The Daily Hit is a recap of the top cannabis business stories for July 12, 2022.
ON THE SITE
MariMed Begins Trading On The CSE
MariMed, Inc. (CSE: MRMD), (OTCQX: MRMD) began trading its common shares on the Canadian Securities Exchange (CSE) today, July 12, under the ticker symbol MRMD. MariMed’s shares will continue to trade on the OTCQX under the ticker symbol MRMD. MariMed believes trading on the CSE will increase liquidity for shareholders and provide easier access to Canadian retail and institutional investors, in addition to U.S. investors on the OTCQX market. Read more here.
New York Has Potential To Be Number One, If It Can Beat Illicit Dealers
New York is often considered a likely major player in the US cannabis market. While reasonable, the state’s immense unlicensed consumption habits have some wondering if it will face problems as California has. If so, what might happen to New York’s licensed operators, including social equity license holders, a priority component of the state’s Marijuana Regulation and Taxation Act. Read more here.
Netflix Launches Psychedelic Pollan Series
Netflix (NASDAQ: NFLX) has launched four episodes of “How to Change Your Mind” based on the Michael Pollan book of the same name. The four-part docu-series was executive produced by Alex Gibney and directed by Alison Ellwood. The series is based on The New York Times best-selling book and it dives into the science of psychedelics while touching on consciousness, dying, addiction, depression, and transcendence. Each episode targets a different mind-altering substance: LSD, psilocybin, MDMA, and mescaline. Read more here.
The Dangers of Popularizing Psychedelics
So much good news from trusted sources about psychedelics today has really made the topic part of the zeitgeist of a world looking for help, as we all struggle to deal with many mental health and wellness issues within the context of a worldwide pandemic showing new signs of continuing. Read more here.
IN OTHER NEWS
Cryomass Technologies Inc.
OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Cryomass Technologies Inc. (OTCQX: CRYM), a company preparing to manufacture and operate field-mobile equipment for the handling of harvested cannabis, hemp and other high-value plant material, has qualified to trade on the OTCQX® Best Market. Cryomass Technologies Inc. upgraded to OTCQX from the OTCQB® Venture Market. Read more here.
Jushi Holdings Inc.
Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced that Ed Kremer has resigned from his position as Chief Financial Officer to accept a role at a competing large cannabis multi-state operator. Mr. Kremer’s resignation will take effect today, July 12, 2022. Mr. Kremer is party to an employment agreement with Jushi, which, among other things, prohibits him from working for a competitor for a 12-month period. While Jushi is appreciative of Mr. Kremer’s hard work to support the timely filing of audited financials, the Company takes such post-employment obligations seriously and will take steps to enforce its contractual rights. Read more here.
AmeriCann Inc. (OTCQB:ACAN), a cannabis company that develops cultivation, product manufacturing and distribution facilities, today provided financial and operational updates for its Massachusetts cannabis cultivation, product manufacturing and distribution campus. The company achieved a significant increase in year-over-year quarterly revenue, increasing over 36% for the quarter ended June 2022 relative to the quarter ended June 2021, an increase of $213,902. Read more here.
Medical Marijuana, Inc., Kannaway® Japan
Medical Marijuana, Inc. (OTC: MJNA), a publicly traded cannabis company in the United States that has launched cannabis-derived nutraceutical products, brands, and supply chain, announced today that in June, its subsidiary Kannaway® has achieved its largest revenue month in the company’s history for its Japan division. Read more here.
Akanda Corp., Tetra Bio-Pharma
Akanda Corp. (NASDAQ: AKAN) and Tetra Bio-Pharma (TSX: TBP) (OTCQB: TBPMF) (FRA: JAM1), today jointly announced that Akanda will supply Tetra with pharmaceutical grade cannabis flower in a microdose cap form, for use in a Storz & Bickel Mighty Medic Vaporizer for global commercialization of Tetra’s QIXLEEFTM and related products. In addition, Akanda will act as a contract development and manufacturing organization (CDMO) for Tetra’s clinical drug and commercial supply programs. With this project, Akanda becomes a CDMO in addition to being an EU GMP cannabis manufacturer, marking Akanda’s first entry into cannabinoid drug development. Read more here.
China Infrastructure Construction Corp., Cannabis Bioscience International Holdings, Inc.
China Infrastructure Construction Corp., a company traded on the OTC Markets Pink tier under the symbol CHNC, announces that, in addition to completing its public audit on March 21, 2022, its independent registered public accounting firm, PWR CPA LLP, has completed its review of the company’s financial statements for the first three quarters of the fiscal year that ended May 31, 2022. This review is a significant step in the prompt completion of audited financial statements for the fiscal year then ended, as well as in preparing for the change of the company’s corporate name to Cannabis Bioscience International Holdings, Inc., which it plans to accomplish as soon as it is able to comply with regulatory requirements. Read more here.
Rodedawg International Industries, Inc.
Rodedawg International Industries, Inc. (OTC Pink: RWGI) announced the acquisition of Tree Moguls™, a premium cannabis lifestyle brand based in Southern California. Christopher Swartz, CEO, states, “This acquisition is an immediate revenue producing opportunity and allows Rodedawg to enter into the $6 billion dollar California cannabis market through licensing and distribution opportunities. As part of the acquisition, Rodedawg also acquires a deep technology stack which includes Augmented Reality (AR) and Virtual Reality (VR) embedded branding for the Tree Moguls™ brand.” Read more here.
Zoned Properties®, Inc.
Zoned Properties®, Inc. (OTCQB: ZDPY), a real estate development firm for emerging and highly regulated industries including legalized cannabis, today announced the company has secured an initial debt facility of up to $4.5 million. Read more here.
Pacific Stone, a seed-to-sale company producing 6.5 percent of the licensed California market’s cannabis flower, announces its ongoing partnership with RIP Medical Debt and participating California retailers with the goal of alleviating $3 million in medical debt for families across the state of California. Read more here.