The Each day Hit: August 11, 2022

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The Each day Hit is a recap of hashish enterprise information for August 11, 2022.

ON THE SITE

Hashish Consumption on Observe to Beat Alcohol

As talks revolving across the federal legalization of hashish splinter in Congress, the query of whether or not hashish can eat beverage alcohol’s margins stays a rising one. In a report, titled, “Is Hashish a Menace to Alcohol Gross sales?” BDSA Client Insights contends that whereas the crop is as well-liked as ever, any actual breakthrough of shopper participation in adult-use and medical markets stays stymied in D.C. – casualties of political animosity and procedural acrobatics aimed toward slowing progress. Learn extra right here.

Akerna Misses on Income, Bookings Down

Akerna Corp. (Nasdaq: KERN) posted lower than constructive outcomes because it missed expectations — displaying that blended demand and weaker gross sales are rippling by way of the sector. The hashish tech agency launched its second-quarter monetary report card ending June 30, 2022. Learn extra right here.

Aleafia Watches Revenues Rise in Canada, Seems to be Throughout the Pond

Aleafia Well being Inc. (OTCQX: ALEAF) delivered constructive outcomes on Thursday because it continues to chop prices and discover extra revenue within the Canadian authorized market and abroad. The Canadian hashish firm reported its monetary outcomes for the three months ending June 30, 2021. Aleafia Well being releases its monetary report card on a 15-month fiscal yr with 5 quarters versus an ordinary 12-month yr with 4 quarters. Learn extra right here.

Goodness Development Beats on Income, Sees Gross sales in Rising States

Goodness Development Holdings, Inc. (CSE: GDNS) (OTCQX: GDNSF) posted constructive outcomes on Thursday — pushed by new retail retailer gross sales and new regulatory adjustments in nascent state markets. The multi-state hashish firm reported monetary outcomes for its second quarter ended June 30, 2022. Learn extra right here.

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Why Psychedelic Hashish is a Factor Now

The thought of a hashish product making a kind of psychedelic expertise just isn’t a brand new one. There was a prevailing, fictional description again within the early a part of the final century—inspired by the 1936 movie “Reefer Insanity”—the place folks feared that was what all hashish did. It freaked you out. Precipitated you to do unspeakable issues. Run amok. Destroy property. Learn extra right here.

IN OTHER NEWS

Leafly Holdings, Inc.

Leafly Holdings, Inc. (NASDAQ: LFLY), an internet hashish discovery market and useful resource for hashish shoppers, immediately introduced monetary outcomes for its second quarter ended June 30, 2022. “Income within the quarter was $12.1 million, up 13.8% over Q2 final yr, and up 5.5% over Q1 as we proceed to construct on the investments we’ve made within the first half of this yr.” Learn extra right here.

Intelligent Leaves Holdings Inc.

Intelligent Leaves Holdings Inc. (Nasdaq: CLVR, CLVRW), a multinational operator and licensed producer of pharmaceutical-grade cannabinoids, is reporting monetary and working outcomes for the second quarter ended June 30, 2022. All monetary info is supplied in US {dollars} except in any other case indicated. Learn extra right here.

Forian Inc.

Forian Inc. (Nasdaq: FORA), a supplier of expertise, analytics and knowledge science pushed options for the healthcare and hashish industries, immediately introduced outcomes for the quarter ended June 30, 2022. Learn extra right here.

Schwazze

Schwazze, (OTCQX: SHWZ) (NEO: SHWZ), immediately introduced monetary outcomes for the second quarter ended June 30, 2022. Revenues of $44.3 million elevated 44% in comparison with $30.7 million in second quarter ended June 30, 2021. Learn extra right here.

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CEA Industries Inc.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) an organization in managed setting agriculture (CEA) programs engineering and applied sciences, is reporting outcomes for the three months ended June 30, 2022. Learn extra right here.

Agra Ventures Ltd.

Agra Ventures Ltd. (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF), a growth-oriented and diversified firm centered on the worldwide hashish business, introduced that its Board of Administrators has accepted the Firm’s issuance of 240,420 widespread shares at a deemed worth of roughly $0.12 per Share as fee of the portion of the quarterly quantity of curiosity due in Shares on a mortgage entered into in December of 2020. Learn extra right here.

Ayr Wellness Inc.

Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF), a vertically built-in U.S. multi-state hashish operator, introduced that the Massachusetts Hashish Management Fee (CCC) has granted a closing license for adult-use hashish at its Sira Naturals dispensary in Somerville. The corporate additionally acquired approval to open the primary part of its cultivation growth in Milford, Massachusetts. The CCC voted to approve each measures throughout its assembly on August 11, 2022. Learn extra right here.

Cookies

Cookies immediately introduced its in Florida’s medical hashish market with the opening of Cookies Miami, the model’s 52nd dispensary, in a location handy to the airport and downtown. The brand new 3,100 square-foot location will host a novel menu that includes Cookies’ extremely sought-after genetics and customized Cookies SF native reserve merchandise. Learn extra right here.

Christina Lake Hashish Corp.

Christina Lake Hashish Corp. (CSE: CLC) recapped its second quarter monetary outcomes for the six-month interval ended Might 31, 2022. All quantities are expressed in Canadian {dollars} except in any other case famous. Learn extra right here.

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Allied Corp.

Allied Corp. (OTCQB: ALID), as part of the beforehand introduced export approval of 7100kgs of Colombia-grown hashish, Allied has immediately shipped 1728kgs to Switzerland. This will probably be adopted by 1500kgs weekly till the 7100kg threshold is met. Learn extra right here.

Pyxus Worldwide, Inc.

Pyxus Worldwide, Inc. (OTC Pink: PYYX), a world value-added agricultural firm, immediately introduced outcomes for its fiscal quarter ended June 30, 2022. Learn extra right here.

Reunion Neuroscience Inc.

Reunion Neuroscience Inc., (previously, Area Journey Well being Ltd.) (TSX: FTRP, Nasdaq: FTRP) and Area Journey Well being & Wellness Ltd. introduced the closing of the plan of association spinout transaction, together with the company reorganization effected thereby, efficient August 11, 2022. Pursuant to the association, holders of widespread shares of the corporate exchanged their firm shares for one new widespread share of the corporate and acquired 0.85983356 of a Area Journey H&W widespread share. 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 won’t 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.