Welcome to “Cannabis News Today,” a summary of the cannabis industry’s stock and regulatory updates.
How US Cannabis MSOs Rank for Days Payable Outstanding
Days Payable Outstanding (DPO) measures how long a company takes to pay its suppliers. A higher DPO can indicate good cash flow management but might also signal financial distress. Please read all about it on the TDR Website!
New Europe-Focused Cannabis Companies Seek Listings
European cannabis companies, including Grow Group and Wellford Medical from London, and Lisbon-based Somai Pharmaceuticals, are planning Nasdaq IPOs in early 2025. This is driven by potential regulatory changes in the U.S. and Germany, with Germany decriminalizing cannabis possession and small-scale home cultivation, enhancing the European cannabis market. Please read all about it on the TDR Website!
Illegal Cannabis Seized in California State Parks Crackdown
California law enforcement, including the Unified Cannabis Enforcement Task Force (UCETF), seized thousands of pounds of illegal cannabis near state parks. The operations targeted sites like Saddleback Butte State Park, removing over 5,200 illegal plants and mitigating environmental damage while protecting the legal cannabis market. Please read all about it on the TDR Website!
Matt Hawkins Shares Update on Institutional Investments in Cannabis Stocks
Matt Hawkins, founder of Entourage Effect Capital, discussed the positive outlook for institutional investments in cannabis stocks on the “Trade to Black” podcast. He highlighted that rescheduling cannabis to Schedule 3 could relieve tax burdens and attract institutional capital. Please read all about it on the TDR Website!
Over 30,000 Comments Submitted on DEA’s Cannabis Rescheduling Proposal
The DEA has received over 30,000 public comments regarding its proposed rule to reschedule cannabis. This overwhelming response reflects the significant public interest and the contentious nature of the rescheduling debate.
SNDL Announces Overhead Restructuring and Operational Adjustments
SNDL (NASDAQ: SNDL) has announced a major restructuring project aimed at reducing overhead costs and improving operational efficiency. These adjustments are part of the company’s strategy to enhance profitability and streamline operations.
Delta 9 Enters Binding Agreement with The Fika Company
Delta 9 Cannabis Inc. (TSX: DN, OTC: DLTNF) has entered into a binding term sheet with The Fika Company to attempt to maximize stakeholder value. Additionally, Delta 9 has obtained CCAA protection, providing the company with a framework to restructure its finances.
FTC and FDA Issue Cease-and-Desist Letters for Delta-8 THC Products
The FTC and FDA have sent a second round of cease-and-desist letters to companies selling products containing Delta-8 THC. These actions are part of ongoing efforts to regulate and ensure the safety of cannabis-derived products.
Avant Brands Announces $3.9 Million Private Placement
Avant Brands Inc. (TSX: AVNT, OTCQX: AVTBF) has announced a $3.9 million private placement of unsecured convertible debenture units. This funding will support the company’s growth initiatives and strengthen its financial position.
Nova Cannabis Announces Leadership Transition
Nova Cannabis Inc. (TSX: NOVC) has announced a leadership transition with new appointments aimed at driving the company’s strategic goals. This change is expected to bring fresh perspectives and renewed focus to the company’s operations.
Senate Committee Urges VA to Consider Medical Marijuana for Veterans
A Senate committee is pushing the VA to consider medical marijuana as an alternative to opioids for military veterans. This initiative highlights the potential benefits of cannabis in addressing veterans’ health issues.
Safe Harbor Financial Submits Comments on Cannabis Rescheduling
Safe Harbor Financial (NASDAQ: SHFS) has submitted comments to the Justice Department regarding the rescheduling of cannabis. The company’s input underscores the financial sector’s interest in the regulatory changes impacting the cannabis industry.
Read more cannabis news on the TDR Website!
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