The Daily Hit: June 9, 2022

The Daily Hit is a recap of the top cannabis business stories for June 9, 2022.

ON THE SITE

Cannabis Tech Company Canix Raises $10M

Cannabis seed-to-sale platform company Canix raised $10 million in funding from venture capitalists.  Canix launched in 2019 from Y Combinator and, in 2020, won TechCruch Disrupt Startup Battlefield. Both founders were also featured in Forbes 30 Under 30. Since then, Canix has expanded to serve 2,300 licenses across 15+ states and 6 countries. “This is a huge milestone for us. Our goal has always been to help businesses in the cannabis industry thrive,” said Stacey Hronowski, Co-Founder and CEO of Canix. Read more here.

Neptune Wellness is Selling its Canadian Cannabis Business

Neptune Wellness Solutions Inc.  (NASDAQ: NEPT) (TSX: NEPT) announced the launch of a new Consumer Packaged Goods (CPG) focused strategic plan to reduce costs, improve the company’s path to profitability and enhance current shareholder value. Neptune is also selling its Canadian cannabis businesses. Read more here.

4Front Names Keith Adams as New CFO

4Front Ventures Corp.(CSE: FFNT) (OTCQX: FFNTF) has made several C-suite changes including a new Chief Financial Officer, Executive Vice President, General Counsel, President of California Operations, and two additional Board members. Andrew Thut, who served as an interim chief financial officer, will remain in his original capacity as a chief investment officer for the 4Front. Read more here.

IN OTHER NEWS

TILT Holdings Inc.

TILT Holdings Inc. (NEO:TILT) (OTCQX: TLLTF), a global provider of cannabis business solutions that include inhalation technologies, cultivation, manufacturing, processing, brand development and retail, today announces the results of the annual general and special meeting of shareholders of TILT held virtually on Thursday, June 9, 2022. Read more here.

Allied Corp.

Allied Corp. (OTCQB: ALID) announced the execution of the agreement that was announced in the April 27 press release announcing the signing of a forward purchase agreement with a distributor for a specialty medical care hospital, based out of Sao Paulo, Brazil. Read more here.

Bia Diagnostics

Bia Diagnostics, an ISO 17025 accredited laboratory and global leader in food and nutraceutical analysis since 2007, has become the first analytical lab in the state of Vermont to be licensed for adult use cannabis, and is currently accepting samples at their 480 Hercules Drive, Colchester, Vermont location. 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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