The Daily Hit: December 11, 2023

The Daily Hit is a recap of the top financial news stories for Dec. 11, 2023.

On the Site

Curaleaf Reorganizes Ahead of TSX Listing

New York-based Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) will reorganize its U.S. subsidiary, Curaleaf USA, as part of its plans to list on the Toronto Stock Exchange. The reorganization involves a new investment in Curaleaf USA, where an independent investor acquired one share of Class A voting stock for $1 million. Read more here.

Skymint to Shut Down Michigan Marijuana Growing Operation, Lay Off 180

Skymint, the embattled marijuana operator being acquired out of receivership, is shuttering its growing and processing plant near Lansing, Michigan, and will lay off roughly 180 employees by March 1, the company said last week in an internal memo to employees that was obtained by Crain’s. Read more here.

Illinois Governor Signs Cannabis Transport Bill, Halts New Licenses

Illinois Governor JB Pritzker signed a bill into law Friday that waives annual licensing fees for existing cannabis transporters for three years and puts a hold on issuing new transporter licenses until 2027. Read more here.

Arizona Cannabis Sales Pass $1B for 2023

Arizona marijuana sales remained down for the year in September and August, after first entering a slump over the summer, but appeared to be stabilizing. Overall cannabis sales for the state surpassed the $1 billion sales mark for the year two months ago. Read more here.

New Jersey Medical Marijuana Sales Decline as Recreational Gains

New Jersey’s marijuana market is following a common trend among U.S. states that have embraced adult use: the slow but steady decline of medical marijuana sales, as patients opt for the ease of recreational purchasing. Read more here.

In Other News

CALIFORNIA PRODUCT RECALL: Grizzly Peak Farms

Grizzly Peak Farms has issued a voluntary recall of its Zoap flower strain after the product failed testing for the Category I pesticide chlorfenapyr. Learn more here.

The Grass Is Always Greener LLC

A lawsuit in a Washington state court says The Grass Is Always Greener LLC broke a $480,000 settlement by not maintaining a business license associated with a dispensary or keeping up with payments owed to the plaintiff. Bernard Finney said payments stopped at the end of 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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