The Daily Hit: May 29, 2024

The Daily Hit is a recap of the top financial news stories for Wednesday, May 29, 2024.

On the Site

Delaware axes ‘qualifying conditions’ for medical cannabis

The measure also allows seniors over the age of 65 to self-certify as medical marijuana patients and adds reciprocity.

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Raw Rolling Papers parent company sues to destroy ‘Juicy’ branded marijuana goods

The suit asserts that J&C Corp.’s sales have willfully usurped BBK Tobacco & Foods’ legally trademarked brand.

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Illinois cannabis legislation falls apart at the last minute – again

Two bills that passed the state Senate late last week never made it to a vote in the House of Representatives.

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Decibel Cannabis reports falling revenue due to increased competition

Decibel said its responding to consumer trends in vapes by launching a large format 510 cartridge.

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Vext Science pins hopes on Ohio market

Vext said medical sales slipped in Ohio as consumers prepare to switch to adult-use products.

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In Other News

Ascend Cannabis

Budtenders and shift leads at Ascend Cannabis in Maryland have voted overwhelmingly to join Teamsters Local 570. The workers are the first in the state to join the Teamsters Union.

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IM Cannabis

IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) closed a non-brokered private placement of secured convertible debentures of the company for aggregate proceeds of $2,091,977. The debentures are being issued to holders of short-term loans and obligations owed by the company or its wholly owned subsidiaries.

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New York

Starting June 1, New York State will be offering a tax reduction on the cultivator side of cannabis. This will make the tax on cannabis no longer based on the potency of the THC.

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