Cannabis News Today – July 12th, 2024
Welcome to “Cannabis News Today,” a summary of the cannabis industry’s stock and regulatory updates.
Nebraska Advocates Push for Medical Marijuana Legalization
Nebraska advocates, led by Crista Eggers, are pushing for medical marijuana legalization, collecting 2,500 signatures in Omaha and Lincoln. The campaign faces challenges in the verification process, needing 5% voter support in 38 of 93 counties. The future of the initiative hinges on upcoming verification and petition language review steps. Read all about it on the TDR Website!
Illinois Hits $1 Billion in Cannabis Sales
Illinois has reached $1 billion in cannabis sales faster this year than in 2023, reflecting the growing demand in the state. This milestone highlights the significant economic impact of the cannabis industry in Illinois.
Schwazze Restructures Debt Obligations
Schwazze (OTCQX: SHWZ) has announced the restructuring of its February 2025 debt obligations, aiming to improve its financial flexibility and long-term growth prospects. This decision is part of the company’s broader strategy to strengthen its balance sheet.
Trulieve Opens New Dispensary in Wilkes-Barre
Trulieve (CSE: TRUL, OTCQX: TCNNF) has opened a new affiliated medical marijuana dispensary in Wilkes-Barre, Pennsylvania. This expansion enhances Trulieve’s footprint and provides more patients with access to high-quality medical cannabis products.
Skye Bioscience Forms Advisory Board
Skye Bioscience (NASDAQ: SKYE) has established a Metabolic, Clinical, and Scientific Advisory Board to support its research and development efforts. This board will guide Skye’s initiatives in metabolic and clinical science to advance its cannabinoid-based therapies.
Nasdaq Delists Lucy Scientific
Nasdaq has delisted Lucy Scientific, rendering its stock essentially worthless. The decision follows financial and operational challenges that have significantly impacted the company’s viability.
Jones Soda Upsizes Equity Offering
Jones Soda Co (OTCMKTS: JSDA). has announced the upsizing of its equity offering to support its growth initiatives. The additional funds will be used to expand the company’s product lines, including its cannabis-infused beverages.
Stockton University Launches Cannabis Degree
Stockton University in New Jersey has introduced an undergraduate degree in cannabis studies. This program aims to prepare students for careers in the burgeoning cannabis industry through a comprehensive curriculum.
Thai Cannabis Policy Reversal Concerns Investors
Thailand’s potential reversal of cannabis legalization is causing investor concern. Key political parties argue that the shift could undermine investor confidence and disrupt the burgeoning cannabis market in the region.
Cannabix and Omega Labs Progress on Breathalyzer
Cannabix Technologies (OTCMKTS: BLOZF) and Omega Laboratories have reported positive developments in their marijuana breathalyzer testing technology. This progress could lead to a reliable tool for law enforcement and workplace safety applications.
Read more cannabis news on the TDR Website!