Business

Jamaica’s Pure Jamaican and Seven Ten Limited Forge Path in Global Cannabis Market

LOS ANGELES- In a significant stride towards global market leadership, Pure Jamaican has initiated a groundbreaking program aimed at exporting its distinctive pharmaceutical products. This includes a range of cannabinoid compounds such as THC derived from cannabis and CBD from hemp. This ambitious venture is set to impact major international markets, notably the USA and ...

March 15th, 2024|

Week In Review: High Tide Repots Breakeven; TerrAscend say They’ve Got $26M in Tax Refunds; Cresco Still Expanding; Chicago Atlantic’s Balance Sheet Gets Better

LOS ANGELES–Welcome to the far too-exciting world of cannabis and psychedelics, where it’s earnings season with updates from some of the leading MSOs outlined below, along with a helping of innovations and financial insights from the Cannabis and Psychedelic markets. This past week the Hall of Flowers event attracted many brands and companies from all ...

March 18th, 2024|

Psyence Group Announces Strategic Business Moves

NEW YORK- In a series of strategic decisions aimed at refining its business focus and capitalizing on emerging opportunities within the psychedelic and palliative care industries, Psyence Group Inc has announced a comprehensive update on its corporate structure and future direction. This includes the successful completion of a business combination of its subsidiary The Spin-Out ...

March 12th, 2024|
  • MariMed Inc.

MariMed Reports Fourth Quarter and Full Year 2023 Earnings

NEW YORK- MariMed Inc., based in Massachusetts and operating across several states, reported its financial outcomes for the fourth quarter and the full year of 2023, revealing both achievements and challenges within a competitive cannabis market. The company experienced revenue growth and opened new facilities, yet it also faced significant financial pressures, including a transition ...

March 11th, 2024|

MedMen’s Turbulent Journey

LOS ANGELES- MedMen Enterprises, once hailed as a titan in the cannabis industry, faces a starkly uncertain future as it shuts down the majority of its dispensaries in California, its home state. The closures, which took place on Thursday, leave the company with only two operational stores in the state, signaling a dramatic downturn for ...

March 11th, 2024|

Obituary: Troy Datcher: CEO The Parent Company

LOS ANGELES- Troy Datcher, board chair of Gold Flora Corp. and a prominent Black leader in the cannabis industry, died Feb. 26 after a brief hospitalization. He was 55. Originally from Alabama, Datcher is mourned by his wife and his daughter, as well as his many family and friends. Troy Datcher, (main photo) was a ...

March 1st, 2024|

Barcelona to Host Landmark International Cannabis Business Conference in Partnership with Spannabis

LOS ANGELES- Barcelona, renowned for its vibrant cannabis culture and history, is set to host the next edition of the International Cannabis Business Conference (ICBC) on March 14, 2024. This event marks a significant partnership with Spannabis, Europe's leading cannabis expo, creating what is poised to be the world's largest cannabis superconference. The collaboration underscores ...

February 28th, 2024|

First Citizens Bank Makes Historic Leap into Cannabis Banking Landscape

NEW YORK- In a surprising move that has sent shockwaves through the financial sector, First Citizens Bank, the 19th largest bank in the nation boasting over $200 billion in assets, has announced its bold foray into the cannabis industry. This unprecedented decision marks a significant shift in the landscape of banking and cannabis relations, as ...

February 28th, 2024|

Strategic Merger Unites Chicago Atlantic and Silver Spike, Reshaping Cannabis Financing Landscape

In a notable development within the cannabis financing sector, Chicago Atlantic and Silver Spike, two prominent lenders, have announced their merger. This strategic move is poised to create a significant shift in the landscape of cannabis lending by combining the strengths and resources of both entities. The agreement entails Chicago Atlantic transferring approximately $130 million ...

February 28th, 2024|

Aurora Cannabis Welcomes New CFO Simona King

LOS ANGELES- Aurora Cannabis Inc., a Canadia global medical cannabis industry, has announced the appointment of Simona King as its new Chief Financial Officer (CFO), effective February 21, 2024. King, a seasoned finance executive with over 25 years of experience, joins Aurora from Bristol Myers-Squibb, a leading global pharmaceutical company, where she played a pivotal ...

February 27th, 2024|

REVIEW: Green Dreams and Growing Pains: Benzinga’s L.A. Event Sheds Light on the Future of California’s Cannabis Industry

LOS ANGELES- At the Benzinga Market Spotlight event in the Bioscience LA venue, discussions unfolded that highlighted the diverse strategies and viewpoints within California's cannabis industry. One of the key speakers at Benzinga LA was Kyle Kazan, co-founder and CEO of Glass House Brands Inc., Kyle offered a comprehensive overview of the challenges and opportunities ...

February 26th, 2024|

Las Vegas Welcomes Its First Licensed Cannabis Consumption Lounge

LOS ANGELES- Las Vegas, a city famed for its vibrant nightlife and sprawling casinos, has reached a new milestone in its diverse entertainment offerings with the opening of "Smoke and Mirrors," its first licensed cannabis consumption lounge. This development comes seven years after Nevada voters gave the green light to cannabis legalization, introducing a legal ...

February 27th, 2024|

Ascend Wellness Boosts Massachusetts Presence with Second Cultivation License Acquisition

LOS ANGELES- Ascend Wellness Holdings, Inc., a player in the cannabis industry, has announced its acquisition of a second cultivation license and associated operations in Massachusetts, marking a significant expansion of its cultivation and production capabilities within the state. While the financial details of the transaction were not disclosed, the strategic move underscores Ascend's commitment ...

February 22nd, 2024|

Filament Health Achieves Milestone with Botanical Psilocybin Export to Israel

LOS ANGELES- In a significant development for psychedelic medicine, Filament Health Corp. (OTCQB: FLHLF) announced it has successfully exported PEX010, its botanical psilocybin drug candidate, to Israel, marking a first for the country. This shipment is intended for a clinical trial at Hadassah University Hospital, focusing on the treatment of treatment-resistant obsessive-compulsive disorder (TR-OCD) and ...

February 20th, 2024|

Virginia Legislators Propose Divergent Paths for Adult-Use Cannabis Sales

LOS ANGELES- In a notable move toward the commercialization of adult-use cannabis, Virginia's legislative bodies are progressing with distinct proposals aimed at kickstarting regulated sales by the upcoming year. This initiative comes after the legalization of cannabis in 2021, which did not extend to the licensing and regulation of its market, a matter that has ...

February 19th, 2024|

Navigating the Complexities of Cannabis Payments: A Debit and Credit Card Conundrum

LOS ANGELES- In the rapidly expanding cannabis industry, where legality varies from state to state and the federal government maintains its stance against cannabis, the landscape of payment processing remains fraught with challenges. Among the many hurdles facing cannabis businesses, the inability to accept credit and debit card payments stands out as a significant barrier ...

February 12th, 2024|

Red Light Holland Partners with PharmAla Biotech

NEW YORK- In a strategic move to bolster its North American presence, Red Light Holland a Toronto-based company, has entered into a significant consulting agreement with synthetic psychedelics manufacturer PharmAla Biotech Holdings Inc. The collaboration, announced on Thursday, aims to navigate the complex regulatory landscape and achieve Good Manufacturing Practice (GMP) standards for Red Light ...

February 11th, 2024|

Cannabis and Exercise: Challenging Stereotypes of ”Lazy Stoner”

DENVER- In a recent study conducted at the University of Colorado at Boulder, researchers delved into the relationship between cannabis consumption and exercise habits among older Americans. Contrary to prevailing stereotypes, the findings challenged the notion of the 'lazy-stoner' archetype, revealing that cannabis consumers tended to exhibit more robust engagement in physical activities compared to ...

February 6th, 2024|

Silo Pharma Announces Strategic Focus on Psychedelic and Traditional Therapeutics for 2024

LOS ANGELES- Silo Pharma, Inc., a developmental stage biopharmaceutical company, has outlined a strategic focus for its clinical pipeline in 2024, emphasizing the advancement of novel formulations and drug delivery systems for both traditional therapeutics and psychedelic treatments. The company is set to prioritize the development of four innovative drugs targeting critical health areas: mental ...

February 5th, 2024|

FSD Pharma Bolsters Board and Enhances Market Strategy with New Appointments and Partnerships

LOS ANGELES- FSD Pharma, a player in the biopharmaceutical industry with a focus on innovative assets and biotech solutions, announced a significant change in its leadership and strategic partnerships. Dr. Sanjiv Chopra, a renowned figure in the medical field, has been appointed to the company's board of directors, replacing Nitin Kaushal. This move aligns with ...

January 30th, 2024|

Review: Beard Bros Friday Sesh Live Event: Los Angeles

LOS ANGELES-The Beard Bros Pharms Friday Sesh Live event held in the scenic confines of an undisclosed venue by the sea in Malibu was an immersive dive into the heart of California's cannabis industry.  Despite the spacious and picturesque location, attendance was limited, adhering to the Fire Marshal's orders on venue capacity, adding an exclusive ...

January 29th, 2024|

Unpacking the Impact: CDTFA’s Strain on California’s Cannabis Industry, Recent Developments, and Industry Advocacy

LOS ANGELES–California, a trailblazer in the legalization of recreational cannabis, has faced challenges as the industry seeks to establish itself and cannabis companies in California make great efforts to flourish within the state. The California Department of Tax and Fee Administration (CDTFA) has emerged as a pivotal player, sparking debates and concerns within the sector ...

January 22nd, 2024|

Clearmind Medicine Inc. Regains Compliance with Nasdaq Listing Requirements

Clearmind Medicine Inc. a biotech company in the field of psychedelic-derived therapeutics, has successfully regained compliance with Nasdaq's minimum bid price requirement. The company, known for its innovative approach to addressing major health challenges, received formal notification from The Nasdaq Stock Market LLC on December 12, 2023, confirming its adherence to the Nasdaq Listing Rule ...

January 21st, 2024|
  • Cannabis Cultivation Market

Minnesota Prepares for Adult-Use Cannabis Market

LOS ANGELES- In anticipation of its burgeoning adult-use cannabis market, Minnesota officials have outlined a need for at least 381 cannabis dispensaries to comply with the state's legalization law, a recent report indicates. This determination, put forth by Minnesota cannabis regulators in a comprehensive report, is in line with the state’s legalization law requirement of ...

January 18th, 2024|

Numinus Wellness Inc. Announces First Quarter Fiscal 2024

NEW YORK – Numinus Wellness Inc. a mental health care emphasizing psychedelic-assisted therapies, has released its financial figures for the first quarter of fiscal year 2024, ending November 30, 2023. The results reveal a nuanced financial picture, marked by both gains in gross profit and challenges in revenue generation. The company reported a gross profit ...

January 16th, 2024|
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