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News from: RIV Capital, Washington, D.C., Chicago Atlantic, Ohio and more.
The Daily Hit is a recap of the top financial news stories for Tuesday, October 1, 2024.
On the Site
Riv Capital’s CEO departs ahead of Cansortium merger
David Vautrin has been named Riv Capital’s interim CEO.
DC cannabis coalition files sweeping lawsuit against two dozen illicit marijuana operators
The illicit operators claim to be operating legally as I-71 gifting companies.
Despite high prices, patients happy with Ohio’s medical marijuana program
In 2024, 74% of survey respondents were generally satisfied with the state’s medical cannabis program, up from 62% in 2023.
Chicago Atlantic BDC to begin trading with new LIEN ticker symbol
The deal was originally announced in February and is expected to be immediately accretive.
R&D tax breaks buoy Incannex as losses narrow
The firm said it expects to report data from several ongoing trials in 2024 and 2025.
In Other News
Mood Cannabis
An e-commerce cannabis dispensary has notified the state it is laying off 120 employees in Oklahoma City. Mood Cannabis filed a Worker Adjustment and Retraining Notification (WARN) Act notice with the state on Sept. 20.
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) is partnering with purpose-driven and women-owned medical marijuana brand Black Buddha Cannabis. The collaboration will introduce Black Buddha Cannabis products to Trulieve dispensaries in Arizona and Pennsylvania starting in this month.
California
California Gov. Gavin Newsom vetoed AB 1111, which would have directed the California Department of Cannabis Control to establish a small producer events sales license to authorize small-scale cannabis farmers to sell their own cannabis at temporary, state-licensed, cannabis events.
