StaffThe Daily Hit is a recap of the top financial news stories for Tuesday, October 29, 2024.
On the Site
New York judge rules city’s cannabis crackdown unconstitutional
The ruling only directly affects one business forced to close under the crackdown, but it will almost certainly lead to additional lawsuits, the company’s attorney predicted.
Hundreds of New York social equity licenses set to expire in coming months
In the two years since CAURD permits were issued, licensees have struggled to find locations, raise money and open shop.
Kentucky selects first 26 medical cannabis producers
The winning companies have 15 days to pay license fees to receive final authorization.
Arizona dispensaries to launch adult-use marijuana home delivery on Friday
Statewide cannabis sales have been sluggish of late, with August reporting the lowest sales totals to date.
MJLink’s motion to dismiss $1.7M fraud suit largely rejected
The judge gave extensive rationale for allowing most claims to proceed, while dismissing others on technical grounds.
In Other News
Bud & Mary’s Cannabis
The Greater Des Moines Partnership recently celebrated the winners of the 2024 Economic Impact Awards, which included Bud & Mary’s Cannabis, Iowa’s first medical cannabis manufacturer and dispensary.
Queen City Cannabis
A cannabis operator in Ohio is targeting residents of Kentucky, despite the fact that those residents won’t be able to take the product home legally. Several residents in Northern Kentucky reported receiving fliers from Queen City Cannabis in the mail this week.
Vencanna Ventures
The Alberta Securities Commission issued a cease trade order (“CTO”) against Vencanna Ventures on Oct. 25 for failure to file audited annual financial statements for the year ended April 30 and interim financial report for the period ended July 31.
