Articles written by Jelena Martinovic

CBD Drug For Tuberous Sclerosis: Caregivers Continue Epidiolex Treatment Citing Seizure Reduction And Cognitive Improvements

The majority of caregivers of patients with tuberous sclerosis complex (TSC) planned to continue Epidiolex treatment, citing benefits like reduced seizure frequency and improvements in cognition and communication. That's according to data from the BECOME-TSC (BEhavior, COgnition, and More with Epidiolex) caregiver survey, revealed by Jazz Pharmaceuticals plc (NASDAQ: JAZZ). New data on Epidiolex is being presented at the American Epilepsy Society (AES) 2024 Annual Meeting, being held December 6-10 in Los Angeles, California via nine company-sponsored posters.Epidiolex is the only FDA-approved prescription CBD treatment for severe forms of epilepsy. It was developed and produced by GW Pharmaceuticals, which was acquired by Jazz Pharmaceuticals in 2021.

Canopy Growth Wraps Up Acreage Acquisition Expanding US Cannabis Portfolio, What Investors Need To Know

Canopy USA, LLC has wrapped up its acquisition of Acreage Holdings, Inc. (CSE: ACRG.A.U, ACRG.B.U) (OTCQX: ACRHF, ACRDF), Canopy Growth Corporation's (TSX: WEED) (NASDAQ: CGC) U.S.-domiciled holding company said on Monday. Canopy USA, created in 2022 to streamline the Canadian cannabis giant's entry into the US market, now owns 100% of the issued and outstanding shares of Acreage. The $3.4 billion acquisition deal was first in 2019. Initially, the deal was to be undertaken should the U.S. legalize marijuana on a federal level. That deal was later restructured.

Organigram Wants To Become Canada's Largest Cannabis Company By Market Share Via $71M Acquisition Deal

Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) has announced the acquisition of 100% of Motif Labs Ltd. for CA$90 million ($64 million), comprising of CA$50 million in cash and CA$40 million in Organigram common shares, based on a 30-day trading VWAP of $2.321 on the TSX. An additional CA$10 million contingent consideration is payable in shares, conditional on achieving a share price above $3.2203 within 12 months. The deal is financed through Organigram's cash reserves.

Illinois Cannabis Sales Back On Track In October Hitting $142.3M After Slight September Dip

ollowing a drop in September cannabis sales numbers in Illinois, October figures totaled $142.3 million, a 4.2% increase sequentially, reported New Cannabis Ventures' Alan Brochstein. Cannabis sales for the first ten months of 2024 have reached $1.5 million, as recreational marijuana sales in Illinois are about to enter its fifth year following the launch on Jan 1. 2020, the Illinois Department of Financial and Professional Regulation (IDFPR) data showed. This past July, cannabis sales reached the $1 billion mark year-to-date, beating last year's July 10 milestone.

Pennsylvania Lawmakers Push To Legalize Marijuana Yet Again, Here's Who's Behind Latest Attempt

A new legislative push in Pennsylvania seeks to legalize recreational cannabis in the commonwealth. Reps. Rick Krajewski and Dan Frankel are circulating a memo to gather cosponsors for the bill intended for the 2025-2026 legislative session, reported Marijuana Moment. The Democratic duo was behind a series of cannabis reform hearings over the past year. The memo calls for fellow legislators to join the legalization push.

Cannabis-Focused Poseidon Bets On New Jersey, Wraps Up Investments In These Two Dispensaries

Poseidon Investment Management announced on Wednesday that it has completed two investments into two New Jersey dispensaries, BLKBRN and Dogwood Green. Both businesses are focused on serving both patients and recreational cannabis consumers when they open in 2025."With these two investments, we are allocating to retail in special situations, driving outsized sales with a focus on profitability, increasing the probability of success for founders, and generating faster returns for our investors," Poseidon Managing Director Patrick Rea said.

Advocates Urge Biden To Free Non-Violent Cannabis Offenders After Pardoning His Son

President Joe Biden has granted a full and unconditional pardon to his son, Hunter Biden, in the federal felony gun and tax cases, as his tenure as the 46th president of the United States comes to an end. That's according to an official statement from the White House on Sunday.In the aftermath of Biden's controversial decision, which raised debate from both Democrats and Republicans but received endorsement from former Speaker Nancy Pelosi (D-Calif.), cannabis advocates are getting louder.Radio host Charlamagne the God criticized the pardon, pointing out that Biden could also pardon individuals imprisoned for non-violent cannabis offenses.

Cannabis Co. Flora Growth Wants To Allow Customers To Pay With Bitcoin As It Shatters $100K Mark

Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) explores integrating Bitcoin as an accepted payment method across its business platforms, the company said on Wednesday.The move aligns with the company's commitment to innovation and meeting the evolving preferences of its global customer base.

Predatory Practices Persist In Missouri's Cannabis Industry, Find Investigations Into Microbusiness Licenses

Cannabis Grower Receives $500K Loan From Safe Harbor For Energy-Saving Improvements

SHF Holdings, Inc. (NASDAQ: SHFS), doing business as Safe Harbor Financial, announced on Wednesday the closing of a $500,000 loan to PI 51st Avenue, LLC, a subsidiary of Pioneer Interests, Inc, doing business as Natty Rems, LLC.This loan is offered under the Cannabis Resource Optimization Program (CROP) and facilitated through partnerships with the Collective Clean Energy Fund (CCEF) and Partner Colorado Credit Union (PCCU).The loan proceeds will support energy-efficient upgrades at PI 51st Avenue's cultivation and processing facility in Denver, Colorado.

Canopy Growth Set To Complete Acreage Acquisition, Leaving Some Shareholders Potentially Open To Losses

Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) and Acreage Holdings, Inc. (CSE: ACRG.A.U, ACRG.B.U)(OTCQX: ACRHF, ACRDF) announced on Monday that it is anticipated that Canopy USA, LLC will complete its acquisition of Acreage on or around Dec. 9, 2024. The Canadian cannabis giant announced its plans to acquire Acreage for $3.4 billion in 2019. Initially, the deal was to be undertaken should the U.S. legalize marijuana on a federal level. That deal was later restructured. The deal outlined the plan to acquire all Class E subordinate voting shares of Acreage. This acquisition will follow the purchase of the Class D shares of Acreage, based on an agreement from October 24, 2022. After both acquisitions are completed, Canopy USA will own all shares of Acreage.

NBA Champ Jason Williams Says Marijuana Enhances Creativity On Court But Not 'Good Idea' Before Game

The National Basketball Association (NBA) has not been testing players for marijuana use since April 2023. Some questioned the move, while others praised it, including rapper, cannabis entrepreneur and advocate Snoop Dogg. Former NBA player Jason Williams, who played from 1998 to 2011, said even if marijuana had been legal during his playing days, he wouldn't have used it before games. "I don't think anyone should probably smoke before a game, Williams told Basketball Network. "For some people, it might help them, and I'm sure it does, but for me, smoking before a game wouldn't be a good idea."

Cannabis Giant High Tide Taps Into $113 Billion Global E-Commerce Market With New Product Categories

High Tide Inc. (NASDAQ: HITI) (TSXV: HITI) (FSE: 2LYA) is expanding its innovative Cabana Club membership program to the U.S., EU and UK through dedicated websites. "Innovation and market disruption are at the core of High Tide's DNA, and today marks another milestone in our journey," Raj Grover, the company's founder and CEO, said. "I am excited to announce that, in celebration of Cyber Monday, we are taking our highly successful Cabana Club membership program global."High Tide also said it's adding international snacks and confectionery to its e-commerce platform, alongside hemp-derived CBD and cannabis accessories.

Cannabis Retailer Tokyo Smoke Moves Forward After Major Restructuring

Cannabis retailer Tokyo Smoke has finished its restructuring process and is no longer under financial protection, following a court's approval. The Canadian company first announced that it started restructuring its business in August, obtaining an initial order under the Companies Creditors Arrangement Act (CCAA) from the Ontario Superior Court of Justice in Canada. In Sept. the company entered a share subscription agreement with TS Investments Corp., its parent company. Under the deal, TS Investments agreed to subscribe to all of the issued and outstanding shares of Tokyo Smoke. That deal was valued at roughly $56.7 million (CA$77 million).

PharmaCielo Cannabis Co. Reports 270% YoY Increase In Q3 Revenue, Confident About Profitability In 2025

Cannabis products company PharmaCielo Ltd. (TSXV: PCLO) (OTC: PCLOF) announced on Monday financial and operational results for the three and nine months ended Sept. 30, 2024. The Toronto-based company said revenue for the third quarter totaled CA$1.3 million ($927,772), up from CA$352,000 in the prior year's period. For the nine months, total revenues reached CA$2.4 million, compared to CA$1.3 million in 2023. "PharmaCielo achieved substantial revenue growth, successfully expanded into new international markets, and continued its focus on reducing costs to improve its operational efficiency," Marc Lustig, chairman and CEO of PharmaCielo, said. "Our strategic position in multiple regions, coupled with an expanding product portfolio beyond CBD isolate, has enhanced our ability to serve diverse international markets and generate increased revenue."

Ayurcann Cannabis Co. Reports 28% YoY Net Revenue Growth In Q1 With Strong Performance In Vapes And Pre-Rolls

Ayurcann Holdings Corp. (CSE: AYUR) (OTCQB: AYURF), a Canadian processing and manufacturing company specializing in cannabis 2.0 and 3.0 products, announced on Thursday its first quarter financial and operational results for the three months ended Sept. 30, 2024. The Toronto-based company highlighted a 25% year-over-year increase in gross revenue, strong gross margin and top market presence in the vapes and pre-roll category in Ontario during the period.Ayurcann said fiscal 2024 and the beginning of fiscal 2025 was a pivotal time for Ayurcann and the broader cannabis industry in Canada.

Canadian Cannabis Co. Entourage Health Shares Spike On 8% YoY Q3 Revenue Growth, Reduced Losses

Canadian cannabis producer Entourage Health Corp. (TSX-V: ENTG) (OTCQX: ETRGF) (FSE: 4WE) announced on Friday its third quarter financial results for the three months ended Sept. 30, 2024. The company reported an 8% year-over-year increase to CA$9.5 million ($6.8 million) in net revenue for the period. Sequentially, net revenue increased by 2.1%. George Scorsis, the company's CEO and chair, said the revenue growth is a result of a strategic shift into different markets. The move allowed the company to "diversify and tap into new opportunities," Scorsis said.

Cannabis-Focused RIV Capital Reports 186% YoY Surge In Q3 Revenue Ahead Of Major Merger That Will Cover 25% Of US Population

RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) reported on Friday its third quarter results for the three months ended Sept. 30, revealing a 28% sequential and 186% increase year-over-year in net revenue to $4.9 million.Out of that sum, retail revenue accounted for $3.4 million, up from $1.5 million in the third quarter, reflecting strong growth from adult-use dispensaries in New York. Wholesale revenue surged to $1.6 million, up from $0.3 million over the same period, the company said in a press release.

Greenway Greenhouse Cannabis Sees 52% YoY Growth In Q2 Revenue Amid Rising Losses And Cost Challenges

Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (OTCQB: GWAYF) reported on Wednesday its second-quarter interim financial statements for the three months ended Sept. 30, 2024. Canadian cultivator of high-quality greenhouse cannabis reported a 52% year-over-year increase in revenue to CA$1.8 million ($1.3 million). Moreover, for the first half of the fiscal year, Greenway's net revenue increased by 78% compared to the same period in 2023.CEO Jamie D'Alimonte highlighted the company's revenue growth, product performance and ongoing commitment to quality cannabis production in a press release issued Wednesday.

Canadian Cannabis Producer C21 Launches Share Buyback, Citing Undervalued Stock Price

Vertically integrated cannabis company C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) announced on Tuesday it will repurchase roughly 5% of its issued and outstanding common shares in order to cancel it.The Canadian cannabis company may buy up to 6,002,390 of its common shares under a normal course issuer bid and cancel them upon their purchase. Vertically integrated cannabis company C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) announced on Tuesday it will repurchase roughly 5% of its issued and outstanding common shares in order to cancel it. What Happened The Canadian cannabis company may buy up to 6,002,390 of its common shares under a normal course issuer bid and cancel them upon their purchase. The buyback program will run for a year, starting Monday, Dec. 2, 2024, using cash on hand for purchases.

Jelena Martinovic

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga