News from: Cannabis legalization lawsuit, New Mexico, RIV Capital and more.
The Daily Hit is a recap of the top financial news stories for Thursday, October 24, 2024.
On the Site
Federal circuit court sets December hearing for lawsuit seeking to legalize marijuana
The hearing is expected to include oral arguments by both the plaintiffs and the U.S. Department of Justice.
Eight New Mexico cannabis companies sue Biden administration over marijuana seizures
The lawsuit asserts that damages from the stops and seizures easily exceed $1 million.
RIV Capital tells investors sales have doubled with adult-use products
RIV Capital, under the brand name Etain, can open three co-located stores in the state selling both medical and adult-use products.
Accounting group pushes for clarity as questions around cannabis tax rules mount
The high court’s Chevron ruling adds a new dimension to calls for a clear transition framework.
In Other News
RECALL: Maine
An early October recall of cannabis products sold in Maine has expanded, the Maine Office of Cannabis Policy announce Thursday. The recall now also includes additional pre-ground adult-use cannabis flower, pre-rolls and blunts produced by Massachusetts-based Nova Farms and sold as the strains Frosted Cookies and Frozay.
JG Ohio LLC
An Ohio state appeals court won’t let a would-be cannabis processor, JG Ohio LLC, undo the denial of its bid for a provisional processing license, saying there’s no indication that the state regulators abused their discretion in scoring the company low regarding security and contamination risks.
Entourage Health
Entourage Health Corp. signed an amendment to its senior secured amended and restated credit facility entered into on Jan. 31, 2023, with an affiliate of the LiUNA Pension Fund of Central and Eastern Canada. The amendment increased the credit facility by C$2.5 million.