StaffThe Daily Hit is a recap of the top financial news stories for Tuesday, July 16, 2024.
On the Site
Delta 9 Cannabis files for bankruptcy, cites SNDL actions as one reason
Delta 9 did a deal with FIKA to buy parts of the company and buy the debt recently purchased by SNDL.
L.A. social equity companies lobby city for aid in face of extinction
At this point, nothing is easy, and nothing is certain when it comes to L.A. social equity companies’ survival.
Colorado cannabis sales continue on downward spiral in May
To find a worse month of May for Colorado’s cannabis industry, one would have to wind the clock back to 2016.
June Michigan marijuana sales flat sequentially, up slightly year-over-year
Medical cannabis sales dropped 78.4% year-over-year, while recreational sales are up 9.1%.
Avant Brands touts sales growth overseas, plans $3.9M offering
International sales eclipsed Canadian adult-use during the quarter.
In Other News
Mira Pharmaceuticals
MIRA Pharmaceuticals reported promising findings from preclinical studies of its novel oral pharmaceutical marijuana analog, MIRA-55, which is being studied as a potential treatment for anxiety and cognitive decline. The data compared MIRA-55 directly to THC, the main psychoactive component in marijuana.
Sticky Cards, Flowhub
Sticky Cards and Flowhub are collaborating to marry Flowhub’s POS system with Sticky Cards app and SMS free loyalty solution.
Nova Cannabis
Nova Cannabis Inc. announced that CEO Marcie Kiziak will be stepping down, effective Aug. 1. She will continue to serve as a director of Nova until second quarter 2024 financial results are announced. This decision comes in connection with the restructuring announced by SNDL Inc. earlier today.
