The Daily Hit is a recap of the top cannabis business stories for June 2, 2022.
ON THE SITE
Bright Green Former CEO Claims Valuation Fraud
The back story of the cannabis concept stock Bright Green (NASDAQ: BGXX) involves a burned-down building, a years-long battle with the state of New Mexico, a bankruptcy case, and an angry former CEO who is accusing the company of fraud. Bright Green recently began trading on the NASDAQ (NDAQ) as a direct listing, not as an Initial Public Offering (IPO). The stock shot up almost immediately to $58 and has since sold off and was lately selling at $3.54. Read more here.
TILT Holdings Inc., Ricky Williams’ Highsmanis
Ricky William’s cannabis brand Highsmanis coming to the Northeast in a new deal with TILT Holdings Inc. (NEO:TILT) (OTCQX: TLLTF). Highsman is a purpose-driven cannabis lifestyle brand founded by former NFL running back, Ricky Williams. TILT is leaning into sports enthusiasts and everyday athletes as it chooses its portfolio of brands. TILT will launch Highsman in both Massachusetts and Pennsylvania in early September to kick off the 2022 football season. Read more here.
Next Gen Psychedelics
The psychedelic experience is intense. As much as it can help someone understand and work through their mental health issues, the hallucinations that come with them are a significant part of the psychedelics experience that is what makes psychedelics the powerful and effective therapy that it is. Read more here.
IN OTHER NEWS
Intercure Ltd., Cookies
InterCure Ltd. (NASDAQ: INCR) (TSX: INCR.U) (TASE: INCR) announced today the grand opening of its flagship Cookies pharmacy in Be’er Sheva, the largest city in Israel’s southern region, known as the capital of the Negev. The pharmacy is located in the center of Be’er Sheva in front of City Hall, in a unique building that covers an area of over 1,000 square meters and is painted entirely in the globally recognized Cookies baby blue. To the company’s knowledge, this is the largest medical cannabis dedicated pharmacy in the world. Read more here.
Clear Cannabis Inc., Bloom Montana
Clear Cannabis Inc. (CCI), national licensor of cannabis brand The Clear™ announces an exclusive partnership with licensed cannabis provider Bloom Montana. “We are ecstatic to establish this partnership and be one of the first nationwide cannabis brands in the great state of Montana,” said Seth Wiggins, President of CCI. “With a newly legalized adult-use market, we know there’s a growing demand for high quality, consistent cannabis products from a reputable brand. As pillars of brand value, The Clear will certainly deliver for the cannabis consumer in Montana.” Read more here.
Heritage Cannabis Holdings
Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) today announces that the cease trade order issued on March 2, 2022, by the Ontario Securities Commission has been revoked. As a result, the Company’s common shares have resumed trading on the Canadian Securities Exchange effective immediately. Read more here.
Florida has fully adopted CanPay, the largest legitimate payment network for cannabis merchants and consumers. The platform is now accepted at 95% of the state’s medical marijuana treatment centers (MMTCs). Nearly 100% of Florida’s medical cannabis patients can use CanPay to pay for their cannabis purchases. Read more here.