Vext Science Archives - Green Market Report

StaffMay 30, 2023
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4min1560

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

On The Site

Two Dozen Publicly Traded U.S. Cannabis Companies Lost $4 Billion Last Year

Two dozen of the top plant-touching publicly traded marijuana companies in the United States posted a cumulative financial loss of more than $4 billion in 2022 against nearly $9 billion in revenue, according to analysis of filings by Green Market Report. Read more here.

New York Cannabis Regulators Propose Settlement for Lawsuit Hindering Retail Licensing

New York marijuana industry regulators on Tuesday gave initial approval to a settlement deal that is intended to end a legal fight that has stalled retail cannabis permits in the Finger Lakes Region. Read more here.

Numinus Wellness Shares Soar as Landmark Clinical Study of Psilocybin Therapy Begins

Numinus Wellness Inc. (TSX: NUMI) announced on Tuesday that its subsidiary, Cedar Clinical Research, has begun studying a potential new therapy for treatment-resistant depression (TRD) using COMP360 psilocybin. As a result, shares of NUMI jumped more than 30% to lately sell at 19 cents on the news as of the Phase 3 trial was released on Tuesday morning. Read more here.

Entourage Health Revenue Rises on Pre-Rolls, Medical Marijuana

Entourage Health Corp. (TSX-V: ENTG) (OTCQX: ETRGF) announced Tuesday a 24% sequential increase in revenue for the first quarter of 2023 ending March 31, with a significant contribution from its medical cannabis stream and adult-use pre-roll sales. Read more here.

YourWay Cannabis Can’t Find An Auditor For Filings

YourWay Cannabis Brands Inc. (CSE: YOUR)(OTC: YOURF) has been delayed in issuing its financial reports because it can’t find an auditor. The company said that since the resignation of its previous auditor Macias Gini & O’Connell LLP in December 2022, it hasn’t been able to find a replacement. Read more here.

In Other News

Minnesota

Surrounded by dozens of cheering people in green clothes, Minnesota Democratic Gov. Tim Walz signed a bill Tuesday to legalize recreational marijuana for people over the age of 21, making Minnesota the 23rd state to legalize the substance for adults. Read more here.

Ohio

Ohioans 21 and older would be able to cultivate, purchase and possess marijuana if a bipartisan bill passes in the Ohio Statehouse, possibly circumventing a ballot measure campaign to force legalization through. Read more here.

North Carolina

A North Carolina state House of Representatives committee has taken up a medical marijuana legalization bill already approved by the state Senate, and activists are hopeful this year the state may embrace MMJ. Read more here.


StaffMarch 22, 2023
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4min6330

The Daily Hit is a recap of the top financial news stories for March 22, 2023.

On the Site

Exclusive Interview: New York’s Cannabis Czar on the Legal Market’s Long Play

Axel Bernabe, the chief of staff and senior policy director for New York’s Office of Cannabis management, connected with Green Market Report for an hour-long discussion on the Empire State’s recreational market rollout, and made several revelations, including that the state may award up to 100 more retail permits in the near future. Read more here.

Michigan Cannabis Prices Spiked in February, First Time Since Legalization

Michigan recreational marijuana prices rose in February – reversing a price free fall since Michigan dispensaries began selling in December 2019 – as growers appear to be growing fewer plants to prevent losses and state regulators up enforcement efforts. Read more here.

Oklahoma Launches Cannabis Crackdown, Revokes Farm License

The Oklahoma Medical Marijuana Authority has begun what could be a lengthy crusade to rid its state cannabis industry of bad actors, and the crackdown began with the revocation of a cultivation permit the state said was in violation of the Oklahoma residency requirement. Read more here.

Irwin Naturals Buys Keta Media

Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF)  has acquired Keta Media, LLC, dba Ketamine Media as of March 17, 2023 in a deal initially announced in September 2022. While the amount paid for the company wasn’t disclosed, it was said to be all cash and that Irwin would assume certain debts of Keta Media. Ketamine Media is the nation’s foremost advertising company dedicated to raising awareness about the clinical use of ketamine. Read more here.

Vext Science Revenue Ticked Down in 2022 as Arizona Sales Flat

Vext Science, Inc. (CSE: VEXT) (OTCQX: VEXTF) had a decent 2022 in Arizona despite challenging economic conditions caused by high inflation rates. The MSO reported its financial results for the period ending December 31, 2022. Read more here.

In Other News

New York

New York. Gov. Kathy Hochul has thrown her support behind civil fines of up to $10,000 a day for unlicensed commercial cannabis activity, in an attempt to crack down on the state’s thriving illicit market. Read more here.

SAFE Banking

The chairman of a key Senate committee says lawmakers need to act on marijuana banking legislation “this year,” and his Republican counterpart on the panel agrees that the issue will “come to a conclusion likely in this Congress.” 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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