StaffThe Daily Hit is a recap of the top financial news stories for Thursday, August 1, 2024.
On the Site
Missouri governor bans sale of hemp-derived intoxicants
State officials cited a 600% increase in cannabis poisoning cases among children under 5 since 2018 as a key factor.
Jushi Holdings secures $48.5 million refinancing
Jushi used some cash reserves to to cover the difference between the new and old loan.
Vireo Growth extends credit line with Chicago Atlantic
Chicago Atlantic also plans to voluntarily convert about $10.5 million in outstanding convertible notes.
Greenlane to implement 1-for-11 reverse stock split
The move will reduce Greenlane’s outstanding shares from approximately 5.8 million to about 500,000.
Earnings:
- StateHouse sees mixed results, cites margin gains amid challenges
- Turning Point Brands raises guidance for 2024
In Other News
Issaquah Cannabis Co.
A Puget Sound-area dispensary is suing Greenleaf HR LLC, a payroll provider specializing in the cannabis industry, and another firm, claiming they failed to pay the IRS on its behalf resulting in a nearly $172,500 tax bill, according to a lawsuit removed to Washington federal court.
Oregon
The Oregon Secretary of State’s office on Thursday confirmed that a proposed measure that would block cannabis retailers and processors from opposing employee unions has enough signatures to officially become Ballot Measure 119.
AYR Wellness
The executive chairman of AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF), Jonathan Sandelman, resigned from his role in the company. The board of directors determined that Louis Karger is now the chairman of the board.
