The Daily Hit: September 26, 2022

The Daily Hit is a recap of cannabis business news for Sept. 26, 2022.

ON THE SITE

California Regulator Says Illegal Cannabis Business Should Pay $128 Million

California’s cannabis regulation authority wants a group of business owners to pay $128 million in collective penalties for manufacturing and selling unlicensed products in the state for more than a year – which the state says the defendants admitted in court. Read more here.

Green Thumb Accused of Sex and Age Discrimination

Green Thumb Industries (OTC: GTBIF) was accused of sex and age discrimination by a former employee that worked in a Rise dispensary in Pennsylvania. Carrie Baker filed the complaint on Sept. 22 alleging that she was “forced out” for not fitting with the corporate culture, which was described to her as young, single men. Baker is in her mid-fifties and said she was passed over for a shift supervisor role given to a substantially younger male co-worker. Read more about the case here.

Hemp-Derived Delta-8 Skirts Laws, Raises Health Concerns

At least a dozen states have banned the hemp-derived product, including Colorado, Montana, New York and Oregon, which have legalized marijuana. But delta-8 manufacturers call the concerns unfounded and say they’re driven by marijuana businesses trying to protect their market share. Read more here.

Incubator 1871 to Launch Cannabis Program

1871 is getting into weed. The startup incubator at the Merchandise Mart plans to launch a cannabis-industry innovation lab, bringing startups together with larger companies. The four-month program will launch in January in partnership with Grown In, a Chicago-based startup focused on providing cannabis training. Read more here.

Berner’s Cookies Heads to Pennsylvania, Wiz Khalifa Takes on Florida

TerrAscend said that it has entered into a multi-year agreement with TRP – the cannabis holding and operating company with the exclusive rights Cookies products – to cultivate and manufacture Cookies products in the Keystone State. Read more.

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) will launch Khalifa Kush medical cannabis products in Florida this weekend — part of an exclusive partnership with multi-platinum selling artist Wiz Khalifa. Read more.

IN OTHER NEWS

UK-Based Cannabinoid Product Producer Looks to Acquire Cannaray Brands, Love CBD Health

Cellular Goods (LSE: CBX), UK-based wellness company providing lab-produced cannabinoid products, has signed a letter of intent to acquire Cannaray Ltd, the owner of Cannaray Brands Ltd and Love CBD Health Ltd. Under the terms of the deal, Cellular Goods will complete a reverse takeover of the Cannaray subsidiaries and acquire 100% of the issued share capital. Read more here.

Amazon Still Says No to Drugs, Boots Marijuana Businesses

Amazon says its guidelines around drugs and drug paraphernalia are longstanding and state that products can’t be primarily designed for making, preparing or using a controlled substance. For example, grinders that are equipped with features specifically for marijuana-related use are not allowed on the platform. Read more here.

4Front Ventures Launches Premier California Cannabis Brand in Massachusetts

4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF), a vertically integrated, multistate cannabis operator and retailer, has brought its premier California cannabis brand, Island Cannabis Co., to Massachusetts. Following the company’s acquisition of Island in April, 4Front began cultivating 11 new Island flower strains at its state-of-art flower facilities located in Holliston, Georgetown and Worcester, Massachusetts. 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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