StaffThe Daily Hit is a recap of the top financial news stories for Tuesday, May 28, 2024.
On the Site
Top New York cannabis regulator resigns following rift with governor
The OCM executive director was supposed to remain on the job until Sept. 1, and it’s not clear now who will lead the agency going forward.
New Hampshire Senate approves recreational cannabis, but big hurdles remain
A key difference between the state Senate and House versions is who will own and operate the stores: government or private operators.
Weedmaps revenues fall as industry faces tightened marketing budgets
Weedmaps saw some metrics improve as it cut its non-paying clients.
Ayurcann losses contract on growing revenue in fiscal Q3
Though profitability continues to elude Ayurcann, the company made significant year-over-year progress.
Entourage Health sees revenues rise despite financial pressure
Entourage Health remains in breach of some financial covenants and is a going concern.
In Other News
Cronos Group
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) terminated its agreement with Future Farmco Canada Inc. for the sale and leaseback of its property located in Stayner, Ontario. Future Farmco failed to satisfy or waive its due diligence and financing condition by its May 27 deadline.
Innocann Pharma
Israel and Canada-based Innocan Pharma Corp. (CSE: INNO) (OTC: INNPF) reported first-quarter revenue of $6.8 million, compared to $1.6 million in the first quarter of 2023.
