The Daily Hit: October 30, 2024
News from: Drug Enforcement Administration, Massachusetts, Florida, Tryptamine Therapeutics and more.
The Daily Hit is a recap of the top financial news stories for Wednesday, October 30, 2024.
On the Site
DEA begins picking witnesses for December cannabis hearing
NCIA confirms it is among those approved to speak at the hearing.
Massachusetts cannabis regulators approve new industry rules
The new regulations will go into effect by Nov. 22.
New executive director named to Massachusetts Cannabis Control Commission
The CCC has been facing leadership and staff turmoil for the past year.
Florida’s medical cannabis operators split on rollout timeline if Amendment 3 succeeds
Industry insiders posit that adult-use sales could start immediately or they could take up to two years to launch.
Stakeholders fight over Colorado cannabis company’s assets after operation’s demise
Efforts by Two Rivers’ CEO to pay a settlement have run up against a roadblock.
Tryptamine Therapeutics raises A$6M to advance psychedelic pipeline
The placement is a bright spot in an otherwise quiet period for psychedelics industry financing.
In Other News
4Front Ventures
4Front Ventures Corp. announced that Peter Kampian’s contract as CFO has ended as part of the Company’s ongoing efforts to streamline its capital structure and consolidate its financial operations to Illinois. Michael Kronberg, who has been serving as controller, will assume the role of interim CFO.
Virginia Cannabis Authority
The Virginia Cannabis Control Authority chose Metrc to run its new seed-to-sale tracking program for the state’s medical cannabis industry starting in the summer of 2025.
Can B Corp.
Can B Corp. implemented a reorganization in which a new holding company, Nascent Pharma Holdings Inc., has become the publicly traded parent of Can B and its subsidiaries. The board and executive officers will continue in the same roles at Nascent Pharma Holdings Inc.
