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News from: Starbuds Flowers, Canopy Growth Corp., Kentucky and more.
The Daily Hit is a recap of the top financial news stories for Thursday, October 17, 2024.
On the Site
Starbuds busted for Starbucks copycat logo
Starbuds has to quit using the name and logo and destroy all products containing the images.
Kentucky approves medical cannabis framework for 2025 launch
The cultivator and processor lottery is scheduled for Oct. 28, with a dispensary permit lottery expected to follow next month.
Canopy Growth pays down $100M in debt, extends loan maturity
The move expected to save about $14 million annually in interest expenses.
Illinois cannabis revenue drops for the first time
Falling prices, steep competition contributed to the revenue decrease.
City View Green seeks C$1M after Alberta retail exit
The fundraising comes as the company shifts its focus to edibles production.
In Other News
MediPharm Labs
MediPharm Labs Corp. President and Co-Founder Keith Strachan will step down from his management position effective Dec. 31. He will continue to provide strategic support and guidance to the company by joining the Board of Directors effective Jan. 1, 2025.
SNDL
Nova Cannabis shareholders voted in favor of the proposed plan of arrangement, under which SNDL will acquire all of the Nova shares (other than those held by SNDL or its affiliates) in exchange for either C$1.75 in cash or 0.58 of an SNDL share.
Alabama
The Alabama medical marijuana licensing process is still on hold as challenges work their way through courts. But at a hearing on Wednesday, Alabama Specialty and the four other integrated license winners went on the record that they will participate in that licensing investigation in an effort to speed up the process.
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