New Cannabis REIT Hits The Market

There is a new cannabis Real Estate Investment Trust or REIT in the market. MJ REIT was recently formed as a partnership between Rainbow Realty Group and Arcview Capital. Rainbow Realty Group will serve as sub-manager to MJ REIT, responsible for selecting and underwriting investments, while Arcview Capital will serve as the managing broker-dealer, tasked with... Continue Reading →

Nova Cannabis Beats On Revenue, Bets On Value

Nova Cannabis Inc. (TSX: NOVC) posted positive results after the market close on Thursday as the company pivots toward more competitive pricing under a new discount banner. The Canadian cannabis company released its financial report card in the period ending June 30, 2021. Nova delivered approximately $56.3 million in total revenue during the period, a... Continue Reading →

Michigan Breaks Monthly Marijuana Sales Record In July, State Data Shows

Michigan set a new monthly record for marijuana sales in July, reaching nearly $210 million, according to data published by the state Cannabis Regulatory Agency (CRA) on Thursday. The state saw $21,121,711 in medical cannabis sales and $188,818,744 adult-use marijuana purchases last month. That total is about $15 million greater than the previous monthly record... Continue Reading →

How Missouri Is Faring With Tax Relief And Cannabis Reform

How Missouri Is Faring With Tax Relief And Cannabis Reform This month the “Show-Me State” is receiving tax relief and will include a referendum this November for Missouri voters to approve adult-use cannabis in Missouri. The IRS announced on August 10, 2022 that flooding victims in parts of Missouri now have until November 15, 2022... Continue Reading →

The Daily Hit: August 11, 2022

The Daily Hit is a recap of cannabis business news for August 11, 2022. ON THE SITE Cannabis Consumption on Track to Beat Alcohol As talks revolving around the federal legalization of cannabis splinter in Congress, the question of whether cannabis can eat beverage alcohol’s margins remains a growing one. In a report, titled, “Is... Continue Reading →

Clever Leaves Misses On Revenue, Set Sights On Markets Abroad

Clever Leaves Holdings Inc. (NASDAQ: CLVR) slid in trading on Thursday as the missed revenue expectations — showing how softening sales and dried financing punches holes in the cannabis sector and pushes them toward opportunities abroad. The multi-state cannabis operator reported its financial results for the first quarter ending June 30, 2022. Clever Leaves delivered... Continue Reading →

TerrAscend Misses on Revenue, Bullish on Jersey

TerrAscend Corp.  (CSE: TER) (OTCQX: TRSSF) ticked up in trading on Thursday despite missing expectations on revenue, which were buoyed by New Jersey sales and an injection of sales from its recent acquisition of Gage. The multi-state cannabis operator reported its financial results for the first quarter ending June 30, 2022. For the key metric... Continue Reading →

California Bills To Legalize Psychedelics Possession, Authorize Interstate Marijuana Commerce And More Advance To Floor Votes

A California bill to legalize psychedelics possession is now heading to the Assembly floor, along with a slew of additional Senate-passed reform proposals that would, among other things, authorize interstate cannabis commerce and prevent localities from banning medical marijuana delivery services. Also, on the Senate side, several Assembly-passed cannabis measures are now also advancing to... Continue Reading →

Leafly Revenue Rises, But Gives Cautious Outlook

Leafly Holdings, Inc.  (NASDAQ: LFLY) announced financial results for its second quarter ending June 30, 2022. with revenue rising 13.8% to $12.1 million over last year’s $10.5 million for the same time period. Leafly attributed the increase to growth in retailer and brand revenues. The company reported a net income of $14.8 million, which included... Continue Reading →

Aleafia Watches Revenues Rise in Canada, Looks Across the Pond

Aleafia Health Inc. (OTCQX: ALEAF) delivered positive results on Thursday as it continues to cut costs and find more profit in the Canadian legal market and overseas. The Canadian cannabis company reported its financial results for the three months ending June 30, 2021. Aleafia Health releases its financial report card on a 15-month fiscal year... Continue Reading →

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