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News from: Curaleaf, Ascend Wellness, New York, Tilray and more.
The Daily Hit is a recap of the top financial news stories for Thursday, October 10, 2024.
On the Site
Massachusetts regulators fine Ascend Wellness, Curaleaf for ignoring consumer safety practices
A government staffer said Ascend’s process failures were “so egregious as to amount to incompetent.”
New York cannabis board greenlights more licenses, including three new medical
The Office of Cannabis Management also provided an update on the implementation of policy recommendations from a scathing report earlier this year.
Tilray’s revenue falls from the fourth quarter
Tilray’s net losses improved despite the disappointment in sequential revenues.
Class action accuses kratom extract company of creating new addicts
The suit alleges the kratom company’s CFO even bragged about product’s opioid-like effects.
Lowell Farms strikes deal to manage two Los Angeles cannabis stores
The Southern California dispensaries mark Lowell Farms’ first foray into direct consumer sales.
In Other News
Grown Rogue
Vireo Growth has terminated its advisory agreement with Grown Rogue. As consideration for the early termination, Vireo will forfeit and return for cancellation 4.5 million share purchase warrants in Grown Rogue and pay Grown Rogue $800,000 in cash.
Vireo Growth
Vireo Growth’s chief executive officer and interim chief financial officer, Josh Rosen, has resigned, effective immediately, to focus on his other business ventures. Amber Shimpa will replace him as CEO, while Joe Duxbury has been named interim CFO.
Dark Horse Cannabis
Dark Horse Cannabis acquired Green Light Dispensary in West Helena, Arkansas. The store will be transitioned to operate under the Speakeasy by Dark Horse brand in October.
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