It is time for your Day by day Strike of hashish financial information for January 24, 2022.
On the Web site
The fight amongst Ascend Wellness (OTC: AAWH) and MedMen Inc. (OTC: MMNFF) is receiving messier by the working day. The most current shot is coming from MedMen whose counterclaim alleges that Ascend’s CEO Abner Kurtin utilized political affect with New York Governor Kathy Hochul and was soon thereafter able to receive an e mail indicating the license transfer from MedMen to Ascend was authorized.
MedMen states in its countersuit that on December 28th, Richard Zahnleuter the Normal Counsel of the Office of Cannabis Management (which supports but does not immediate the Cannabis Control Board) contacted MedMen to say he could need to have up to 60 days to finish its evaluate. Nevertheless, MedMen also reported that Zahnleuter emailed the pursuing evening indicating that the December 16th email did give the “final” acceptance for the offer. Making factors even more difficult, MedMen claims it spoke with Zahnleuter on the cell phone who said he had been “pressured” to mail the e mail saying the December 16th e-mail gave last approval. Zahnleuter would not disclose to MedMen who experienced pressured him.
Hashish banking company Dama Monetary has entered into an agreement to acquire GrowFlow Corp. for an undisclosed sum. GrowFlow is a company administration and compliance company that has processed more than $3.3 billion for hashish suppliers, cultivators, processors, and distributors. The deal is reported to be prepared to close this quarter.
An emerging trend in some bioscience startups is the development of each cannabis and psychedelics merchandise. One these organization is Enveric Biosciences, headquartered in Naples, Florida, which hopes to leverage psychedelics-derived molecules for the brain and build synthetic cannabinoids for the physique in the treatment method of cancer. Enveric Biosciences focuses on synthesizing novel, tailored and remarkably differentiated spinoff molecules primarily based on classic psychedelics these types of as psilocybin, N,N-dimethyltryptamine (DMT), mescaline and MDMA.
The legalization of hashish is currently off to a rough start off in the point out of Texas. The condition legalized clinical cannabis, but the plan is so restrictive that only a handful of dispensaries exist with roughly 16,00 registered people. 500 physicians have been accredited to prescribe health care marijuana in the point out. Texas is also a significant agricultural state and the urge for food for hemp farming seems much better than the want for professional medical marijuana. It is also sparking some negative conduct by Texans in and out of the state. This week, Regulation360 reported that Todd Smith, a political advisor for Texas Division of Agriculture Commissioner Sid Miller, was indicted on soliciting bribes for hemp licenses. He was charged with soliciting a $25,000 payment in exchange for having a license awarded by the Division in August 2019. The indictment also alleges that Smith managed to rating $65,000 in August and November 2019 from two people.
In Other Information
Hydrofarm Holdings Team, Inc. (Nasdaq: HYFM), a foremost distributor and maker of hydroponics devices and materials for controlled atmosphere agriculture, declared it has entered into an agreement with California-based mostly AXEON Drinking water Technologies, a main maker of drinking water purification methods, to distribute new strains of reverse osmosis h2o filtration devices and alternatives for the horticultural industry.
Sunstream Prospects LP, an affiliate of Sunstream Bancorp Inc., a joint enterprise sponsored by Sundial Growers Inc. (NASDAQ: SNDL), has been assigned an investment decision grade rating of BBB+ by Egan-Jones Ratings Enterprise, an independent, unaffiliated rating agency.
Novamind Inc. (CSE:NM)(OTCQB:NVMDF) has entered into a securities invest in settlement with a one institutional investor for a non-public placement of its widespread shares and warrants to order Popular Shares for gross proceeds of around C$5 million. Pursuant to the Private Placement, the Enterprise will problem 12,500,000 Prevalent Shares and Warrants to acquire up to an aggregate of 12,500,000 Popular Shares at a acquire cost of CAD$.40 per Widespread Share and linked Warrant.