Lifeist Wellness Archives - Green Market Report

StaffOctober 30, 2023


The Daily Hit is a recap of the top financial news stories for Oct. 30, 2023.

On the Site

Oklahoma Marijuana Market Contraction Underway

The Oklahoma medical marijuana market – one of the most free-wheeling in the nation – has been shedding businesses left and right for months. Insiders expect even further consolidation in the coming months. though the state has already fallen from about 14,000 cannabis companies to just over 10,000. Read more here.

Arkansas Cannabis Sales Keep Trending Up

If medical marijuana sales continue at the current pace, the Arkansas cannabis market will set a new annual record, having passed the $211 million mark in September. In both August and September, sales averaged about $23 million. Read more here.

Israeli StickIt Technologies Begins Trading on CSE

Israeli-based cannabis company StickIt Technologies Inc. (CSE: STKT) began trading on the Canadian Securities Exchange under the ticker symbol STKT on Friday. It is the parent company of the Israeli technology and cannabinoid company StickIt Ltd. Read more here.

Lifeist Q3 Profit Margin Rises, Revenue Dips

Lifeist Wellness Inc. (TSXV: LFST) (OTC: NXTTF), which owns cannabis brand Roilty, reported a dip in net revenue for the third quarter ended Aug. 31, yet saw improvement in its profit margin compared to the same period last year. Read more here.

Federal Appeals Court Pressures DEA to Justify Psilocybin’s Schedule I Status

A federal appeals court directed the U.S. Drug Enforcement Administration to give a detailed explanation for keeping psilocybin, the hallucinogenic compound in psychedelic mushrooms, on the list of the most restricted substances. Read more here.

In Other News

Rafael Holdings

Rafael Holdings Inc. (NYSE: RFL) incurred a net loss from continuing operations of $8.7 million during its fiscal 2023 , which ended July 31. Research and development expenses were $6.3 million. Read more here.


All 90 applicants for commercial medical cannabis licenses are back in the running after the Alabama Medical Cannabis Commission Thursday reset the license process. The AMCC rescinded all awarded licenses and denials from an Aug. 10 meeting, setting the stage for a third round of license grants under rules adopted at a commission meeting on Oct. 12. Read more here.

Homestate Dispensary

Workers at Homestate Dispensary in Kansas City voted 6-1 Monday to unionize with Teamsters Local 955. This is only the second unionized dispensary in Missouri and the first in the Kansas City metro area. Read more here.

StaffApril 6, 2023


The Daily Hit is a recap of the top financial news stories for April 6, 2023.

On the Site

Feds Charge Former Michigan House Speaker in Marijuana Investigation

Federal prosecutors announced corruption charges Thursday against former Michigan House Speaker Rick Johnson and three others in connection to bribes paid for marijuana licenses. The announcement, made by the U.S. Attorney’s Office in Grand Rapids, comes on the heels of a multiyear investigation into Johnson’s time chairing the former Michigan Medical Marihuana Licensing Board. Read more here.

Tobacco Titan Teams Up with Charlotte’s Web on New Drug Venture

Hemp extract wellness giant Charlotte’s Web Holdings Inc. (TSX: CWEB) (OTCQX: CWBHF) entered into a joint venture with botanical drug developer AJNA BioSciences and London-based British American Tobacco (NYSE: BTI) to develop a new drug for an an undisclosed neurological condition. Read more here.

Ohio’s Second Round of Dispensaries Slow to Open

Ohio’s expansion of its medical marijuana industry last year was supposed to bring another 73 dispensaries to the state, but so far, only 14 of those have opened for business – despite rules that required them to be ready for customers within 270 days. Read more here.

Missouri Continues to Siphon Customers from Illinois

The number of out-of-state buyers coming to Illinois for cannabis dropped in March, a signal that neighboring Missouri’s booming recreational market continues to lure customers away. But the state’s retailers still raked in $134.8 million in sales for the month. Read more here.

Lifeist Grows Roilty Brand as Revenues Rise in 2022

Product expansion has proven to be a winning strategy for Canadian health-tech company Lifeist Wellness Inc. (TSXV: LFST) (OTCMKTS: NXTTF), which owns cannabis brand Roilty. Roilty’s unit sales rose by more than 30% since the fourth quarter of 2022, with the expansion of its product line being a main contributing factor. Read more here.

In Other News

Tilray Brands

Tilray Medical, the medical cannabis division of Tilray Brands Inc. (Nasdaq: TLRY; TSX: TLRY), expanded in the Czech Republic through a new export and distribution partnership with Cansativa Group. The new strategic partnership broadens Tilray Medical’s distribution of EU-GMP certified medical cannabis products across pharmacies and hospitals to support medical cannabis patient care. Read more here.

Jushi Holdings

Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multistate cannabis operator, closed on a secured commercial loan with FVCbank for gross proceeds of $20 million. The proceeds of the loan will be used for working capital and other corporate purposes. Read more here.

Amesbury, Massachusetts

A Massachusetts appeals panel cleared the former mayor of Amesbury against allegations that he interfered with a cannabis company’s application for a license, saying the company failed to show that the former mayor acted in bad faith. In an order filed Wednesday, the three-judge panel of the Massachusetts Appeals Court affirmed the dismissal of two counts against C. Kenneth Gray and one against the city in a suit brought by Kirby Mastrangelo and Candace Kattar, who run CKR Natural Solutions LLC. 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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