News from: SNDL, US Farm Bill, Arkansas, Turning Point Brands, and more.
The Daily Hit is a recap of the top financial news stories for Thursday, May 2, 2024.
On the Site
SNDL pushes ahead with Parallel, Skymint buys despite litigation
SNDL’s lending partner SunStream has been accused of improperly taking over companies’ assets.
Senate, House release competing versions of 2024 Farm Bill
Intoxicating hemp products were not mentioned in either pieces of the proposed legislation.
What marijuana reclassification could mean for health treatments
Many questions remain as to how marijuana would be used and what coverage and payment for such treatments would look like.
Arkansas regulators revoke a medical marijuana business license for first time
Green Springs has been cited for various violations, including failure to certify scales, improper signage, and selling expired products, among others.
Turning Point stays confident on outlook despite $368 million debt load
Zig-Zag and Stoker’s growth offset the distribution unit’s 45% sales plunge.
In Other News
Adastra Holdings
Adastra Holdings Ltd. (CSE:XTRX) will voluntarily file a Form 15F with the United States Securities and Exchange Commission to terminate its SEC reporting obligations and the registration of its common shares under Section 12 (g) the Securities Exchange Act of 1934, as amended. The company determined that the costs associated with continuing the registration exceed the benefits.
CBD of Denver
CBD of Denver, Inc. (OTC Pink: CBDD) filed its financial results for the year ended Dec. 31, 2023. Gross profit for 2023 was $595,417, a significant recovery from a gross loss of $(284,734) in 2022, due in part to a 27% increase in sales.
