News

Ally Biotech Announces Acquisition of Popular THC “Chill Pill” Soft Gel Cap Line From Desert Medical Campus, Inc.

March 21, 2023

PAYSON, Ariz.–(BUSINESS WIRE)– #Cannabis–Ally Biotech, a science-based company and provider of leading-edge bioactive cannabinoid delivery solutions, today announced the acquisition of the popular Chill Pill™ brand, an extensive line of soft, easy-to-swallow soft gel caps and all of its assets, from Desert Medical Campus, in an all-cash transaction. The Chill Pill brand, founded in 2018 by Andrew Provencio at his Desert Medical Campus facility, offered the first THC soft gel cap on the market in Arizona

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POSaBIT Expects FY 2023 Revenue of $60 to $63 Million, Gross Profit of $15 to $17 Million and to Resume Profitability on an Adjusted EBITDA Basis

March 21, 2023

TORONTO & SEATTLE–(BUSINESS WIRE)–POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF) (the “Company” or “POSaBIT”), a premier point-of-sale and payments provider for the cannabis industry, today provided financial guidance for 2023. 2023 Financial Guidance The Company provides the following guidance for the full year 2023.   Full Year 2023 Guidance1   (as of March 20, 2023, in US dollars)     Total Revenue $60 to $63 million Gross Profit $15 to $17 million Adjusted EBITDA2 Positive 1 Does not

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Adnant Consulting Transforms Unrivaled Brands With 41% Reduction in Debt in Bear Cannabis Market

March 21, 2023

LOS ANGELES–(BUSINESS WIRE)–Adnant Consulting (the Company), a national cannabis accountancy, has spent almost a decade leveraging its financial and regulatory expertise, as well as its industry relationships, to take cannabis startups like Green Thumb Industries, Glass House Brands and MedMen to public markets. Now the Company is demonstrating its acumen in reviving troubled businesses through strategic executive placement, turning to its proven leadership to generate rapid fiscal turnaround

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Enveric Biosciences Establishes Australia-based Subsidiary to Accelerate its Lead Psilocin Prodrug Program Targeting Mental Health Indications

March 21, 2023

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Enveric Biosciences (NASDAQ: ENVB) (“Enveric” or the “Company”), a biotechnology company dedicated to the development of novel small-molecule therapeutics for the treatment of anxiety, depression, and addiction disorders, today announced that it has established Enveric Therapeutics Pty. Ltd., an Australia-based subsidiary, to support the Company’s plans to advance its EVM201 Series, including lead candidate EB-373, towards the clinic. Enveric Therapeutics will

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Flora Growth to Announce 2022 Year End Results April 3, 2023, at 8:00 a.m. ET

March 21, 2023

FORT LAUDERDALE, Fla. & TORONTO–(BUSINESS WIRE)–Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading cultivator, manufacturer and distributor of global cannabis products and brands, will host its 2022 year end earnings call via webcast on Monday, April 3, 2023 at 8:00 a.m. ET. During the webcast, Flora management will deliver financial and operational results for the year ended December 31, 2022, and provide updates on Flora’s House of Brands, Commercial & Wholesale op

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Organigram Announces Director Appointment

March 21, 2023

TORONTO–(BUSINESS WIRE)–Organigram Holdings Inc. (“Organigram” or the “Company”) (TSX: OGI; NASDAQ: OGI), announced that BAT has designated Ms. Caroline Ferland as a nominee to Organigram’s board of directors (the “Board”). Caroline Ferland is a lawyer with extensive international experience assisting multinational companies to operate with confidence and integrity in highly regulated and high-risk environments. As the first Group Head of Business Conduct and Compliance for BAT, Caroline led

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EQUITY ALERT: Rosen Law Firm Files Securities Class Action Lawsuit on Behalf of Rite Aid Corporation Investors – RAD

March 20, 2023

NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Rite Aid Corporation (NYSE: RAD) between April 26, 2018 and March 13, 2023, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Rite Aid investors under the federal securities laws. To join the Rite Aid class action, go to https://rosenlegal.com/submit-form/?case_id=9388 or call Phillip Kim, Esq.

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Cannabis Vape Technology Company AVD Strengthens Executive Team with General Counsel Appointment

March 20, 2023

SEATTLE–(BUSINESS WIRE)–AVD (Advanced Vapor Devices), a leading vertically integrated manufacturer and distributor of cannabis vaporizer technology, today announced the appointment of seasoned cannabis leader Doug Fischer as General Counsel. His addition will enhance AVD’s capabilities to offer greater client support and proactively lead industry regulatory matters. In this new role, Fischer will work alongside AVD’s leadership team to be a resource for the company’s clients, collaborate with

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MyMD Pharmaceuticals® and Charles River Present Positive Data for Next Generation, Oral TNF-α Inhibitor MYMD-1® in Rheumatoid Arthritis

March 20, 2023

BALTIMORE–(BUSINESS WIRE)–MyMD Pharmaceuticals, Inc.® (Nasdaq: MYMD) (“MyMD” or “the Company”), a clinical stage biopharmaceutical company developing groundbreaking therapies for the treatment of serious and debilitating autoimmune and inflammatory diseases, is presenting data from a preclinical study of investigational, oral TNF-α inhibitor MYMD-1® at the 2023 Society of Toxicology Annual Meeting (SOT) in Nashville, TN. Study results comparing MYMD-1 to placebo were very highly significant a

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High Tide Reports Second Consecutive Quarter of Record Revenue and Adjusted EBITDA; $118 Million and $5.5 Million, Respectively

March 17, 2023

CALGARY, Alberta–(BUSINESS WIRE)–High Tide Inc. (“High Tide” or the “Company”) (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, released today its financial results for the first fiscal quarter of 2023 ended January 31, 2023, the highlights of which are included in this news release. The full set of consolidated financial statements for the three months ended January 31, 2023, and the acco

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HEXO Reports Q2’23 Financial Results

March 16, 2023

GATINEAU, Québec–(BUSINESS WIRE)–HEXO Corp. (TSX: HEXO; NASDAQ: HEXO) (“HEXO” or the “Company”), a leading producer of high-quality cannabis products, today reported its financial results for the second quarter of the 2023 fiscal year (“Q2’23”). All currency amounts are stated in Canadian dollars unless otherwise noted. “HEXO held firm to our long-term strategy this quarter and remained focused on our most profitable brands and maintaining fair prices,” said Charlie Bowman, President and Chie

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WM Technology, Inc. Reports Fourth Quarter and Full Year 2022 Financial Results

March 16, 2023

IRVINE, Calif.–(BUSINESS WIRE)—- $MAPS #CANNABIS–WM Technology, Inc. (“WM Technology” or the “Company”) (Nasdaq: MAPS), a leading technology and technology solutions provider to the cannabis industry, today announced its financial results for the fourth quarter ending December 31, 2022. “Our fourth quarter results, consistent with our prior guidance, reflect both the continued importance of WM Technology to our clients and users as well as the challenging operating environment that exists today in cannabis,” s

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