Business
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
Canadian Cannabis Market Updates: A New Regulatory Shift in Ontario’s Cannabis Retail Landscape
TORONTO- Announced on November 30 and implemented on January 1, Ontario's cannabis market witnessed a significant policy change, allowing one company to operate up to 150 recreational cannabis stores—a notable increase from the previous cap of 75. This development, as reported by Solomon Israel for MJ Biz Daily, has sparked diverse reactions within the industry. ...
Federal Scientists Advocate for Reclassifying Cannabis to Schedule III
LOS ANGELES-In a significant shift in federal policy, scientists from the Health and Human Services (HHS) have recommended reclassifying cannabis from a Schedule I to a Schedule III substance, as revealed in recently unredacted documents. This recommendation follows a detailed 250-page scientific review submitted to the Drug Enforcement Administration (DEA) in August 2023, which argued ...
PSYC Corporation CEO Addresses Company Challenges and Future in Detailed Podcast Update
NEW YORK — PSYC Corporation , the parent company of Spotlight Media Corporation (SMC), a leader in media for emerging sectors like medicinal psychedelics, recently released a video podcast featuring CEO David Flores. The podcast, recorded on January 2, 2024, aimed to provide shareholders and interested parties with a comprehensive update on the company's current ...
Maine’s Booming Cannabis Market Faces Challenges Amid Falling Prices
LOS ANGELES— Maine's regulated adult-use cannabis industry recorded over $200 million in sales in 2023, marking a significant 36% increase from the previous year. Despite these robust figures, released by the state Office of Cannabis Policy, the industry faces potential hurdles due to declining prices and market saturation. John Hudak, Director of the Office of ...
Canopy Growth Secures US$30 Million in Private Placement to Bolster Liquidity and Reduce Debt
NEW YORK – In a significant move to strengthen its financial position, Canopy Growth Corporation, a leading North American cannabis and consumer packaged goods company, has announced a major private placement offering. On January 9, 2024, the company confirmed its entrance into subscription agreements with various institutional investors for approximately US$30 million. This strategic financial ...
4Front Ventures Corp. Initiates Comprehensive Financial and Leadership Revamp
LOS ANGELES- In a pivotal development, 4Front Ventures Corp., a multi-state cannabis operator, has embarked on a transformative journey, reshaping its financial landscape and ushering in a new era of leadership. This strategic shift is marked by a significant agreement with LI Lending, LLC, the company's primary financier, to convert a major portion of its ...
Navigating the Financial Chaos: Cannabis Dispensaries Seek Stability Amidst Credit Card Upheaval
LOS ANGELES-In the fast-evolving landscape of the cannabis industry, the constant shutdowns of credit card payment platforms for dispensaries have become a recurring theme. This article delves into the intricacies of the issue, exploring the underlying reasons for this financial tumult and presenting viable solutions that promise stability for cannabis businesses. The primary catalyst for ...
Cannabis Businesses in America Face a Big Headache: FinCEN’s Corporate Transparency Act Has Arrived
LOS ANGELES- Enacted by Congress in 2021, the Corporate Transparency Act (CTA) went into effect on January 1, 2024 and affects more than 30 million American small businesses and many smaller foreign companies doing business in the United States. Unless exempted, these businesses must provide ownership information to the Treasury’s Financial Crimes Enforcement Network (FinCEN) ...
Copy of BetterLife Pharma Secures Funding to Advance Innovative Mental Health Treatment
LOS ANGELES — BetterLife Pharma Inc. ("BetterLife"), a biotech company at the forefront of mental disorder treatments, has announced the successful closing of $300,000 in convertible debentures. This funding is a strategic step towards the development of their lead compound, BETR-001, a non-hallucinogenic derivative of LSD, poised to revolutionize the treatment of psychiatric disorders. BETR-001, BetterLife's ...
BetterLife Pharma Secures Funding to Advance Innovative Mental Health Treatment
LOS ANGELES — BetterLife Pharma Inc. ("BetterLife"), a biotech company at the forefront of mental disorder treatments, has announced the successful closing of $300,000 in convertible debentures. This funding is a strategic step towards the development of their lead compound, BETR-001, a non-hallucinogenic derivative of LSD, poised to revolutionize the treatment of psychiatric disorders. BETR-001, BetterLife's ...
Filament Health and Jupiter Acquisition Corp. Call Off Merger
NEW YORK- – In a significant shift in the business landscape, Filament Health Corp. (OTCQB: FLHLF) (NEO: FH) and Jupiter Acquisition Corp. (Nasdaq: JAQC) have mutually decided to terminate their business combination agreement. This decision was reached following advice that substantial modifications were necessary to meet Nasdaq's listing requirements, underscoring the complex regulatory challenges companies face ...
MedMen Reduces Operations to Four States with Sale of Arizona and Nevada Assets
LOS ANGELES- MedMen Enterprises Inc., a Florida-based cannabis company known for its extensive operational struggles, has taken a significant step in restructuring its business. On Wednesday, the company announced its decision to divest its cannabis assets in Arizona and Nevada, selling them to Mint Cannabis, an Arizona-based multistate operator. This strategic move signals MedMen's exit ...
Clearmind Medicine Inc. Regains Nasdaq Compliance with Enhanced Bid Price Stability
LOS ANGELES- Clearmind Medicine Inc. has recently achieved a significant financial milestone. The biotech company, known for its innovative approach in developing psychedelic-derived therapeutics, announced its regained compliance with Nasdaq's minimum bid price requirement. This development marks a pivotal moment for the company, reflecting its growing stability and confidence in the financial markets. On December ...
