News from: High Times, Missouri, Illinois, Alaska, and more.
The Daily Hit is a recap of the top financial news stories for Monday, May 6, 2024.
On the Site
High Times assets to be sold to the highest bidders
If the assets do not receive acceptable offers by May 17, they will be placed on the auction block and sold to the highest bidder.
Missouri judge upholds stacked local taxes on dispensaries
St. Louis County Circuit Judge Brian May found that both the city and county taxes are valid.
Illinois adds 35 more social equity licenses to adult-use market
Winners will have one year to complete build-outs and receive final approval, but they can request an extension.
Medical cannabis registries in New Jersey, New Mexico fall as recreational sales ramp up
Patient registries in both states have fallen more than 20% since their adult-use markets launched two years ago.
Alaska man will serve two years in prison for failed cannabis theme park scheme
At least 22 investors were misled into putting up hundreds of thousands of dollars.
In Other News
PRODUCT RECALL: Arizona
The Arizona Department of Health Services says The Flower Shop’s Onion Bhaji, batch number OBHA111423, is being recalled after testing positive for Aspergillus. As of May 6, no illnesses have been reported.
Delaware
The Delaware Office of the Marijuana Commissioner released proposed health and safety regulations for the adult-use cannabis industry and is now accepting formal comments on the 52-page document through May 31. Comments must be emailed to OMC@delaware.gov.
City View Green Holdings
City View Green Holdings Inc. (CSE: CVGR) (OTC Pink: CVGRF), a Canadian-based cannabis-infused edibles manufacturing company, received approval from the Canadian Securities Exchange to extend its non-brokered private placement as previously announced on March 4. City View intends to raise gross proceeds of up to C$1 million through a non-brokered private placement of up to 100 million.
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