Cannabis News Today – July 30th, 2024!
Welcome to “Cannabis News Today,” a summary of the cannabis industry’s stock and regulatory updates.
Tilray Brands reported a 26% increase in net revenue for fiscal 2024, reaching $789 million, driven by significant growth in its cannabis and beverage-alcohol sectors. Despite narrowing losses, analysts do not expect Tilray to achieve full profitability until the 2027 fiscal year. Read all about it on the TDR Website!
Verano Holdings Corp. (OTCQX: VRNOF, CA: VRNO) has acquired The Cannabist Company Holdings Inc. (Cboe CA: CBST, OTCQX: CBSTF) operations in Virginia and Arizona, strengthening its market presence. This acquisition helps The Cannabist reduce risk and improve its balance sheet. Read all about it on the TDR Website!
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) is set to open a new medical cannabis dispensary in Ocala, Florida, expanding its presence in the state. This marks Trulieve’s 132nd dispensary in Florida and 217th nationwide.
Glass House Brands Inc. (OTCQX: GLASF, GHBWF) has issued an open letter urging President Biden, former President Trump, and Vice President Harris to support federal cannabis legalization. The company emphasizes that legalization would address public health, social justice, and economic benefits.
Avant Brands (TSX:AVNT, OTC:AVTBF) has closed a $3.9 million offering of unsecured convertible debenture units. The funds will be used to support the company’s expansion and operational initiatives.
Tilray’s Aphria RX has received a cannabis trading license in Germany, significantly expanding its market reach in Europe. This license allows Tilray to import and distribute medical cannabis in Germany.
Organigram Holdings Inc. (NASDAQ: OGI, TSX: OGI) has appointed Craig Harris to its Board of Directors. Harris has extensive experience in finance and strategic growth, previously holding senior roles at global investment firms.
According to Marijuana Moment, Ohio marijuana officials have issued guidance to dispensaries on rules for opening day sales, events, and advertising ahead of the market launch. This guidance aims to ensure compliance and smooth operation as the state’s marijuana market begins.
Congressional Research Services suggests that marijuana businesses could advertise in newspapers and magazines if cannabis is rescheduled federally. This change would ease current advertising restrictions and potentially expand market reach for cannabis companies.
Popular cannabis brand Stiiizy presented a $230,000 donation to the city of Compton, California. The funds are aimed at supporting community programs and initiatives.
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