Budding Bonds: Connecting Cannabis Enthusiasts Through Seed Connector

The Daily Hit: September 26, 2024

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The Daily Hit is a recap of the top financial news stories for Thursday, September 26, 2024.

On the Site

SEC fines Former Weedmaps executives $175k apiece for ‘misleading’ user numbers

The SEC announced earlier that the company agreed to a $1.5 million fine to settle the same allegations of wrongdoing.

Read more here.

SEC hands down final judgments in CanaFarma case

CanaFarma Co-founder Vitaly Fargesen is fined and barred from penny stock offerings.

Read more here.

Kentucky awards first medical marijuana business permit to testing lab

A lottery for cultivator and processor permits is scheduled for Oct. 28.

Read more here.

Hemp companies sue New Jersey over new regulatory system

The operators argue that the new rules change the definition of hemp that was laid out in the 2018 Farm Bill.

Read more here.

4Front hires Canaccord Genuity to help with its finances

The company also signed an updated credit agreement with an existing lender for $2.6 million.

Read more here.

Simply Solventless to acquire pre-roll maker for $13.5 million

The move is expected to boost Simply Solventless’ projected 2024 annualized net income to $10 million per year.

Read more here.

Earnings:

In Other News

Shiny Bud

Shiny Health & Wellness Corp. completed its NOI process for its wholly owned subsidiary Shiny Bud, pursuant to the provisions of the Bankruptcy and Insolvency Act (Canada). Effective Sept. 20, 2024, the company issued 100 common shared to a purchaser and cancelled all other previously issued securities of Shiny Bud without consideration.

Read more here.

US cannabis policy

With more Americans using ever-stronger marijuana, a federal advisory panel is calling for a public health approach that’s a big departure from “Just Say No.” Thursday’s report proposes a health-focused strategy with the Centers for Disease Control and Prevention taking a larger role in cannabis policy than ever before.

Read more here.

Global cannabis seeds market

The global cannabis seeds market was valued at $1.3 billion in 2021 and is projected to reach $6.5 billion by 2031, growing at a CAGR of 18.4% from 2022 to 2031.

Read more here.

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