StaffThe Daily Hit is a recap of the top financial news stories for Thursday, June 27, 2024.
On the Site
Parallel settles New York lawsuit, but more litigation still looms
The drawn-out process that ultimately led to the settlement was criticized by a Manhattan judge.
Ayurcann to merge with Arogo Capital Acquisition Corp.
Following the deal’s close, the number of shares will be consolidated down from about 260 million to 26 million.
Virginia delays medical license decision for Shenandoah region
The CCA has not provided a new timeline for the decision.
Alabama’s medical marijuana program mired in more delays
The program has languished in litigation limbo for some time now.
Delaware moves a step closer to recreational marijuana sales
Activists pushed back against the bill, calling it a “corporate giveaway.”
Michigan bans coconut oil in cannabis vapes
Growing evidence suggests the oil may pose health risks when vaporized or aerosolized into the lungs.
In Other News
AFC Gamma
AFC Gamma’s previously announced spin-off of its commercial real estate portfolio is expected to be completed on July 9. The portfolio will spin-off into a new independent, publicly-traded REIT, Sunrise Realty Trust,.
4Front Ventures Corp.
4Front Ventures Corp. entered into an agreement with Eight Capital as lead agent and sole bookrunner to act as agents on a “best efforts” basis to sell up to 47.62 million units of the company at a price of C$0.105 per unit for gross proceeds of up to C$5,000,100.
cbdMD
cbdMD announced the publication of the company’s human clinical trial data demonstrating the benefits of its proprietary broad spectrum CBD blend. The data was published in the Journal of the International Society of Sports Nutrition.
