StaffThe Daily Hit is a recap of the top financial news stories for Thursday, April 4, 2024.
On the Site
New York court nixes cannabis ad rules
In a setback for New York’s adult-use cannabis regulators, the Supreme Court of Albany County on Monday struck down several key marketing restrictions for licensed businesses. The judge also declared other cannabis provisions unlawful in his ruling.
High Times workers left in the dark after California stores close
More bad news from High Times Holding Co., with reports that the owners abruptly closed at least three of its branded dispensaries in California last month.
New Oregon cannabis licensing freeze could last ‘decades’
Oregon issued an indefinite pause on new cannabis licenses after permanently tying new issuances to population growth, and officials say it could take a long time before conditions for more are met.
Avant Brands hits German market with IM Cannabis deal
Canadian producer Avant Brands (TSX: AVNT) (OTCQX: AVTBF) and IM Cannabis Corp. (NASDAQ: IMCC), a medical cannabis company based in Israel and Germany, signed an international trademark licensing agreement that grants IMC’s German subsidiary, Adjupharm GmbH, the exclusive right to launch Avant’s flagship BLK MKT brand in the German medical cannabis market.
Petalfast buys Flow, expands Arizona cannabis reach
Cannabis sales and distribution platform Petalfast acquired the sales and distribution subsidiary of Flow Distribution, a cannabis cultivator, manufacturer, and distributor based in Phoenix.
In Other News
Hawaii adult-use cannabis
Despite growing optimism that Hawaii would launch an adult-use cannabis market this year, hopes vanished this week when House Finance Chair Kyle Yamashita declined to hold a vote on the legalization bill.
The Cannabist Co.
The Cannabist Co, Holdings (Cboe CA: CBST) (OTCQX: CBSTF) announced a partnership with Flower by Edie Parker, a leading female-founded and operated cannabis lifestyle brand.
Parabola Mgmt LLC
Rodedawg International Industries Inc. (OTC: RWGI), through its wholly owned subsidiary, Parabola Mgmt LLC, has accelerated sales of hemp and cannabis derived isolates.
