The Daily Hit is a recap of cannabis business news for Sept. 8, 2022.
ON THE SITE
How Much Is An ‘Arm And A Leg?’: It Might Be $1 Million In Florida, Insiders Say
During a recent press conference, Florida Gov. Ron DeSantis mulled pushing for a steep hike in business license fees in the next round of applications from those vying to enter one of the fastest growing cannabis markets in the country. Since then, the cannabis industry in Florida has been trying to decipher just how much the next round of licenses might cost. Read more here.
Cresco Completes Sale-Leaseback Deal In Pennsylvania To Free Up Capital
Chicago-based Cresco Labs (CSE: CL) (OTCQX: CRLBF) this week completed another sale-leaseback arrangement, this time with Aventine Property Group for a facility in Pennsylvania, from which Cresco gained $45 million in cash. Read more here.
Minority-Owned Illinois Company Raises $17M, Warns Industry Could ‘Collapse’
Within the span of a week, a vertically integrated and minority-owned company in Illinois has both raised $17 million in funding and warned others the state cannabis industry is “on the verge of collapse.” Read more here.
IN OTHER NEWS
Ayurcann Closes Acquisition of Joints and Hustle & Shake
Ayurcann Holdings Corp. (CSE: AYUR) (OTCQB: AYURF) (FSE: 3ZQ0), a Canadian cannabis extraction company specializing in the processing and co-manufacturing of pharma grade cannabis and hemp, has closed its acquisition of Joints and Hustle & Shake for C$5.5 million. Read more here.
Leviathan Natural Products Changes Corporate Name to 1CM
Leviathan Natural Products (CSE: EPIC) (OTCQB: LVCNF) (FSE: IQ7) received shareholder approval to change its corporate name to 1CM. The company will continue to trade under its current stock symbol EPIC. Read more here.