The Daily Hit: November 25, 2024
The Daily Hit is a recap of the top financial news stories for Monday, November 25, 2024.
On the Site
Creditor asks California court to appoint receiver for Gold Flora, citing ‘dire liquidity issues’
The request stems from debts purchased from the now-defunct cannabis distributor Herbl.
Minnesota judge delays cannabis license lottery after four lawsuits filed against state
It’s not clear when the lottery may now be held, or when cannabis licensing may restart.
Acreage says fixed shares worth zero in Canopy USA deal
The company would need to see Canopy’s stock rise above $5 for fixed shareholders to receive any value.
Cake Brands the latest target for a hemp class action lawsuit
California-based Cake reported $44 million in sales over a nine-month period in 2021.
Illicit cannabis, imported CBD targeted by new rules from Michigan state regulators
Michigan regulators proposed 96 changes to the current legal cannabis framework.
Cannara revenue surges 43%, nets profit in fiscal 2024
Sales were driven by Quebec market share gains as the Canadian cannabis producer continues to expand its canopy.
In Other News
Cannabis advertising
A federal appeals court has upheld Mississippi’s ban on medical marijuana advertising on Friday, rejecting arguments it violates the First Amendment.
Kentucky
Kentucky’s Office of Medical Cannabis and Gov. Andy Beshear announced the first group of 36 dispensary business license winners for most commonwealth counties in a lottery drawing Monday afternoon.
