StaffThe Daily Hit is a recap of the top financial news stories for Wednesday, May 22, 2024.
On the Site
Cannabis companies square off in federal court with DOJ over marijuana prohibition
The initial hearing was focused on a motion to dismiss filed by the Department of Justice.
Veterans Affairs preps for potential FDA-approval of MDMA
A planning document focused on preparing to quickly deploy psychedelics for treating PTSD has reportedly been circulated in the VA.
Report: Americans don’t want cannabis industry rules written by Big Pharma, Tobacco, Alcohol
The analysis, which came from a survey of 404 adults in the U.S., also found that Americans don’t trust the government to do it either.
Glass House looks to Canada for potential funding, files shelf prospectus to sell shares
The filing gives the firm a quick path to raise capital from equity offerings.
Agrify converts $13.8M debt to equity to regain Nasdaq compliance
The company says its shareholders’ equity now exceeds the $2.5 million minimum under Nasdaq’s listing code.
In Other News
The Hempshire Group
The Hempshire Group Inc. (TSXV: HMPG) closed on debt settlement and forbearance arrangements in respect of the C$821,520 principal amount and accrued interest outstanding pursuant to the 12% secured, non-convertible promissory notes issued on April 27, 2023, which matured on April 26, 2024.
Mississippi Green Oil LLC
A pair of would-be investors in a purported medical marijuana company have sued the enterprise and two of its representatives, claiming repayment of their $200,000 investment was over five months overdue.
