The Every day Hit is a recap of the highest hashish enterprise tales for July 19, 2022.
ON THE SITE
Will Hashish Be Recession Proof?
Nobody can predict a recession, but it surely appears possible that some form of stress is anticipated on the financial system. On a optimistic notice, the large banks have all appeared to dial down the warmth on recession fears. In the course of the newest spherical of earnings right here’s what a few of them mentioned. Learn extra right here.
Excessive Tide Finds Funds In Purchased Deal
Excessive Tide Inc. (NASDAQ: HITI) (TSXV: HITI) has entered into an settlement with a syndicate of underwriters led by Echelon Wealth Companions Inc. have agreed to buy 4,310,400 items at a value of C$2.32 per Unit for complete gross proceeds of roughly C$10 million. Regardless of elevating the cash within the purchased deal, the corporate cautioned in its remarks that the general hashish panorama was turning into tougher. Learn extra right here.
CBD’s Future Completely Dependent On FDA
Hashish analysis agency Brightfield Group launched its CBD: FDA Affect and the Path Ahead/ 2022 Mid-Yr US CBD Report, which discovered that progress within the CBD business is “closely dependent” on Meals and Drug Administration (FDA) regulation, although there was little progress on federal regulation for cannabidiol (CBD) since provisions eradicating hemp and hemp derivatives from prohibition have been handed within the Farm Act of 2018. Learn extra right here.
Psychedelic Decriminalization Picks Up Steam
It looks like each different week or so, one other metropolis or state is engaged on the decriminalization of psychedelics. The truth is, the entire nation is nearly awash in legislative motion associated to reforms about psychedelics. It’s been an energetic three years, with no slowdown in sight for 2022. Learn extra right here.
IN OTHER NEWS
Cover Progress Company
Cover Progress Company (TSX: WEED) (NASDAQ: CGC) introduced yesterdaay that it has closed its beforehand introduced change transaction of sure 4.25% unsecured notes due 2023 to be able to cut back its debt obligations by roughly $263 million. Constellation Manufacturers, Inc., by its wholly owned subsidiary Greenstar Canada Funding Restricted Partnership, participated within the transaction. Learn extra right here.
Tilray Manufacturers, Inc.
Tilray Manufacturers, Inc. (Nasdaq: TLRY; TSX: TLRY), a worldwide cannabis-lifestyle and shopper packaged items firm, right this moment introduced that its medical hashish division, Tilray Medical, launched a brand new hashish training platform, WeCare-MedicalCannabis, devoted to offering sources and educating healthcare practitioners and sufferers about medical hashish. Learn extra right here.
Juva Life Inc.
Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) (FRANKFURT: 4VV), a life science firm with pharmaceutical analysis and growth and consumer-facing operations in hashish manufacturing and distribution, right this moment introduced its monetary and working outcomes for Q1 of 2022. $1.16 million of income was generated in Q1 2022, virtually double the $.58 million of income in the identical interval for the prior 12 months. Learn extra right here.
Kaya Group (OTC: NUGL), the primary medicinal Ganja herb home within the Caribbean and holistic, wellness-focused ecosystem, has now acquired its first orders for its Jamaican roots herbs model within the fast-growing California and U.S. market. California has bought $13.5 billion of adult-use hashish since launching gross sales in 2018. Learn extra right here.
springbig (NASDAQ: SBIG, SBIGW), a supplier of SaaS-based advertising and marketing options, shopper cellular app experiences and omni-channel loyalty applications to the hashish business, right this moment highlighted information recorded through the weekends of July 4 and July 10. On Independence Day, the corporate recorded an 18% improve in texts despatched and a 22% improve in complete campaigns distributed. Extra information obtained by springbig additionally highlighted a rise in total gross sales, reward redemptions and visits. Learn extra right here.
Purissima, a biotechnology well being and wellness firm, introduced right this moment an unique, multi-year processing and distribution partnership with Open Guide Extracts, a complete answer supplier for prime quality cannabinoid elements, concept-to-market formulation companies, and completed items manufacturing for the business’s main manufacturers. This collaboration additionally marks Purissima as the primary firm to attain business scale manufacturing of minor cannabinoids utilizing Purissima’s proprietary algae-based fermentation platform. Kicking off manufacturing in July 2022, the compounds are proposed to be out there to producers and bought to shopper manufacturers earlier than fall 2022. Learn extra right here.
IM Hashish Corp.
IM Hashish Corp. (CSE: IMCC) (NASDAQ: IMCC), a medical and adult-use leisure hashish firm with operations in Israel, Canada, and Germany, right this moment introduced that the corporate acquired written notification from The Nasdaq Inventory Market LLC on July 13, 2022, that the corporate isn’t in compliance with the minimal bid value requirement set forth in Nasdaq Guidelines for continued itemizing on Nasdaq. Learn extra right here.
ZYUS Life Sciences Inc.
ZYUS Life Sciences Inc., a Canadian life sciences firm main scientific analysis and growth in phyto-therapeutics, has accomplished its first worldwide cargo of ZYUS’ first-generation cannabinoid oil formulations to the Australian medical hashish market in preparation for the gross sales and distribution beneath Australia’s Therapeutic Items Act particular entry and approved prescriber scheme. Learn extra right here.
Put up Views:
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 information discovered proper right here won’t be meant as another option to or totally different from information 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.