The Daily Hit is a recap of the top financial news stories for Tuesday, June 18, 2024.
On the Site
Blüm Holdings sheds cannabis dispensary in debt-cutting move
The sale retired about $44.5 million in debt for Blüm.
New York leaders say more than 500 illicit cannabis shops shuttered thus far
Roughly 400 of the shops were located in New York City.
RAW rolling papers sues male enhancement pill company for copying its trademark
RAW had its own packaging claim problems in 2023 for making false statements, which is has since rectified.
California State Fair to allow cannabis sales, consumption this summer
The program, which will allow direct-to-consumer sales, aims to “amplify California’s rich agricultural bounty.”
Christina Lake Cannabis posts 17% revenue rise, but net loss widens
Oversupply weighed on the firm’s margins, prompting impairment charges.
In Other News
Charlotte’s Web Holdings
Charlotte’s Web Holdings (TSX: CWEB) (OTCQX: CWBHF) appointed Erika Lind as chief financial officer, effective June 29. Lind replaces Jessica Saxton, who resigned from the company to pursue other interests effective June 28.
Zen Leaf
Workers at Zen Leaf in Buchanan, Michigan, voted overwhelmingly on Friday to ratify their first contract with UFCW 951.
Gee Distributors
Colorado’s attorney general is suing Greeley-based cannabis product retailer Gee Distributors, which does business as CBDDY, as well as owner Christopher Landon Eoff for allegedly selling marijuana marketed as industrial hemp.
The post The Daily Hit: June 18, 2024 appeared first on Green Market Report.
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