The Daily Hit is a recap of the top financial news stories for Monday, April 29, 2024.
On the Site
Report: DEA poised to move cannabis to Schedule III
The U.S. Drug Enforcement Administration is about to make the biggest marijuana reform move in over half a century, with a proposed reclassification from Schedule I to Schedule III on the list of controlled substances, the Associated Press reported Tuesday, citing five unnamed sources. Read more here.
New Mexico regulators target Cookies for opening day violations
A dispensary in Albuquerque, New Mexico owned by California-based Cookies is under investigation for alleged violations of the Cannabis Regulation Act, according to an April 8 notice filed by the state regulators. Read more here.
California cannabis shop sues state, claims pro-union requirements unconstitutional
A California marijuana retailer has filed a new federal lawsuit against state cannabis regulators and the attorney general’s office, asserting that pro-union requirements in the cannabis sector are unconstitutional. Read more here.
Grown Rogue climbs out of the red to hone in on Jersey, Illinois
Oregon-based Grown Rogue International Inc. (CSE: GRIN) (OTC: GRUSF) posted its financial results for the two months ending Dec. 31, 2023, and the fiscal year that ended Oct. 31, showing positive net income and a 30% year-over-year revenue growth in its core markets. Read more here.
RIV Capital stung by $47 million loss as Etain goes adult-use
Cannabis acquisition and investment firm RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) posted its financial results for the three months and nine-month transition period ending Dec. 31, 2023, showing incremental revenue alongside a sizable net loss. Read more here.
Revenues fall at Acreage Holdings as expenses are slashed
Acreage Holdings, Inc. (CSE: ACRG.A.U, ACRG.B.U) (OTCQX: ACRHF, ACRDF) reported its financial results for the fourth quarter and full fiscal year ending Dec. 31, 2023, after the markets closed on Monday. Read more here.
Entourage Health is making progress in its turnaround
Entourage Health Corp. (TSX-V: ENTG) (OTCQX: ETRGF) announced its financial results for the fiscal year that ended Dec. 31, 2023. Read more here.
Parallel shareholders continue fight against restructuring plan
Last week, beleaguered equity shareholders at Parallel Cannabis filed another response in court after the Wrigley Group and the Talladega Group requested the case be dismissed. Read more here.
In Other News
Cannabis stocks
Cannabis stocks leapt on Tuesday afternoon, buoyed by a Biden administration decision to ease federal restrictions on marijuana. Read more here.
The post The Daily Hit: April 30, 2024 appeared first on Green Market Report.
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