Business

NEW YORK— Following the implementation of the Cannabis Act in 2018, Health Canada's recently released "What We Heard Report" paints a complex picture of the nation’s adult-use cannabis industry. While the legalization of cannabis for adult use has made significant strides in its economic impact and curtailing illegal sales, several challenges lie ahead for businesses ...

LOS ANGELES-- 4Front Ventures Corp. a multi-state, vertically integrated cannabis operator and retailer, has publicized its recent procurement of a $10 million senior secured credit facility agreement. The agreement is with ALT Debt II, LP, an affiliate of the financial powerhouse, Altmore Capital. This strategic move comes as 4Front seeks to channel these funds into ...

DENVER — August witnessed Colorado's recreational cannabis market and its established medical marijuana industry reach a significant landmark, achieving over $15 billion in cumulative sales since the inauguration of the adult-use market in January 2014. This accomplishment is rooted in the state's Department of Revenue data, which reveals cannabis sales in August amounted to $132.4 ...

  NEW YORK — In a significant legal triumph, FSD Pharma Inc. a Canadian biopharmaceutical firm, received a favorable ruling from the Ontario Superior Court of Justice on Thursday against its former chief executive, Dr. Raza Bokhari. The conflict traces back to May, when an arbitration verdict mandated Bokhari to remit C$2.81 million to FSD ...

LOS ANGELES — In a significant push to bolster its nascent cannabis sector, the New Jersey Economic Development Authority (NJEDA) announced a $12 million grant award to 48 marijuana enterprises as part of the state's Cannabis Equity Grant Program. Originally, the plan was to allocate $250,000 grants to 24 businesses. However, with Governor Phil Murphy ...

LOS ANGELES- Lucy Scientific Discovery Inc. has been in the spotlight, not for its recent acquisitions but for missing its annual report filing deadline with the U.S. Securities and Exchange Commission (SEC). While the company has kept its investors in the loop about anticipated losses, the official documents are expected to be filed by Oct. ...

LOS ANGELES— Among decaying cornstalks and scarecrows, spanning 120 acres north of Paw Paw on County Road 665, stands a rich, green crop of lucrative trees — marijuana plants from Grasshopper Farms. In the cannabis industry, the annual October harvest, known as "Croptober", signifies the reaping of the state's outdoor marijuana crops. This season, Florida ...

NEW YORK — The Empire State today marked the opening of its general cannabis licensing window, despite the legal blockade on its Conditional Adult-Use Retail licensing program put in place by a judicial ruling in August. The current 60-day phase allows submissions for a spectrum of cannabis licensing, encompassing cultivators, processors, distributors, retailers, and micro ...

DETROIT–Michigan is set to become the epicenter of the cannabis industry as the highly anticipated MJUnpacked Conference unfolds from October 10th to 12th, 2023. This distinctive event, organized by Jage Media, Inc., promises an exclusive gathering of nationwide license holders and accredited investors, providing a unique platform for networking, collaboration, and strategic planning. An Exclusive ...

LOS ANGELES- In a recent development marking a leap in the medical application of ketamine, PharmaTher Holdings announced that the U.S. Food and Drug Administration (FDA) accepted the Abbreviated New Drug Application (ANDA) for its KETARX ketamine product. The target date for this priority original ANDA, under the 2022 Generic Drug User Fee Amendments (GDUFA), ...

LOS ANGELES- The cannabis industry has experienced unprecedented growth and transformation in recent years, driven by changing regulations and shifting consumer attitudes. As the market matures, cannabis operators are increasingly looking to streamline operations, improve efficiency, and position themselves for long-term success. One crucial strategy in achieving these goals is company-wide restructuring. However, this process ...

LOS ANGELES- Cybin Inc. (CYBN) announced the successful enrollment completion in its Phase 2 study of CYB003, a novel deuterated psilocybin analog, which is being assessed for potential treatment benefits in Major Depressive Disorder (MDD). The final, sixth cohort of the study has seen participants receive either a placebo or a 16mg dose of CYB003. ...

LOS ANGELES- In a significant stride towards revolutionizing treatments for mental health disorders, Enveric Biosciences disclosed that it has secured a pivotal patent from the United States Patent and Trademark Office. Granted on September 12, 2023, the U.S. Patent No. 11,752,130 titled "Carboxylated Psilocybin Derivatives and Methods of Using," pertains to Enveric's developing EVM301 Series ...

NEW YORK, NY–In recent days, cannabis stocks have been on an upward trajectory, buoyed by positive regulatory developments. This rally has sparked optimism among investors, particularly in the Canadian Licensed Producers (LPs) and U.S. Multistate Operators (MSOs) segments. The resurgence began following reports of a leaked letter from the U.S. Department of Health and Human ...

LOS ANGELES– In a significant move underscoring its commitment to fortifying its financial foothold, Canopy Growth Corporation, a player in the North American cannabis and consumer packaged goods sector, announced on Monday its entry into subscription agreements for a private placement offering. Strategic Financial Maneuver In an announcement made through a press release dated September ...

NEW YORK - Columbia Care Inc., a cultivator, manufacturer, and retailer of cannabis products in the U.S, has embarked on the next stage of its strategy to enhance its balance sheet, commencing with a private placement agreement to improve its financial stability and pave the way for further growth. A Structured Financial Initiative The New ...

LOS ANGELES- In an effort to revitalize the state's cannabis industry and bolster tourism in dormant urban areas, California assemblymember Matt Haney (D-San Francisco) has introduced legislation that may potentially reshape the existing cannabis marketplace. AB 374, a proposed bill that garnered substantial bipartisan support, seeks to empower local governments to license cafes where people ...

LOS ANGELES- In the state of Maine, the burgeoning adult-use cannabis sector is witnessing a significant uptick in sales, reaching a pinnacle in August with revenues exceeding $21 million, as per data released by the state's Office of Cannabis Policy. This surge is a testament to the steadily growing market, which is poised to eclipse ...

NEW YORK - In a pivotal move, the New York Cannabis Control Board has greenlit a comprehensive set of regulations that lays the foundation for a significant expansion of the Empire State's burgeoning cannabis industry. The regulations, enthusiastically approved by the Cannabis Control Board, meticulously detail the licensing and operational protocols for various facets of ...

NEW YORK-- In a significant move that could reshape the cannabis landscape in New York, state regulators voted on Tuesday to permit existing medical cannabis operators to apply for adult-use retail licenses. This decision potentially positions these operators to dominate what is anticipated to be one of the largest markets on the East Coast. The ...

LOS ANGELES–California is poised to become the third state in the nation to decriminalize the use of psychedelics, following the State Assembly's recent approval of a bill. This legislation would grant individuals aged 21 and older the right to possess and utilize limited quantities of natural psychedelic substances like psilocybin (found in hallucinogenic mushrooms), dimethyltryptamine ...

LOS ANGELES–California is poised to become the third state in the nation to decriminalize the use of psychedelics, following the State Assembly's recent approval of a bill. This legislation would grant individuals aged 21 and older the right to possess and utilize limited quantities of natural psychedelic substances like psilocybin (found in hallucinogenic mushrooms), dimethyltryptamine ...

LOS ANGELES-- In a strategic shift indicative of changing market dynamics, Tilt Holdings, a prominent Phoenix-based cannabis operator, has resolved to sever its ties with a cannabis partnership initiated with the Shinnecock Nation. A mere three weeks after divulging its intention to reassess the business arrangement, the firm has formally announced the sale of its ...