The Daily Hit: October 3, 2023

The Daily Hit: October 3, 2023

The Daily Hit is a recap of the top financial news stories for Oct. 3, 2023.

On the Site

Missouri Awards Nearly 50 Microbusiness Licenses

Missouri cannabis regulators on Monday announced 48 winners of coveted marijuana microbusiness licenses. Six permits were apportioned to each of the state’s eight congressional districts, of which two were dispensary microbusinesses and the other four were wholesale facilities. Read more here.

Maryland Retail Cannabis Sales Tick Down in September

Maryland retail cannabis sales topped $90 million for medical and recreational marijuana goods, combined, in September, according to state figures. Total sales of $90.5 million fell slightly from the $91.7 million reported in August. Read more here.

Your Take: How to Navigate Maryland’s Adult-Use Landscape

From the moment that Maryland’s voters approved the adult-use of marijuana in convincing fashion, attention turned to Annapolis, where state lawmakers were tasked with finalizing the ground rules of the new market. Read more here.

Stock Market Moves: Verano, Leafly

Both Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) and Leafly Holdings (NASDAQ: LFLY) made announcements regarding the exchanges where the cannabis stocks are traded. Verano is moving its common shares to the Cboe from the Canadian Securities Exchange, while Leafly made it back into the good graces of Nasdaq. Read more here.

New York Lawmakers Urge Governor to Sign Cannabis Crop Rescue Act

The Cannabis Crop Rescue Act was introduced May 19 by state Democratic Sen. Michelle Hinchey and passed in June, but is waiting for Gov. Kathy Hochul to sign the legislation into law. Read more here.

In Other News

Aurora Cannabis

Aurora Cannabis (NASDAQ: ACB) (TSX: ACB) closed its previously announced bought deal offering of 53,187,500 common shares at a price of C$0.73 per offered security, for aggregate gross proceeds to Aurora of approximately C$38.8 million. The gross proceeds include the full exercise of the over-allotment option by Canaccord Genuity to purchase 6,937,500 additional common shares on the same terms as the offering. Read more here.

Curaleaf Holdings

Curaleaf Holdings (CSE: CURA) (OTCQX: CURLF) closed its previously announced marketed offering of subordinate voting shares for total gross proceeds of C$16.2 million. Read more here.

MedMen Enterprises

MedMen Enterprises Inc. announced that its annual financial filings for the fiscal year ended July 31 will require “additional time.” The company previously identified errors in prior reports that resulted in misstatements. As a result, the company also anticipates restating financials from 2022. Read more here.

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