The Daily Hit: December 19, 2024
- Farm Bill extension leaves hemp industry rules intact until March 2025
- Cansortium completes merger with RIV Capital and plans to expand in New York
- Massachusetts regulators order single-lab testing to address inconsistent practices in cannabis industry
- Nine New York social equity retailers seek to join lawsuit halting cannabis licensing for a third time due to financial concerns
The Daily Hit is a recap of the top financial news stories for Thursday, December 19, 2024.
Farm Bill extension leaves hemp industry rules intact for now, including intoxicating products
The farm bill extension would run through March 2025.
Read more here.
Cansortium completes merger with RIV Capital, plans to scale up in New York
Scotts Miracle-Gro, which is a major investor in RIV, also benefits from the deal.
Read more here.
Massachusetts regulators order single-lab testing to combat cannabis lab shopping
The rule change follows growing evidence of inconsistent testing practices in the state’s $7 billion cannabis industry.
Read more here.
Nine New York social equity retailers ask to join lawsuit halting cannabis licensing for 3rd time
A court filing argued that the group of CAURDs are in danger of bankruptcy if the injunction is not removed soon.
Read more here.
Greenway Greenhouse Cannabis Corp.
Greenway Greenhouse Cannabis Corp. entered into an asset purchase agreement to acquire all of Choice Growers’ consumer packaged goods brands, SKUs and listings of the brands, trademarks, goodwill and other associated intellectual property. This acquisition encompasses all of Choice Growers’ brands, including Grapefruit God Bud (also known as Grape God), The Jeffrey, Watermelon Pebbles, Pink Lemonade, Duke Nukem, Tangerine Dream and Blackberry Cheesecake.
Read more here.
Innocan Pharma Corp.
Innocan Pharma Corp. intends to complete a non-brokered private placement of up to 3.5 million units of the company at a price of C$0.20 per unit for gross proceeds up to C$700,000 plus 15% overallotment options. The offering is expected to close on or around Dec. 31.
Read more here.