The Daily Hit: October 25, 2023

The Daily Hit is a recap of the top financial news stories for Oct. 25, 2023.

On the Site

New Mexico Pursues Unpaid Taxes From Cannabis Companies

More than 100 marijuana license holders in New Mexico were delinquent on their state taxes, leading to an enforcement push, the state Department of Taxation and Revenue announced Wednesday. Read more here.

Ascend Wellness Posts Strong Q3 Results, Leadership Changes

New York-based Ascend Wellness Holdings (CSE: AAWH.U) (OTCQX: AAWH) reported promising preliminary financial results for the third quarter ending Sept. 30, touting another period of growth and a reshuffling of some top brass. Read more here.

Midwest Women in Cannabis to Shine at Upcoming Summit

In the heart of the Windy City, an event of innovation and empowerment is about to unfold. The Midwest Women in Cannabis Summit, hosted by the Green Market Report, promises to be a transformative gathering for women seeking to make their mark in the booming cannabis industry. Read more here.

California’s Marijuana Market Remains Mired in Challenges

Many cannabis operators in California have continued to struggle, but some areas have been showing growth. Throughout the course of 2023, roughly 40 retailers have closed down, estimated Los Angeles consultant Hirsh Jain, with even more “just barely hanging on.” Read more here.

Cybin Gets More DMT Patents

Cybin Inc. (NYSE American: CYBN) (NEO: CYBN) announced that the United States Patent and Trademark Office has issued two patent grants that offer protection for its deuterated N, N-dimethyltryptamine (DMT) program. Read more here.

In Other News

Lifeist Wellness

Lifeist Wellness Inc. terminated the share purchase agreement entered into on Sept. 17 with Flora Growth Corp. to divest and sell Australian Vaporizers Pty Limited, its wholly owned Australian subsidiary, to Flora. Read more here.

Skye Bioscience

Skye Bioscience reported successful results from its Phase 1 clinical trial assessing the safety and pharmacokinetics of SBI-100 Ophthalmic Emulsion. This first-in-class cannabinoid type 1 receptor (CB1) agonist, is a prodrug uniquely formulated as an eye drop, and is being developed as a potential new mechanism to address unmet needs in the treatment of glaucoma. Read more here.

4Front Ventures Corp.

4Front Ventures Corp. announced that, in connection with its $10 million senior secured credit facility agreement, the company intends to enter into a restricted stock unit agreement with ALT Debt II LP, an affiliate of Altmore Capital, to issue a total of 15,900,000 Restricted Share Units to the lender. Read more here.

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the latest cannabis news delivered right to your inbox

The Morning Rise

Unpack the industry with the daily cannabis newsletter for business leaders.

 Sign up

About Us

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


Recent Tweets

Get the latest cannabis news delivered right to your inbox

The Morning Rise

Unpack the industry with the daily cannabis newsletter for business leaders.