The Daily Hit: November 28, 2022

The Daily Hit is a recap of cannabis business news for Nov. 28, 2022.

ON THE SITE

Veterans’ Plight Spotlights Need for Cannabis Legalization as Congress Moves Research Bill

As a historic House-passed cannabis research bill makes its way to President Joe Biden’s desk after surviving a Senate vote, questions remain regarding its impact on the future of federal legalization. One group whose concerns get washed in the stalemates and political acrobatics: former service members facing the specter of stigma and barriers to accessing safe medicine. Read more here.

NY Cannabis Regulators Disclose How They Chose Licensees

Retail cannabis applicants who lived in low-income areas, in public housing or were homeless when they were convicted of marijuana-related offenses had an advantage in the application process for legal cannabis dispensaries, according to details newly revealed in court papers. Read more here.

Bill Would Make Cannabis Companies Eligible for SBA Loans

A Democratic senator has formally introduced a bill that, if successful, would make U.S. cannabis companies fully eligible for federal loans through the Small Business Administration. Read more here.

Done Deals: Trees, Bright Minds

Despite the challenges of raising capital these days in the cannabis and psychedelics industry, two companies managed to close deals before the end of the year.

Read more here.

Cantor Issues Upbeat Cannabis Report

Cantor Fitzgerald analyst Pablo Zuanic wrote an upbeat research report on the major cannabis companies despite the somewhat depressing tone in the industry. Despite the sunny optimism, he opted to leave ratings, estimates, and price targets unchanged. Read more here.

More Earnings Reports

IN OTHER NEWS

Cannibble Foodtech Ltd.

Cannibble Foodtech Ltd., (CSE: PLCN), a food tech company that develops and manufactures hemp-enhanced food and beverage products, has entered into a share purchase agreement to acquire Eshbal Functional Foods Cooperative Ltd., a private Israeli gluten-free food tech manufacturer. Read more here.

Hempacco

Hempacco Co. Inc. (Nasdaq: HPCO), a hemp smokables company, entered into a joint venture agreement with Sonora Paper Co. Inc. to manufacture, market, and distribute hemp blunt wraps, hemp tubes, and hemp smoking cones based on SPCI’s intellectual property. Read more here.

Hempacco also entered into a joint venture agreement with High Sierra Technologies Inc. (OTC: HSTI) for the production, marketing, and sales of hemp smokables. Pursuant to this agreement, HSTI and Hempacco formed a new Nevada corporation known as Organipure Inc, in which HSTI and Hempacco each own 50% equity interest. 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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