06/12/2023 Alabama announces 21 medical marijuana license winners, with maximum permits for dispensaries, processors, and integrated facilities. However, only a third of cultivation licenses were granted. Indivior sublocade maker aims to expand in the US market with a Nasdaq listing. The company maintains its premium listing on the London Stock Exchange. 1CM Inc. announces a private placement to issue 3,333,333 common shares, raising up to $5M from accredited investors. Delaware appoints its first Marijuana Commissioner, Robert Coupe, responsible for overseeing regulations and issuing 125 cannabis licenses.
06/13/2023 A pair of former employees at a California marijuana company face countersuit from their ex-employer over alleged cannabis counterfeiting. Connecticut joins states providing relief from the federal 280E tax code provision for cannabis companies. They can now claim state tax breaks equivalent to federal benefits. Humble & Fume Inc. completes a $1.15M non-brokered private placement of convertible debenture units. Hempsana Holdings Ltd. restructures an investment agreement with Antosh Consulting Inc. The investor will purchase 30 million units of Hempsana for $900,000.
06/14/2023 Hexo Corp. shareholders approve the acquisition by Tilray Brands. Failure to complete the deal by month-end could result in default. Maryland regulators shut down Cookies Baltimore for advertising and security breaches. Alleged violations of cannabis regulations cited. High Tide Inc. (Nasdaq: HITI) reports a 46% increase in revenue for Q2 but remains unprofitable with a $1.6M net loss. Aurora Cannabis Inc. sees rising revenues in Q3, fueled by the contribution of acquired company Bevo. Aurora Cannabis Inc. closes its Danish facility, shifting production to Canada to reduce costs. Nordic Sky facility sold in 2022. Challenges in regulations, size, and market preferences cited. Aleafia Health Inc. (TSX: AH)(OTCQB: ALEAF) reports a slight revenue increase of 9% in Q4 ahead of the RWB acquisition. Pineapple Inc. completes the acquisition of Pineapple Wellness, expanding their presence in the Hemp-CBD industry. Plans for a flagship retail location and educational seminars.
06/15/2023 Walter Lynch , joins the board of Qredible, an AI and blockchain-based verification platform for cannabis, CBD, and hemp businesses. SOMAÍ Pharmaceuticals signs a two-year supply contract with Polish distributor Cosma Cannabis, generating $1.09M in sales for SOMAÍ's 2024 goals. RIV Capital reports Q4 & FY 2023 results: $97.9M in cash, NY cannabis cultivation facility expansion, and M&A exploration. C21 Investments files audited year-end financial statements: $28.9M revenue, $1.4M net income, positive quarterly cash flow. Cease trade order lifted on June 15, 2023.
06/16/2023 Georgia Board of Pharmacy allows independent pharmacies to distribute cannabis oil, expanding the state's cannabis market. Arkansas court ruling invalidates multiple rules in the medical marijuana industry, pending state Supreme Court decision. Michigan revokes license of Candid Labs for processing illegally purchased marijuana, disabling monitoring system. AFC Gamma Inc. faces challenges in the cannabis industry, sells off some credit facilities. Arizona several marijuana products recalled due to potential salmonella and aspergillus contamination.
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