News
Rubicon Organics Reports Q2 2024 Financial Results
LOS ANGELES- Rubicon Organics Inc. a licensed producer specializing in organic and premium cannabis, released its financial results for the second quarter ending June 30, 2024. The company reported record net revenue of CAD 12.1 million, representing a 7% increase from the same period in 2023. For the first six months of 2024, Rubicon's net ...
Filament Health Reports Q2 2024 Results
LOS ANGELES- Filament Health Corp, a clinical psychedelic drug development company, has released its financial results for the second quarter ending June 30, 2024. The company highlighted its progress in advancing drug candidates targeting substance use disorders and provided updates on its financial position and management changes. Financial Performance Filament reported revenue of CAD 407,640 ...
North Dakota Voters to Decide on Cannabis Legalization for Third Time
LOS ANGELES- North Dakota voters will have another opportunity to legalize adult-use cannabis this November after Secretary of State Michael Howe announced on August 12 that the necessary signatures had been validated for the measure to appear on the ballot. This marks the third attempt to pass such a measure following unsuccessful efforts in 2018 ...
Tilray Expands U.S. Presence with Acquisition of Four Molson Coors Craft Breweries
LOS ANGELES- Tilray Brands has announced the acquisition of four craft breweries from Molson Coors, marking a significant expansion of its U.S. operations. The financial details of the deal were not disclosed. The acquired breweries include Hop Valley Brewing Co. (Oregon), Terrapin Beer Co. (Georgia), Revolver Brewing (Texas), and Atwater Brewery (Michigan). Tilray expects to ...
Optimi Health and Psyence Biomedical Sign LOI for Psilocybin Supply Agreement
LOS ANGELES- Optimi Health, a GMP-approved and Health Canada-licensed psychedelics pharmaceutical manufacturer, has entered into a non-binding Letter of Intent (LOI) with Psyence Biomedical Ltd. . This partnership positions Optimi as the exclusive supplier of nature-derived (non-synthetic) psilocybin extract for Psyence's global drug development and commercialization efforts, particularly within the FDA-approved palliative care context. Under ...
Emerald Cup Unites with Local Oakland Dispensary Lounge Urbana for 20th Anniversary Celebrating Legacy and Community
OAKLAND — As the Emerald Cup marks its 20th anniversary this year, the event continues to evolve while staying true to its roots. Often hailed as the "Academy Awards of Cannabis," the Emerald Cup is celebrated for its commitment to honoring the best in cannabis while fostering a strong sense of community. Seeking a local ...
Award-Winning Cannabis Farm Tikun Olam’s Secret to Exceptional Cannabis Yields
LOS ANGELES — An international award-winning cannabis company backed by 15 years of clinical research, Tikun Olam, knows a thing or two about growing world-class crops. They also know that optimizing their facility protocols can lead to dramatic gains in potency, yield, and profit. With over 60,000 square feet of greenhouse space and more than ...
Silo Pharma Collaborates with WuXi AppTec for Preclinical MS Research
Silo Pharma Inc. a biopharmaceutical company, has entered into a collaboration with WuXi AppTec to conduct preclinical research on a novel peptide, SPU-16, aimed at treating multiple sclerosis (MS). This partnership focuses on assessing the tissue specificity of SPU-16, which is designed to target inflamed tissues in the central nervous system, particularly within the spinal ...
MariMed Reports Q2 2024 Earnings with Revenue Growth Amid Margin Pressures
LOS ANGELES- MariMed Inc., a Massachusetts-based multistate cannabis operator, reported its financial results for the second quarter of 2024, revealing strong revenue growth alongside increased expenses and margin pressures as the company continues to expand its operations. The company achieved revenue of $40.4 million for the quarter ending June 30, marking an 11% increase from ...
Week In Review: DEA’s Proposed Rescheduling of Cannabis Sparks Public Response; The Battle Over Recreational Cannabis Legalization Heats Up; Harris-Walz Ticket First to Support Federal Cannabis Legalization
LOS ANGELES–Welcome to the far too-exciting world of cannabis and psychedelics, where it’s a tale of two markets with some states doing amazingly well. And some, well...they're not doing so well (hello New York). Let's get to it! Cannabis Industry Highlights #1 DEA's Proposed Rescheduling of Cannabis Sparks Public Response: The Drug Enforcement Administration (DEA) ...
Experts Advocate for Rescheduling Psilocybin to Unlock Mental Health and Economic Benefits
LOS ANGELES- A group of academics from The University of Manchester, supported by Policy@Manchester, has submitted evidence advocating for the rescheduling of psilocybin under the UK's drug laws. The submission, authored by Professor Jo Neill, Dr. Sara Tai, and Dr. John Gigg, highlights the therapeutic potential of psilocybin and other psychedelics in treating severe mental ...
Planet 13 Reports Q2 2024 Revenue Growth
LOS ANGELES- Planet 13 Holdings Inc. a vertically integrated multistate cannabis operator, announced its financial results for the second quarter of 2024, highlighting robust revenue growth driven by strategic acquisitions and expanding operations. For the three-month period ending June 30, 2024, Planet 13 reported revenue of $31.1 million, a 20.3% increase from $25.8 million in ...
AFC Gamma Reports Q2 2024 Earnings with Transition to Pure-Play Cannabis Lender
LOS ANGELES- AFC Gamma, Inc. a Florida-based commercial focused on the cannabis sector, reported solid financial results for the second quarter of 2024, reflecting its strategic shift to become a pure-play cannabis lender. The company posted GAAP net income of $16.4 million, or $0.80 per basic weighted average common share, and distributable earnings of $11.4 ...
Harris-Walz Ticket First to Support Federal Cannabis Legalization
LOS ANGELES- Vice President Kamala Harris and Governor Tim Walz have made history by becoming the first major party presidential ticket to endorse the federal legalization of cannabis. This move aligns with the growing national support for cannabis reform, with polls indicating a significant majority of voters favoring legalization. Harris, who has evolved her stance ...
Growlink Secures $2 Million Seed Funding to Enhance AI Capabilities and Integration Platform
LOS ANGELES- Growlink, a provider of advanced Internet of Things (IoT) controllers, sensors, and cultivation software for controlled environment agriculture, has closed a $2 million seed financing round led by Casa Verde Capital. The funding will enable Growlink to expand its AI capabilities and enhance its third-party integration platform, ensuring compatibility with various hardware systems. ...
Advanced Nutrients Honored with International Cannabis Award for Best Fertilizer USA 2024
LOS ANGELES — Advanced Nutrients continues to lead the cannabis cultivation market, garnering the International Cannabis Award for Best Fertilizer USA 2024. This recognition underscores the company's longstanding commitment to innovation and excellence in cannabis cultivation. In a notable achievement coinciding with their presence at the International Cannabis Business Conference (ICBC) in Barcelona, Advanced Nutrients ...
Cresco Labs Reports Q2 2024 Financial Results
LOS ANGELES- Cresco Labs Inc. has released its financial results for the second quarter of 2024, showcasing significant improvements in profitability and maintaining strong market positions across several states. Key highlights from the report include: Revenue: $184 million Adjusted EBITDA: $54 million, reflecting a 33% year-over-year increase Adjusted EBITDA Margin: 29%, an 880 basis point ...
Missouri Division of Cannabis Regulation Recalls Over 2,600 Products for Inadequate Testing
LOS ANGELES- The Missouri Division of Cannabis Regulation (DCR) announced a recall on Tuesday for 2,649 cannabis products sold by NGWMO, LLC to dispensary facilities. The recall was issued because the products did not undergo the required final stage testing. According to the DCR, the products, which include flower, pre-rolls, and kief sold under the ...
Aurora Cannabis Reports Q1 Fiscal 2025 Financial Results
LOS ANGELES- Aurora Cannabis has announced its financial results for the first quarter of fiscal 2025, ending June 30, 2024. The company reported positive free cash flow, increased revenue, and substantial growth in its global medical cannabis segment. Key Financial Highlights Aurora Cannabis achieved positive free cash flow of $6.5 million for the quarter. Total ...
DEA’s Proposed Rescheduling of Cannabis Sparks Public Response
LOS ANGELES- The Drug Enforcement Administration (DEA) has proposed rescheduling cannabis under federal drug law, moving it from Schedule I to Schedule III. This shift reflects changing perceptions about cannabis, which is currently classified alongside drugs deemed to have "no currently accepted medical use and a high potential for abuse," such as heroin and ecstasy. ...
Trulieve Reports Q2 2024 Financial Results
LOS ANGELES- Trulieve announced its financial results for the second quarter ending June 30, 2024. The results, reported in U.S. dollars and following U.S. Generally Accepted Accounting Principles (GAAP), reflect continued growth and operational expansion. Revenue and Sales Performance Trulieve achieved a revenue of $303 million, showing a 2% increase from the previous quarter and ...
NYC Crackdown on Illegal Cannabis Shops Shutters 3,000, Creating Opportunities for Legal Retailers
LOS ANGELES- New York City has intensified its efforts to close nearly 3,000 unlicensed cannabis dispensaries, a move that could provide a boost for legal retailers struggling with high rents and intense competition. Since the state authorized the crackdown last month, hundreds of illegal shops have been shut down, with many more voluntarily closing to ...
The Battle Over Recreational Cannabis Legalization Heats Up
LOS ANGELES- The debate around legalizing recreational cannabis continues to draw support and opposition from various societal factions. Central to this contentious issue is a push to amend state laws to allow adults aged 21 and over to legally possess and purchase cannabis. This article examines the latest developments in one state’s efforts toward this ...
Missouri Governor Signs Executive Order to Ban Intoxicating Hemp Product Sales
LOS ANGELES- Missouri Governor Mike Parson has signed an executive order banning the sale of intoxicating, hemp-derived products in the state, effective September 1. The order prohibits the sale of hemp-derived products containing delta-8 and delta-10 THC, hexahydrocannabinol (HHC), tetrahydrocannabinol (THC-O), tetrahydrocannabiphoral (THCP), and tetrahydrocannabivarin (THCV) unless sourced from an approved provider. The governor cited ...
NEWS: Ohio Dispensaries Set to Begin Recreational Cannabis Sales
CLEVELAND- Starting Tuesday, Ohioans aged 21 and over will have the opportunity to purchase recreational cannabis without needing a medical card. This marks a significant change in the state's cannabis regulations. The Ohio Department of Commerce Division of Cannabis Control is issuing its first set of dual-use Certificates of Operation (COO) to 98 dispensaries across ...
