The Daily Hit: November 27, 2024
The Daily Hit is a recap of the top financial news stories for Wednesday, November 27, 2024.
On the Site
Nebraska state judge tosses legal challenge to medical marijuana ballot measures
While state officials are likely to appeal, the decision lets activists and supporters begin moving forward on the market.
Colorado attorney general sues marijuana company for marketing its goods as hemp
Agents purchased 23 products from Foxhole Farms, 21 of which tested at higher levels of THC than allowed in hemp goods.
Florida issues long-awaited medical cannabis licenses after two-year wait
The 22 new medical marijuana licenses will nearly double the number of licensed operators in the state.
Earnings:
In Other News
Minnesota
A case challenging how the Minnesota Office of Cannabis Management handled social equity license applications moves next to the state Court of Appeals. A district court judge halted the lottery indefinitely after applicants who were denied sued.
Cansortium
Cansortium closed on a new senior secured credit agreement of up to $96.5 million with Chicago Atlantic Admin LLC as administrative agent for certain lenders. The credit agreement bears a cash interest rate of 12% per annum and paid-in-kind interest of 1% per annum, and is due to mature on Nov. 26, 2028.
TerrAscend Corp.
TerrAscend Corp. appointed Lynn Gefen as chief people officer in addition to her existing role as chief legal officer and corporate secretary, effective Nov. 12.
