The Every day Hit is a recap of hashish enterprise information for August 2, 2022.
ON THE SITE
Cantor UpGrades Intelligent Leaves Amid Worldwide Enlargement
Intelligent Leaves (NASDAQ: CLVR) may turn out to be one of many world’s prime 5 cannabinoid exporters by the tip of this yr, in line with a brand new report by Cantor Fitzgerald analyst Pablo Zuanic. The findings come per week forward of the corporate’s second-quarter earnings launch and half a yr since CEO Andres Fajardo was tapped to steer the corporate out of a determined money burn and into new, extra worthwhile markets abroad. Learn extra right here.
TransCanna Get $16 Million Mortgage With Pelorus Fairness Group
Pelorus Fairness Group closed on a $15.8 million debt financing settlement with TransCanna Holdings Inc. The corporate stated in an announcement that the proceeds could be used to refinance and develop TransCanna’s California facility, in addition to for building prices, and the cost of curiosity on current debt. Learn extra right here.
Psychedelic Drug Stigma Is Beginning To Dissolve
As psychedelics make their method into mainstream drugs, step by cautious step, there are nonetheless troublesome questions folks (and potential sufferers) wish to have answered that quantity to a number of elephants within the room. What precisely are they? Who’s saying that they’re “drugs”, and why? Aren’t all of them nonetheless unlawful medicine that may significantly damage folks? Isn’t this “drugs” factor only a ploy to legitimize a banned leisure drug, like ecstasy (which was granted breakthrough remedy designation by the FDA)? Learn extra right here.
Germany Clears Cannabinoid Remedy For Insomnia
Zelira Therapeutics Ltd (ASX: ZLD,OTC-QB: ZLDAF), obtained formal approval from German regulatory authority BfArM to launch within the German medical hashish marketplace for its new insomnia medicine Zenivol. Zenivol is the primary clinically validated, pharmaceutical-grade, cannabis-based sleep medicine. Learn extra right here.
Lollapalooza Offers Downtown Chicago Hashish Shops A Contact Excessive
Lollapalooza delivered one other summer time pick-me-up to marijuana outlets downtown. PharmaCann and Cresco Labs (OTC: CURLF) report document gross sales at their River North shops through the four-day music pageant that ended Sunday. David Chiovetti, chief business officer of PharmaCann, which operates a retailer close to Clark and Superior streets, stated gross sales had been up “double digits over final yr. Extra folks got here in, and other people spent extra.” Learn extra right here.
IN OTHER NEWS
Cookies Co-Founder and CEO Gilbert Anthony Milam Jr., also called Berner, is featured on the August/September 2022 difficulty of Forbes. The editorial resolution to highlight the 38-year-old rapper and hashish entrepreneur by one of many world’s most revered enterprise publications represents yet one more highly effective milestone for the $72 billion hashish business. Learn extra right here.
Flora Progress Corp., Pharma Indigena Misak Manasr Sas
Flora Progress Corp. (NASDAQ: FLGC), an all-outdoor cultivator, producer and distributor of world hashish merchandise and types, introduced at this time a three way partnership settlement with Pharma Indigena Misak Manasr Sas, the most important indigenous tribe in Colombia, on the event of cultivation greatest practices, manufacturing, export, and advertising of hashish and hashish containing merchandise. Learn extra right here.
Pink White & Bloom Manufacturers Inc.
Pink White & Bloom Manufacturers Inc. (CSE: RWB and OTC: RWBYF) reported it has filed its 2021 audited monetary statements, its 2022 first quarter monetary statements and associated 2021 and 2022 first quarter Administration’s Dialogue and Evaluation and is offering sure full yr 2021 and Q1, 2022 monetary outcomes and choose subsequent occasions. Learn extra right here.
Captor Capital Corp.
Captor Capital Corp. (CSE: CPTR; FRANKFURT: NMVA; STUTTGART: NMVA), introduced at this time the discharge of its Audited Annual Monetary Statements and MD&A for the yr ended March 31, 2022. For the twelve months from April 1, 2021 to March 31, 2022 revenues from the sale of hashish on the Firm’s California dispensary community had been $32,737,461, with the Firm recording a gross revenue of $12,307,212. Revenues from hashish gross sales had been up $16,520,051 (102%) from the earlier fiscal yr, whereas gross revenue was up $7,010,238 (132%), within the face of a aggressive and difficult retail hashish surroundings. Learn extra right here.
NewLake Capital Companions, Inc.
NewLake Capital Companions, Inc. (OTCQX: NLCP), a supplier of actual property capital to state-licensed hashish operators, at this time introduced that it has added two lenders to its current five-year revolving credit score facility and upsized the mixture dedication underneath the ability from $30 million to $90 million. The credit score facility matures in Might 2027, and has a set rate of interest of 5.65% for the primary three years and a floating price thereafter. The Credit score Facility permits for additional enlargement as further lenders are added, or the commitments of current lenders are elevated. Learn extra right here.
Incannex Healthcare Restricted, Curia World, Inc.
Incannex Healthcare Restricted (Nasdaq: IXHL) (ASX: IHL), a clinical-stage pharmaceutical firm creating distinctive medicinal cannabinoid pharmaceutical merchandise and psychedelic drugs therapies for unmet medical wants, introduced that it has engaged Curia World, Inc. to additional develop and manufacture GMP-grade IHL-216A, Incannex’s proprietary inhaled drug product for the remedy of concussion and traumatic mind harm. Learn extra right here.
Hydrofarm Holdings Group, Inc.
Hydrofarm Holdings Group, Inc. (Nasdaq: HYFM), a producer and distributor of hydroponics tools and provides for managed surroundings agriculture, introduced preliminary unaudited monetary outcomes for its second quarter ended June 30, 2022. Learn extra right here.
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