The Day by day Hit: June 15, 2022

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The Day by day Hit is a recap of the highest hashish enterprise tales for June 15, 2022.

ON THE SITE

Hightide’s Income Jumps 98%

After the market closed on Tuesday, Excessive Tide Inc. (NASDAQ: HITI) (TSXV: HITI) launched its monetary outcomes for the second fiscal quarter of 2022 ending April 30, 2022. Income for Excessive Tide elevated to $81.0 million versus $40.9 million in the identical quarter final 12 months. Sequentially, income elevated by 12% in comparison with the primary fiscal quarter. This represents the second-highest quarterly income determine generated by a Canadian hashish firm reporting in Canadian {dollars}. The web loss was trimmed by 33% to $8 million within the quarter versus final 12 months’s internet lack of $12 million for a similar time interval. Learn extra right here.

Massive CBD Ache Examine Delivers Constructive Outcomes

Radicle Science, an AI-driven healthtech B-corp firm reported robust optimistic outcomes from one of many largest medical trials on ache handled with cannabinoids. The research concerned over 1,600 individuals from throughout the U.S. It was a randomized and managed medical trial accomplished in partnership with Open E-book Extracts (OBX). All of the formulations within the trial led to statistically important and clinically significant enhancements in ache after simply 4 weeks—all with minimal uncomfortable side effects. Learn extra right here.

Awakn is Longing for Habit Remedy Milestones in 2022

Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) reported its monetary outcomes for the primary quarter ending April 30, 2022. Awakn recorded income of $253,154 by way of Awakn’s clinics versus zero within the prior 12 months. This represents a 23.9% or $48,834 versus the three months ended January 31, 2022. Learn extra right here.

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IN OTHER NEWS

Icanic Manufacturers Firm, Inc.

Icanic Manufacturers Firm, Inc. (CSE: ICAN, OTCQB: ICNAF), a multi-state model operator of premium hashish manufacturers in California, is happy to announce that it has modified its year-end from July 31 to December 31. For the transition 12 months, the Firm will present audited monetary statements for the 17-month interval from August 1, 2021 to December 31, 2022. The rationale for the change of year-end is to align the Firm’s year-end with the year-end of LEEF Holdings, Inc. (“LEEF”), a California primarily based extractions firm that the Firm acquired on April 20, 2022. Learn extra right here.

Chalice Manufacturers Ltd.

Chalice Manufacturers Ltd. (CSE: CHAL) (OTCQB: CHALF), a consumer-driven hashish firm specializing in retail, manufacturing, processing, wholesale, and distribution, introduced that additional to its information launch on Could 3, 2022, the submitting of its audited annual monetary statements for the fiscal 12 months ended December 31, 2021 and the associated administration’s dialogue and evaluation, as nicely on the monetary statements for the three months ended March 31, 2022 and the associated administration’s dialogue and evaluation continues to be delayed. Learn extra right here.

springbig, Tuatara Capital Acquisition Company

springbig, a number one supplier of SaaS-based advertising and marketing options, client cell app experiences, and omnichannel loyalty packages to the hashish business, and Tuatara Capital Acquisition Company at this time introduced that they’ve accomplished their beforehand introduced enterprise mixture. The Enterprise Mixture was accredited at a particular basic assembly of TCAC shareholders on June 9, 2022. Learn extra right here.

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Physique and Thoughts Inc.

Physique and Thoughts Inc. (CSE: BAMM) (OTCQB: BMMJ), a multi-state US hashish operator, is happy to supply an replace on the extension and amendments to its mortgage settlement entered into between the corporate, DEP Nevada, Inc., a completely owned subsidiary of the corporate, the guarantors as set forth within the Mortgage Settlement, FG Company Lending LLC and Bomind Holdings LLC, dated July 19, 2021, as amended on November 30, 2021. The Firm has entered right into a second modification to the Mortgage Settlement to increase the maturity date by one 12 months to July 19, 2026. Learn extra right here.

Entourage Well being Corp.

Entourage Well being Corp. (TSX-V:ENTG) (OTCQX:ETRGF) (FSE:4WE), a Canadian producer and distributor of hashish merchandise, is happy to announce that shareholders overwhelmingly accredited all proposed resolutions at its annual basic and particular assembly of shareholders held just about in Toronto, Ontario on June 10, 2022. Learn extra right here.

AFC Gamma, Inc.

AFC Gamma, Inc. (NASDAQ:AFCG) at this time introduced its dividend for the quarter ending June 30, 2022.The Board of Administrators of AFC Gamma declared a quarterly dividend of $0.56 for the quarter ending June 30, 2022, per excellent share of frequent inventory, payable on July 15, 2022 to the frequent stockholders of report on June 30, 2022. The June quarterly dividend represents the fourth consecutive enhance of AFC Gamma’s quarterly dividend and a 47.4% year-over-year dividend enhance. Learn extra right here.

HEXO Corp.

HEXO Corp. (TSX: HEXO; NASDAQ: HEXO) is happy to announce that at its particular assembly of shareholders held yesterday, holders of frequent shares of HEXO overwhelmingly accredited the beforehand introduced fairness buy settlement with 2692106 Ontario Inc. and KAOS Capital Ltd. A complete of 73,880,016 Frequent Shares (roughly 16.12% of the issued and excellent Frequent Shares) had been represented on the Assembly in individual by digital attendance or by proxy. Learn extra right here.

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NewLake Capital Companions, Inc.

NewLake Capital Companions, Inc. (OTCQX: NLCP), a number one supplier of actual property capital to state-licensed hashish operators, at this time introduced that its board of administrators has declared a second quarter 2022 money dividend of $0.35 per share of frequent inventory. The dividend is equal to an annualized dividend of $1.40 per frequent share, and is the Firm’s fifth consecutive quarterly dividend enhance. The dividends are payable on July 15, 2022, to stockholders of report on the shut of enterprise on June 30, 2022. 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 option to or completely different from knowledge from well-being care practitioners. Please search the recommendation of your well-being care expert about potential interactions or completely different attainable points sooner than using any product. The Federal Meals, Drug and Magnificence Act requires this discovery.