Its time for your Daily Hit of cannabis financial news for January 28th, 2020.
On the Site
Emerald Using Shares to Pay Bills
Canadian cannabis company Emerald Health Therapeutics (TSXV: EMH; OTCQX: EMHTF) had entered into a shares for debt transaction with Emerald Health Sciences, a control person for the former company. Presently, Emerald carries an aggregate debt of $2,816,963. The company will settle $794,182 owed to Sciences, as well as $2,022,781 owed pursuant to trades payable. Emerald Health Therapeutics will also issue 9,713,666 common shares of Emerald to Sciences at $0.29 per share.
TerrAscend Names Ackerman as Interim CEO, Ends Gravitas Deal
TerrAscend Corp. (CSE: TER)(OTCQX: TRSSF) has named the company’s Executive Chairman Jason Ackerman as the interim CEO, replacing the current CEO Michael Nashat.
Just yesterday, TerrAscend terminated its decision to acquire Gravitas Nevada Ltd. which operates a retail cannabis dispensary in Las Vegas, Nevada under the trade name “The Apothecarium.”
2020 Promises Greener Pastures for Cannabis Legislation
More than 75% of the United States of America have legalized (and decriminalized) Cannabis use. Whether that use is in the form of CBD, restricted to medicinal use, or completely without consequence, America’s legislation is changing rapidly.
The new decade started with Illinois celebrating its June 2019 legalization victory and now, New Mexico is following suit. New Mexico’s governor is currently pushing legalization. US News reported on the turn of the decade, there is strong legislative evidence five more states are rolling toward legalization before 2020 comes to a close.
In Other News
Vireo Health Expands Partnership With Leaf Trade
Physician-led, science focused cannabis company Vireo Health (CNSX: VREO, OTCQX: VREOF) announced the expansion of the company’s partnership with Leaf Trade. The partnership will provide a wholesale order and fulfillment management platform in four states where Vireo operates.