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The Daily Hit: October 7, 2024 | Where to buy Skittles Moonrock online

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News from: Eaze, Gold Flora, Revelry, Delaware and more.

The Daily Hit is a recap of the top financial news stories for Monday, October 7, 2024.

On the Site

Biggest California cannabis delivery company will close by end of year, lay off 500 employees

It’s still unclear what the company’s new owners plan to do with it after the end of the year.

Read more here.

‘Limited receiver’ appointed to settle $1.65 million of Gold Flora debt

The receiver has 59 days to settle the outstanding debt related to a lawsuit from former Left Coast Ventures directors.

Read more here.

Delaware receives more than 1,200 marijuana business license applications

More than 800 applications were received for the 30 available retail licenses, which won’t be awarded until after a lottery later this year.

Read more here.

Story Cannabis receives $41 million loan for its operations in Maryland

In addition to debt payoff, the cash injection will fund additional “growth initiatives” in the state.

Read more here.

Revelry Buyers Club buzzes with new market energy

The excitement for this new market was on display at Revelry.

Read more here.

In Other News

Skymint

An online auction for the sale of Skymint’s equipment and personal property assets will commence on Oct. 21 at 10 a.m. ET and will conclude on Oct. 25 at 4 p.m. ET. All parties desiring to participate in the auction must register as a qualified bidder on or before the auction close date.

Read more here.

Minnesota

Some 1,800 potential licensees who have qualified as social equity applicants in Minnesota are awaiting a special lottery to decide which of them will get a head-start on creating cannabis stores, manufacturing, testing facilities and growing operations. But the interim director of the Minnesota Office of Cannabis Management said late last week that the lottery will come later rather than sooner.

Read more here.

TerrAscend

TerrAscend Corp.’s Michigan entities completed the second draw of $26 million in gross proceeds of the company’s senior secured term loan for total gross proceeds of $140 million from funds managed by FocusGrowth Asset Management LP. The proceeds from the second draw were used to pay down the company’s higher interest Michigan debt.

Read more here.

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