The Daily Hit is a recap of the top financial news stories for Monday, October 28, 2024.
On the Site
StateHouse receiver says cannabis receiverships on the rise
A principal at Receivership Specialists, which was tapped by a court to oversee the distressed StateHouse Holdings, said demand for marijuana receivership services is on the upswing, particularly in California. Read more here.
Decibel Cannabis acquires AgMedica, plans private placement
Canadian licensed producer Decibel Cannabis Company Inc. (TSXV: DB) (OTCQB: DBCCF) said Monday that it acquired AgMedica Bioscience Ltd. for a C$6.3 million unsecured convertible debenture. Read more here.
New York bans some cannabis and caffeine combos, but not all
New York marijuana regulators over the summer quietly banned caffeine-infused cannabis pills, with a notice to marijuana company Hudson Cannabis and its brand 1906, which until recently sold a pair of product lines that mixed the two popular chemicals. Read more here.
Left Coast ex-CEO wants court receiver to work out frozen funds
The former head of a failed cannabis payment processor claims dozens of businesses are owed money and is urging a federal court not to release remaining funds to just one company seeking repayment. Read more here.
Body and Mind fights for survival with new credit facility
Body and Mind Inc. (CSE: BAMM) (OTC Pink: BMMJ), or BAMM, is valiantly fighting for survival as the company announced that it received a credit facility agreement with Bengal Catalyst Fund LP for up to $2.3 million, which the company said is intended to be fully drawn down. Read more here.
Florida’s potential unleashes stock rally
Investors are feeling pretty confident about Floridians passing the adult-use legislation before them, so much so that cannabis stocks with exposure to that state have rallied noticeably. Read more here.
In Other News
Colorado
Green Dragon, one of Colorado’s largest cannabis companies, is preparing to cease operations. Read more here.
Kentucky
Kentucky’s first medical marijuana business licenses were designated during a lottery draw Monday afternoon in Louisville. Read more here.
Discover more from reviewer4you.com
Subscribe to get the latest posts to your email.
