Hightimes Holding Corp. Archives - Green Market Report

StaffSeptember 28, 2023


The Daily Hit is a recap of the top financial news stories for Sept. 28, 2023.

On the Site

Hightimes Agrees to $558,000 Settlement With SEC Over Stock Promotion Scheme

Hightimes Holding Corp. has settled allegations of an illegal stock promotion “scheme” with the U.S. Securities and Exchange Commission for a fine of $558,071, and the company has a month to pay up, according to SEC records. Read more here.

• Related: SEC Accuses High Times CEO Adam Levin of Securities Fraud

Suspended Marijuana Regulator in Massachusetts Sues State

Former Massachusetts cannabis czar Shannon O’Brien filed a lawsuit Thursday against State Treasurer Deborah Goldberg, alleging that her recent suspension from her job as head of the state Cannabis Control Commission was illegal. According to the suit, Goldberg “willfully side-stepped both Massachusetts law and any process at all” when she suspended O’Brien earlier this month. Read more here.

Related: States Reel Amid Cannabis Regulatory Turbulence

Your Take: Medical Cannabis Remains Out of Reach for Many Communities

A study across New York state shows areas with larger black populations have a lower likelihood of containing a medical dispensary than other areas. Many predominantly Black/Latinx communities not only lack a medical dispensary but are not even remotely close to one. Read more here.

Unions Make Cannabis Industry Gains in Illinois, Utah

The International Brotherhood of Teamsters Local 777 secured tentative employee contracts at five Chicago-area Sunnyside-branded dispensaries run by multistate operator Cresco Labs (CSE: CL) (OTC: CRLBF), and the United Food and Commercial Workers Union Local 99 won an employee election at Dragonfly Wellness Cannabis in Salt Lake City. Read more here.

Aurora Cannabis Inks C$33.8M Stock Deal

Alberta-based Aurora Cannabis Inc. (Nasdaq: ACB) (TSX: ACB) has reached an agreement with investment bank Canaccord Genuity to sell 46,250,000 of its shares at C$0.73 each, totaling approximately C$33.8 million, the company announced Thursday. Read more here.

In Other News


The federal District Court of the Northern District of Illinois denied Republic Tobacco’s motion for a new trial in its seven-year court battle against HBI International, the company that owns the RAW brand. In his ruling on Sept 22, the judge ruled that there was no good basis for re-visiting Republic’s claims, finding that “Republic did not provide evidence at trial outside of the opinions of its own founder and corporate officer that a single consumer (whether end user or distributor) was misled.” Read more here.


More Canadian cannabis companies are tapping government funding sources to finance research and other projects as private-sector capital has become harder to come by. Read more here.

Craft 1861 Global Holdings

Craft 1861 Global Holdings Inc. and Nano Cures International Inc. entered into a definitive arrangement agreement that sets out the definitive terms for the businesses to combine via a reverse take-over transaction under the policies of the Neo Exchange Inc., operating as Cboe Canada. Read more here.

StaffNovember 7, 2022


The Daily Hit is a recap of cannabis business news for Nov. 7, 2022.


Agrify Faces Hostile Takeover

Last week, Agrify Corp. (Nasdaq: AGFY) shareholder Marc Beginin stated he wants to reorganize the company in a hostile takeover. Beginin is the chief executive officer of Prodigy LLC, which operates as Prodigy Processing Solutions. He was formerly the CEO and founder of Precision Extraction Solutions before it was acquired by Agrify in October 2021. Read more here.

Unrivaled Sued for Breach of Contract, Responds with Fraud Allegations

An acquisition deal that only a year ago was celebrated by the buyer, Unrivaled Brands (OTCQX: UNRV), as key to making the business a “preeminent West Coast multistate operator” has now apparently fallen apart, with both companies suing each other over various alleged misdeeds. Read more here.

Tilray Snaps Up Another Alcohol Company, Expands Into Northeast

Tilray Brands Inc. (Nasdaq: TLRY) said Monday that it bought Montauk Brewing Company and tapped veteran beverage executive Ty H. Gilmore to lead Tilray’s U.S. beer business in a bid to secure more alcohol profits. Read more here.

High Times Buys Moxie in All-Stock Deal

Hightimes Holding Corp. and HT Red LLC, a wholly owned subsidiary of Hightimes, bought MXY Holdings Inc., also known as Moxie Holdings, in an all-stock deal. Moxie is known for cultivating, producing, manufacturing, distributing, and selling cannabis products in the state of California. Read more here.

Michigan-based JARS Buys Colorado’s Euflora

Michigan-based private company JARS Cannabis is buying Colorado-based Euflora LLC for an undisclosed amount. The acquisition and rebranding of Euflora retail stores are expected to be completed by the end of the fourth quarter. Read more here. 

Earnings Round-Up:


IM Cannabis

IM Cannabis Corp. (Nasdaq: IMCC) (CSE: IMCC), an international medical and adult-use recreational cannabis company, announced that it is commencing exit of the Canadian cannabis market to focus its resources on pursuing growth opportunities in Israel, Germany, and Europe. With this move, the Company aims for a leaner organization with a primary focus on achieving profitability in 2023. Read more here.

Vext Science

Vext Science Inc. (CSE: VEXT) (OTCQX: VEXTF), a multistate cannabis company with expertise in extraction, manufacturing, cultivation, and marketing, announced the refinancing of the company’s existing $4.4 million principal amount of 10% secured nonconvertible debentures issued by the company on Dec. 31, 2019, and maturing Dec. 31, 2022. Read more here.

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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


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