The Every day Hit is a recap of the highest hashish enterprise tales for April 20, 2022.
ON THE SITE
RED, WHITE & BLOOM
Crimson White & Bloom Manufacturers Inc. (CSE: RWB and OTC: RWBYF) introduced a sequence of transaction and operational choices to strengthen the stability sheet and supply vital price reductions in 2022. The adjustments included promoting the Illinois property, paying down debt, lowering its headcount, and focusing by itself manufacturers. Learn extra right here.
420 A BIG HIT
One other April 20 is upon us as the vacation has turn into the one greatest day for gross sales. It doesn’t even appear to matter that the vacation falls on a Wednesday this yr. Persons are sick of the pandemic and able to get together. They might even go joints in a circle with out wiping off the top. Learn extra right here.
EMBRACING CANNABIS
The “4/20 Hashish Insights Ballot”, a nationwide ballot commissioned by Jushi Holdings, Inc. (OTC: JUSHF) surveyed 1,100 hashish and non-cannabis customers within the U.S. (ages 21 years+) and located that not solely did greater than half of hashish customers attempt hashish for the primary time within the final yr, however {that a} majority additionally imagine that hashish has an general constructive affect on society, financial development and the job market. Learn extra right here.
PSYCHEDELICS RESEARCH
Extra governments around the globe are seeing the potential of psychedelics in treating massive swaths of their inhabitants, andhave begun to anty up on the wager of higher psychological well being wellness utilizing psychedelics. Right here’s a fast take a look at what is going on not simply within the U.S., however in 4 different nations as effectively. Learn extra right here.
IN OTHER NEWS
LOWELL, ZIPPO
California hashish firm Lowell Farms Inc. and Pennsylvania-based lighter model Zippo have entered right into a non-binding letter of intent that can increase the presence of each corporations in California’s licensed hashish dispensaries. The 18-month collaboration sees Lowell Farms serving because the unique distributor of Zippo merchandise at dispensaries and retaining unique rights to the Zippos identify for all co-branded occasions and activations throughout the hashish trade. Learn extra right here.
ARCVIEW
The Arcview Group, a vertically built-in occasions and monetary providers agency serving the hashish and industrial hemp and psychedelic industries, reported continued success of its principal investing unit, Arcview Ventures LLC, with their second Funding out of the Arcview Entourage Seed Fund and its nineteenth Funding out of the Arcview Collective Fund in Nuka Enterprises LLC dba 1906. Arcview’s two highest performing investments for 2021 are Abstrax Holding Inc. and the Blinc Group, Inc. Learn extra right here.
FIRE & FLOWER, CIRCLE Ok
Hearth & Flower Holdings Corp. (TSX: FAF) (OTCQX: FFLWF) a hashish shopper retail and know-how platform introduced immediately that 2707031 Ontario Inc., an oblique wholly-ownedsubsidiary of Alimentation Couche-Tard Inc., [owner of convenience retail chain Circle-K] has confirmed its intention to train warrants (the Collection B Warrants) to amass 8,288,067common shares of Hearth & Flower pursuant to the phrases of a Second Amended and Restated Warrant Certificates. Learn extra right here.
SCOTTS MIRACLE-GRO COMPANY
The Scotts Miracle-Gro Firm (NYSE SMG), one of many world’s largest entrepreneurs of branded shopper garden and backyard merchandise, will launch its second quarter monetary outcomes on Tuesday, Could 3, 2022, previous to the opening of the U.S. monetary markets. Learn extra right here.
TREEZ
Treez (www.treez.io), the main enterprise cloud commerce platform that powers retail and provide chain operations for the hashish market, immediately introduced completion of a $51 million Collection C funding at a valuation in extra of $260 million. Learn extra right here.
ASCEND WELLNESS
Ascend Wellness Holdings, Inc. (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically built-in operator, introduced that it accomplished an fairness transaction to roll up all the different present members of Story of PA CR, LLC. Story obtained a Medical Registrant allow (“Allow”) from the Pennsylvania Division of Well being on March 1, and Story will stay the Allow holder and operator of the Allow. Learn extra right here.
WEST TOWN BANK & TRUST
West City Financial institution & Belief introduced the launch of its devoted hashish banking program. This system supplies the hashish trade with safe, handy, and fashionable monetary instruments, enabling companies to function extra effectively and cut back the dangers related to working a cash-intensive enterprise. Learn extra right here.
VENCANNA, CANNAVATIVE
Prime Strike Sources Corp. d.b.a. “Vencanna Ventures” (the “Company” or “Vencanna”) (CSE: VENI) (OTCQB: TPPRF) is happy to offer an replace in respect of the beforehand introduced enterprise mixture transaction with CannavativeGroup LLC (“Cannavative”). On March 12, 2021, the Vencannaand Cannavative introduced the execution of an unique non-binding letter of intent. Learn extra right here.
THE FLOWR CORPORATION
Flowr (TSXV: FLWR, OTC: FLWPF) has entered right into a definitive settlement to promote Holigen to Akanda for combination consideration of roughly $35 million, together with roughly $5.1 million of indebtedness being assumed by Akanda beneath the transaction, representing worth of roughly $0.08 per share. Learn extra right here.
ROUNDHILL INVESTMENTS
Roundhill Investments, an ETF sponsor centered on progressive thematic funds, immediately launched the Roundhill Hashish ETF (“WEED ETF”) on the Cboe BZX Change. The WEED ETF seeks to offer buyers with publicity to the hashish sector, together with U.S. multi-state operators (“MSOs”). Learn extra right here.
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Disclosure
The statements made regarding these merchandise haven’t been evaluated by the Meals and Drug Administration. The efficacy of these merchandise has not been confirmed by FDA-approved evaluation. These merchandises are normally not meant to diagnose, cope with, treatment, or forestall any sickness. All knowledge discovered proper right here is not going to be meant as another choice to or totally different from knowledge from well-being care practitioners. Please search the recommendation of your well-being care expert about potential interactions or totally different attainable points sooner than using any product. The Federal Meals, Drug and Magnificence Act requires this discovery.
