The Every day Hit is a recap of hashish enterprise information for August 8, 2022.
ON THE SITE
Analyst Thinks Weedmaps Ought to Spill The T
Cantor Fitzgerald analyst Pablo Zuanic thinks Weedmaps or WM Know-how Inc. (NASDAQ MAPS) may use just a little extra disclosure relating to speaking about its statistics. Whereas the analyst maintains his Obese score on the hashish platform firm, he additionally lowered his goal worth from $11.30 to $10.50. The inventory was recently buying and selling at $3.43 and the corporate stories its earnings on Tuesday after the market closes. Learn extra right here.
Agrify Anticipated To Miss Income As Hydroponics Falter
Agrify Company (Nasdaq: AGFY) will postpone its earnings name for a further week as preliminary second-quarter outcomes present that it missed expectations throughout a time when shopper demand for hydroponics is fading. The corporate introduced the unaudited outcomes for the second quarter ending June 30, 2022. Learn extra right here.
GRN Holdings To Turn into Marijuana, Inc. In Main Restructure
GRN Holdings Company, Inc. (OTC Pink: GRNF) will change into often called Marijuana Inc. any further, pending approval. The corporate additionally introduced new modifications in administration and its enterprise mannequin in addition to a company restructuring. Learn extra right here.
Brittney Griner Case Brightens Highlight On U.S. Decriminalization Efforts
Decriminalization of psychedelics continues to achieve momentum within the U.S. It seems to be mirroring hashish in how it’s spreading, which continues to be a federally unlawful substance now authorized in 19 states plus the District of Columbia. Learn extra right here.
Cover Development Sees Large Loss Pushed By Money Burn
Cover Development Company (TSX: WEED) (NASDAQ: CGC) slid in early buying and selling on Friday after the corporate mentioned it misplaced over C$2 billion within the second quarter– as falling margins and weak gross sales proceed to plague the trade. The corporate introduced its monetary outcomes for the primary quarter ending June 30, 2022. Learn extra right here.
Well being Canada Report Paves Authorized Pathway For CBD
Well being Canada not too long ago printed a long-awaited report that consultants say supplies a regulatory pathway to increase the nation’s cannabidiol (CBD) market. CBD — Delta-9 THC’s chemical cousin — is a hemp-derived ingredient that may be transformed into merchandise with quite a lot of sorts and codecs reminiscent of oils, gummies, capsules or topicals. Learn extra right here.
Planet 13 Might Purchase Out Its Social Fairness Associate In Illinois
The Nevada-based hashish superstore Planet 13 Holdings (OTC: PLNHF) introduced that it has signed an choice to probably purchase out its social fairness associate in Illinois. The corporate mentioned it has reached a take care of Frank Cowan, who owns 51% of Planet13 Illinois, to achieve a controlling curiosity. Learn extra right here.
IN OTHER NEWS
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. (CSE: CURA /OTCQX: CURLF), a worldwide supplier of shopper hashish merchandise, has introduced three new hires becoming a member of the corporate’s government management staff this month. Ed Kremer will be part of as Chief Monetary Officer, Camilo Lyon was named Chief Funding Officer, and Mitch Hara shall be Chief Technique Officer, a brand new position on the firm. Mr. Kremer and Mr. Lyon will start August 8 and Mr. Hara joined efficient August 3. Learn extra right here.
Acreage Holdings, Inc
Acreage Holdings, Inc. (CSE: ACRG.A.U, ACRG.B.U) (OTCQX: ACRHF, ACRDF), a vertically built-in, multi-state operator of hashish cultivation and retailing services within the U.S., at this time reported its monetary outcomes for the second quarter ended June 30, 2022. Learn extra right here.
MariMed, Inc.
MariMed, Inc. (CSE: MRMD) (OTCQX: MRMD), a number one multi-state hashish operator targeted on bettering lives each day, at this time introduced its monetary outcomes for the second quarter ended June 30, 2022. Learn extra right here. Learn extra right here.
Jushi Holdings Inc.
Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF), a vertically built-in, multi-state hashish operator, introduced that it entered right into a confidential settlement settlement with Curaleaf Holdings, Inc. and with Jushi’s former Chief Monetary Officer, Edward Kremer, to resolve claims Jushi asserted in a lawsuit filed on July 15, 2022, together with a declare asserted towards Mr. Kremer for breach of his employment settlement and a declare asserted towards Curaleaf for tortious interference. Learn extra right here.
Icanic Manufacturers Firm Inc.
Icanic Manufacturers Firm Inc. (CSE: ICAN)(OTCQB: ICNAF), a multi-state model operator of hashish manufacturers in California, publicizes that, on the assembly of Secured Debentureholders held on August 8, 2022, the secured debentureholders voted overwhelmingly in assist of the beforehand introduced recapitalization transaction to be applied by means of a court-approved plan of association underneath the British Columbia Enterprise Firms Act. For extra particulars concerning the Recapitalization Transaction, please see the Firm’s information releases dated June 8 and July 13, 2022. Learn extra right here.
Himalaya Applied sciences, Inc.
Himalaya Applied sciences, Inc. (OTC: HMLA) is offering a shareholder replace on its working actions, minority investments, and progress plans. The corporate was introduced SEC present in April 2022 after a number of Type 10 amendments handed regulatory evaluate and is now PCAOB totally audited. Learn extra right here.
Irwin Naturals Inc., Invictus Clinics, LLC
Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) accomplished the acquisition of two ketamine clinics in Georgia by way of an asset buy of Invictus Clinics, LLC, which shall be introduced into the fast-growing nationwide chain of psychedelic mental-health services. Learn extra right here.
YourWay Hashish Manufacturers Inc.
YourWay Hashish Manufacturers Inc. (CSE: YOUR) (OTC: YOURF) (FSE: HOB) held its annual common and particular assembly of shareholders of the corporate at this time. The Assembly was terminated previous to any enterprise being carried out as the corporate’s audited annual monetary statements for the yr ended December 31, 2021 and the associated administration’s dialogue and evaluation in addition to the corporate’s unaudited interim monetary statements for the three months ended March 31, 2022 and the associated administration’s dialogue and evaluation haven’t but been finalized. Learn extra right here.
GreenGrowth CPAs
GreenGrowth CPAs held a month-long survey in the summertime of 2022 asking operators a collection of questions concerning the impacts of inflation on their hashish operation. And in keeping with their findings, 1 in 4 operators reported planning to boost costs within the close to or speedy future to fight rising inflation prices. Out of the respondents who participated within the survey, greater than 50% consider the hashish enterprise atmosphere has declined within the final 12 months. 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, take care of, treatment, or forestall any sickness. All information discovered proper right here is not going to be meant as another choice to or completely different from information 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.
