TerrAscend Looks to Create New Holding Umbrella, List on TSX
TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) submitted an application to list its shares on the Toronto Stock Exchange, with the creation of a separate holding company likely serving as the vehicle for the major exchange upgrade. Read more here.
Chicago Cannabis Leader Verano’s Sammy Dorf
Sammy Dorf is co-founder of Chicago-based Verano Holdings (OTC: VRNOF), one of the largest cannabis companies in the nation, boasting more than 120 dispensaries in 13 states, 14 cultivation and production facilities, and nearly 4,000 employees. Crain’s Chicago Business sat down with Dorf to talk about the path he took to becoming a cannabis business leader. Read more here.
The Can’t Miss Cannabis Show in NYC? The GMR Women’s Summit
Cannabis stocks have joined tech and other industries with a huge dip and it is pulling down all the other companies – including startups, privately owned, and small service firms…but there is hope. To help women have a bigger impact, Green Market Report has chosen Women’s History Month as the perfect time to host its second annual Women’s Summit. Read more here.
The 2023 Green Market Report Women’s Summit takes place March 23 in New York City. Secure your seat today!
European Cannabis Company Avextra Raises 17 Million Euro
Privately-owned Avextra AG, a leader in the European medical cannabis market, is proud to announce the closing of an EU 17 million capital raise with support from existing investors, the full management team, and additional European investors. Read more here.
In Other News
Temescal Wellness
Temescal Wellness has designated April 20 (4/20) as a paid holiday for team members at its dispensary locations in Massachusetts, production facilities, and corporate office. Read more here.
Lowell Farms
Lowell Farms Inc. (CSE:LOWL) (OTCQX:LOWLF), a lvertically integrated, California-based cannabis company, entered into a binding letter of intent with the company’s existing noteholders. The company has agreed to sell its “Lowell Smokes” and “35s” brands and associated intellectual property to Lowell Brands LLC, a newly formed Delaware limited liability company and to assign the related license agreements and material contracts. Read more here.
GrowGeneration Corp.
GrowGeneration Corp. (Nasdaq: GRWG), a chain of specialty hydroponic and organic garden centers in the United States, reported net revenue for 2022 decreased 34.2% to $278.2 million. The decline was expected as the final result fell at the high end of the company’s previous guidance range. Read more here.
