The Daily Hit is a recap of the top financial news stories for Oct. 23, 2023.
On the Site
Croptober: Market Snapshots of Four Key Outdoor Harvesting States
It’s the time of year when months of careful planning and execution come to a head for untold numbers of outdoor cannabis growers, both personal and commercial. With the winds informing cultivators that it’s time to harvest their crops, the month has earned the moniker “Croptober.” Read more here.
Captain Cannabis Creator Wins Trademark Battle
In the epic battle between Cosmic Crusaders and LaVerne John Andrusiek over the character Captain Cannabis, a court decided that the trademark belonged to Andrusiak, who had been using the name since the 1970s. Read more here.
AgriCann Acquires Newline Ventures in Expansion Push
AgriCann Solutions Corp. announced Monday that it acquired Newline Ventures Inc., a strategic move set to grow its cannabis operations across Canada. Under terms of the deal, AgriCann paid $165,000 in cash and dispensed more than 38 million shares. Read more here.
Ayr Wellness Nevada Dispensary Workers Vote to Unionize
Workers at a Las Vegas marijuana shop voted to organize with the United Food and Commercial Workers Union on Friday, according to the UFCW Local 711. The Ayr Wellness (CSE: AYR.A) (OTCQX: AYRWF) location in Las Vegas, which does business as The Dispensary, is the second Ayr-owned dispensary where workers voted to join the UFCW. Read more here.
In Other News
A creditor and stockholder of Parallel, a multistate cannabis operator once run by chewing gum heir William “Beau” Wrigley Jr., is suing in Delaware’s Court of Chancery to stop what he calls a “highly conflicted” restructuring of the company that would “fraudulently” transfer $17.5 million he is owed under a Delaware Superior Court judgment. Read more here.
BellRock Brands Inc. (CSE: BRCK.U), a multistate house of cannabis brands, entered into a licensing agreement with Dark Horse Medicinals LLC to bring the Mary’s Medicinals and Dixie Brands to Arkansas. Read more here.
Digicann Ventures Ltd. (CSE: DCNN) (OTCPK: AGFAD) closed the sale of the shares of AgraFlora Europe GmbH to an arm’s length third party for gross cash proceeds of €500,000. AgraFlora Europe was set up to be a commercial platform for the import, storage, and wholesale distribution of cannabis products and ancillary products for medicinal purposes. Digicann was the sole shareholder of AgraFlora Europe. Read more here.