The Daily Hit is a recap of the top financial news stories for Aug. 23, 2023.
On the Site
New York Regulators Name 30 Dispensaries Eligible to Open Under Court Order
Only 30 conditional adult use retail dispensary licensees in New York would be eligible to open in coming weeks under conditions outlined in a preliminary injunction issued by state judge Kevin Bryant recently, state officials noted in a court filing on Tuesday. That’s out of 463 CAURD licenses approved prior to the injunction. Read more here.
Glass House Leadership Talks Numbers, Hurdles, Federal Cannabis Reform
CEO Kyle Kazan and CFO Mark Vendetti sat down with Green Market Report after the company released its second quarter earnings to share some of their thoughts on market trends and where the national marijuana industry may be headed in the not-too-distant future. Read more here.
Red White & Bloom Gets Green Light for Aleafia Acquisition
The Ontario Superior Court of Justice approved a stalking horse asset purchase and share subscription agreement in which RWB could buy certain assets from Aleafia and subscribe for shares of certain subsidiaries of the company. Read more here.
Missouri Cannabis Regulators Crack Down on ‘Lab Shopping’
The demand for potent cannabis products has put labs under pressure to guarantee high THC levels, and now Missouri’s state health department is stepping up to ensure standardized and accurate reporting in marijuana potency and safety testing. Read more here.
Vext’s Revenue Hits $9.2M as Ohio Expansion Looms
Vext Science, Inc. (CSE: VEXT) (OTCQX: VEXTF) reported revenue of $9.2 million for the second quarter ended June 30, up from $8.76 million last year. Net income totaled $535,454 in the period versus $1.59 in the same time last year, according to filings. Read more here.
In Other News
Twilio, one of the nation’s largest communications-service providers for retailers, is prohibiting cannabis companies from using its software to reach customers. Read more here.
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