The Each day Hit: June 23, 2022

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The Each day Hit is a recap of the highest hashish enterprise tales for June 23, 2022.

ON THE SITE

IGC Makes Progress on THC for Alzheimer’s

India Globalization Capital, Inc. (IGC) (NYSE: IGC) publicizes its monetary outcomes for the fiscal 12 months ending March 31, 2022. IGC reported that its income was roughly $397 thousand and $898 thousand for Fiscal 2022 and Fiscal 2021, respectively. The web loss for Fiscal 2022 for IGC was roughly $15 million or $0.30 per share, in comparison with roughly $8.8 million or $0.21 per share for Fiscal 2021. Adjusting for roughly $5.3 million in one-time and non-cash bills, the web loss is roughly $9.7 million in Fiscal 2022. Learn extra right here.

Promoting the Psuedo-Psychedelic Sizzle

Say you need a fast microdose of an uplifting substance this morning and determine to show to certainly one of a handful of corporations promising a “magic” expertise with their mushroom concoctions—reminiscent of Mudwtr. A bit of psilocybin buzz ought to do the trick, proper? Oops… higher look nearer. Learn extra right here.

Government Highlight: Dave Choulpek

Juva Life (OTC: JUVAF) is a life sciences analysis firm with an immense background in hashish, permitting the corporate to domesticate and to derive small molecule compounds that concentrate on irritation within the human physique. At present Juva Life is working with Juva-019 and Juva-041, that are non-cannabinoid molecules discovered to be naturally occurring within the hashish plant. Juva Life’s belongings embrace one micro enterprise, one hashish cultivation facility and two hashish supply corporations in California. Learn extra right here.

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IN OTHER NEWS

Khiron Life Sciences Corp.

Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQX: KHRNF) (Frankfurt: A2JMZC), a world medical hashish firm all through Latin America and Europe, introduced the outcomes of its 2022 Annual Basic and Particular Assembly of shareholders held on June 23, 2022. Learn extra right here.

Auxly Hashish Group Inc.

Auxly Hashish Group Inc. (TSX: XLY), a client packaged items firm within the hashish merchandise market, introduced that it has amended and restated the unsecured convertible debentures within the capital of the corporate issued beneath its standby facility with an institutional investor, which was beforehand introduced on April 28, 2020. Learn extra right here.

Nabis Hashish, Teamsters Native 630

Drivers and fleet upkeep employees at Nabis Hashish have voted overwhelmingly to ratify their first contract with Teamsters Native 630. It’s the first collective bargaining settlement on the rapidly-growing hashish distribution firm. “I’m extremely happy with the tenacity and braveness that was demonstrated by this body of workers,” stated Lou Villalvazo, Native 630 Secretary-Treasurer. “What they’ve performed at this firm can function a mannequin for profitable organizing and bargaining all through the California hashish trade transferring ahead.” Learn extra right here.

Merchandise 9 Labs Corp.

Merchandise 9 Labs Corp. (OTCQX: INLB) — a vertically built-in hashish dispensary franchisor and operator introduced right now that its new 20,000 square-foot, state-of-the-art cultivation and lab facility in Pahrump, N.V. is nearing completion and anticipated to be totally operational by finish of 2022. Learn extra right here.

CannTrust Holdings Inc.

CannTrust Holdings Inc. (unlisted), minority investor in Phoena Holdings Inc. (previously CannTrust Fairness Inc.) right now introduced that it’s in search of an order from the Ontario Superior Courtroom of Justice extending the time for the corporate to name the following annual assembly of its shareholders. The corporate additionally supplied an replace regarding its board of administrators’ evaluate of strategic alternate options. Learn extra right here.

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CryoMass Applied sciences Inc.

CryoMass Applied sciences Inc. (OTCQX: CRYM) introduced that CryoMass begins buying and selling right now on OTCQX beneath the image “CRYM.” Christian Noël, CryoMass CEO, acknowledged, “We’re happy to achieve this necessary milestone, as OTCQX is the best tier of the OTC markets. Of greater than 12,000 securities traded on the OTC Markets, solely 644 (as of Could 31, 2022) have met the necessities for buying and selling on the OTCQX® Greatest Market. The improve to the OTCQX will enhance CryoMass’s accessibility to U.S. buyers and can enable our shareholders to commerce extra successfully. This additionally displays our continued dedication to accountable company governance.” Learn extra right here.

Akanda Corp.

Involved shareholders of Akanda Corp. have right now changed a majority of the board of administrators of the Company, with highly-qualified and motivated administrators. The involved shareholders of the company collectively personal or management 16,556,779 frequent shares of the company (representing roughly 54.1% of the issued and excellent frequent shares of Akanda), and yesterday handed a written decision of the shareholders of the company pursuant to the provisions of the Enterprise Companies Act (Ontario) eradicating every of Louisa Mojela, Philip van den Berg, Charles Kié, Gila Jones, Gugu Dingaan and Bridget Baker as administrators of the Company efficient instantly. 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.

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