The Daily Hit April 13, 2022

The Daily Hit is a recap of the top cannabis business stories for April 13, 2022.

ON THE SITE

New Jersey

With the news that New Jersey was finally approving some cannabis companies to begin selling adult-use cannabis, investors began salivating over who would triumph. Cannabis stocks have been in a decidedly long bear market causing investors to lose great sums of money (on paper at least). As the process to begin these sales went through a series of starts and stops, the companies along with the investors were getting frustrated. Read more here.

Akerna

Cannabis tech company Akerna (Nasdaq: KERN) is predicting that U.S. cannabis shoppers will spend nearly $130 million on legal cannabis on April 20th, known as “420”, an unofficial but widely celebrated cannabis consumption holiday, which would become the largest sales day in legal cannabis history. Read more here.

Maturing Markets

As more states begin selling adult-use cannabis, some states are seeing sales decline or at least plateau. In the case of a mature market like Colorado, sales have actually dropped. Colorado was the OG of adult-use sales, creating an onslaught of canna-tourism. Now, many people can go to states closer to where they live. Read more here.

IN OTHER NEWS

Avicanna

Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development and commercialization of plant-derived medical and pharmaceutical cannabinoid-based products, announced today that it has entered into an exclusive license and supply agreement with a South American pharmaceutical company to commercialize up to four of Avicanna’s proprietary cannabinoid-based pharmaceutical preparations. Read more here.

ACS Labratory

ACS Laboratory, a hemp and cannabis testing facility in the eastern U.S., has created a certificate of authenticity (COA) verification process in partnership with Blockticity (https://blockticity.io/), a provider of guaranteed certificates of authenticity. The platform allows any cannabis or hemp COA authenticated by Blockticity to be available for anyone to review for themselves in the blockchain. Read more here

Geocann, Averix Bio

Global cannabis organization Geocann today announced a strategic partnership with Averix Bio that will bring U.S.-produced API phytocannabinoid ingredients and clinically proven bioavailable formulations to the global marketplace. The alliance is focused on South America, as Geocann has established a sales, distribution, and marketing infrastructure to support leading human and animal nutrition brands. Read more here.

Cantourage

European medical cannabis company Cantourage has received two British government licences that authorise the company to import medical cannabis into the UK. The company has also received the required regulatory registration to prescribe medical cannabis products to clients via a new facility, Cantourage Clinic. 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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