Business

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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. 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 ...

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 ...

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. ...

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 ...

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 ...

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 ...

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 ...

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 ...

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) ...