The Daily Hit is a recap of the top financial news stories for Nov. 21, 2023.
On the Site
Family Sues Trulieve Over Death in Massachusetts Cannabis Facility
The family of Lorna McMurrey, a 27-year-old woman who died from an asthma attack at a Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) production facility in Massachusetts, has filed a wrongful death lawsuit against the company. Read more here.
Slang Puts Itself up for Sale
Slang Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) may be putting itself up on the sales block.. The decade-old cannabis company retained PGP Capital Advisors LLC to assist in exploring, reviewing, and evaluating strategic alternatives that may be available to maximize shareholder value. Read more here.
Cronos Group Gets Investor Case Dismissed
Cronos Group Inc. (NASDAQ: CRON) got some good news from U.S. District Judge Eric N. Vitaliano when he dismissed the investor lawsuit against the cannabis company. The lead plaintiff in the case, Keith Norman, alleged that Cronos Group knew it mislabeled some transactions that it recorded as sales. Read more here.
MariMed Secures $58.7M from Needham Bank
MariMed Inc. (CSE: MRMD) (OTCQX: MRMD) closed on a 10-year $58.7 million loan with Needham Bank, a Massachusetts-based community bank. The money from the loan will first be used to pay off existing loans and potentially buy some assets, the company said. Read more here.
Earnings:
• Indiva Posts Record Earnings as Cannabis Edibles Demand Surges
• LEEF Brands Faces Revenue Decline Despite Cost-Cutting Efforts
In Other News
AgriCann Solutions Corp.
AgriCann Solutions Corp. received licensing from Health Canada that allows for the production and distribution of a wide range of cannabis-infused products, including edibles, beverages, concentrates, and topicals (the “Cannabis 2.0 licence”), through AgriCann’s wholly owned subsidiary Newline Ventures Inc. Read more here.
Curaleaf Holdings
A lawsuit in Florida federal court alleges cannabis company Curaleaf discriminated against one of its managers due to his age and an injury he sustained at work by firing him after he enlisted an attorney to assist with his workers’ compensation claim. Read more here.
Veriheal
Cannabis health-tech company Veriheal announced the three winners of its annual Innovation in Cannabis Scholarship for 2023, each of whom will receive $10,000 to put toward college tuition and fees. Read more here.
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