Author: admin
Following the deal’s close, the number of shares will be consolidated down from about 260 million to 26 million.Canada-based Ayurcann Holdings Corp. (CSE: AYUR) (OTCQB: AYURF) is set to merge with special purpose acquisition company Arogo Capital Acquisition Corp. (NASDAQ: AOGO) in a deal that will make a combined entity worth $210 million, the pair announced Thursday. Ayurcann, a cannabis extraction-focused company with a top-selling vape and pre-roll brand, pointed to its year-over-year revenue growth as one reason for its attractiveness to Arogo. Still, the company has struggled to attain profitability, likely one reason for the merger, which should give…
The cannabis cash crunch might be separating the winners the from losers, turning it into a green rush only for the financially fit. New analysis by cannabis industry research firm Viridian Capital Advisors suggests that financial strength is closely tied to stock performance in the U.S. marijuana sector this year, as opposed to the hopes and dreams of a brighter future for the companies tomorrow that’s been seen in the past. The study, released as part of Viridian’s Chart of the Week series, looked at 30 companies – including multistate and single-state operators – in the cannabis industry. The list…
Psychedelic drug company Lykos Therapeutics wasn’t too happy with the Final Evidence Report issued by the Institute for Clinical and Economic Review (ICER) on its Midomafetamine (MDMA) Assisted Psychotherapy for Post-Traumatic Stress Disorder (PTSD). Lykos Therapeutics said it was disappointed in the contents and the overall findings of the report, while still asserting that it was encouraged that ICER found MDMA could be a cost-effective treatment for PTSD. Lykos said in a statement, “However, like the interim report before it, the final report unfortunately goes beyond ICER’s traditional scope. It cites trial design concerns that, while important, have been and…
News from: Parallel, Ayurcann, Virginia, Alabama, and more.The Daily Hit is a recap of the top financial news stories for Thursday, June 27, 2024. On the Site Parallel settles New York lawsuit, but more litigation still looms The drawn-out process that ultimately led to the settlement was criticized by a Manhattan judge. Read more here. Ayurcann to merge with Arogo Capital Acquisition Corp. Following the deal’s close, the number of shares will be consolidated down from about 260 million to 26 million. Read more here. Virginia delays medical license decision for Shenandoah region The CCA has not provided a new…
If New York cannabis applicants are wondering why the licensing process is slow, they just need to look at the number of lawsuits facing the state’s Office of Cannabis Management. At the recent New York Cannabis Law Conference, Rudick Law Group lawyers Fatima Afia and Lauren Rudick counted at least 20 cases involving the oversight board. And that doesn’t include any cases involving the hemp program, medical program, or that were brought to small claims court or against other third-party actors. That many cases can certainly distract from daily operations, so it’s no surprise that the OCM is behind on…
What are Thrips? A thrip is a winged insect that measures between 1 and 2 mm, though it can grow up to 6 mm. It belongs to the Thysanoptera family, which comprises around 5600 different species, with the most common found on cannabis plants. Frankliniella occidentalis, the most common thrip, first appeared in Almeria in 1986 from California and settled in various crops such as tomatoes. The second most common species in Spain is Thrips tabaci, which is also known as the onion thrip. Thrips and Cannabis Thrips won’t spoil your whole crop like other pests like budworm caterpillars, or…
Pushback on cannabis rescheduling, while expected, has begun in full force. A Republican-controlled congressional committee this week unveiled a key spending bill that would block rescheduling and modify longstanding protections for state medical cannabis programs. The provisions were part of the 2025 appropriations bill for Commerce, Justice, Science, and Related Agencies, which made it out of a subcommittee markup, according to a Wednesday news release. It would prohibit the Department of Justice from using funds to reschedule or deschedule marijuana under the Controlled Substances Act. The latest set of provisions hints at ongoing disagreements in Congress about cannabis policy. The…
News from: High Times, Minnesota, Rep. Blumenauer, Organigram, and more.The Daily Hit is a recap of the top financial news stories for Tuesday, June 25, 2024. On the Site ExWorks terminates receiver agreement for High Times properties Kevin Singer is no longer the receiver for the High Times properties. Read more here. Minnesota cannabis social equity program draws 700 applicants in 24 hours The initial filing of paperwork is just the first of several steps, with the window for full licensure opening July 24. Read more here. Oregon’s Representative Earl Blumenauer is more positive about Rescheduling than the Farm Bill…
Selecting the right cannabis seeds Choosing the right cannabis seeds is key to obtaining those amazing aromas and flavors. Although the cannabis plant is known for having a generally complex and intense aromatic profile, strains like Gorilla Glue or Lemon King are particularly aromatic due to their incredibly high terpene production. Growing conditions for improving the yield and preserving the aroma and flavor of your cannabis plants Terpenes are the molecules responsible for the aroma and flavor of cannabis. These compounds are found in the resin of the buds and can fluctuate in quantity depending on the environmental conditions of…
$3 billion – MedMen valuation in 2018 Once upon a time, MedMen Enterprises was a unicorn in the cannabis industry. In October 2018, it was riding high with a $3 billion market cap and grand expansion plans. Now, the company has an “estimated realizable value” of $1, according to documents from the trustee overseeing its bankruptcy case in Canada. Source: Company filings, B. Riley Farber, and Green Market Report analysis