The Daily Hit: August 21, 2024

The Daily Hit is a recap of the top financial news stories for Wednesday, August 21, 2024.

On the Site

Massachusetts social equity fund tops $27 million

A new new round of grant funding is being planned, but no dates or details are available yet.

Read more here.

New York cultivators have a year to submit a sustainability plan

The state will help farmers by providing a free online tool.

Read more here.

Algernon Pharmaceuticals closes private placement

Algernon is progressing in its study of DMT for stroke victims.

Read more here.

Credit markets for marijuana companies ‘come back to life’

While debt remains high for many cannabis companies, Viridian’s analysts say most are not at risk of default.

Read more here.

In Other News

Rhode Island

Rhode Island’s marijuana regulator asked a federal judge to toss a challenge brought by a Florida resident alleging the state’s scheme for awarding retail cannabis licenses is unconstitutional, saying that process hasn’t even been established yet.

Read more here.

Pleasantrees

Praetorian Global and Michigan-based Pleasantrees entered into a definitive licensing agreement to produce and sell Binske products throughout Michigan beginning later this year.