The Daily Hit is a recap of the top financial news stories for Thursday, Sept. 12, 2024.
On the Site
New Jersey moves intoxicating hemp goods into marijuana regulatory scheme
New Jersey Gov. Phil Murphy on Thursday signed into law a new bill that forces intoxicating hemp goods into the same regulatory system under which state-legal marijuana companies labor, and also requires retailers to cease selling all such hemp goods until they’ve received formal approval from marijuana officials. Read more here.
Former California cannabis regulator sues ex-bosses, alleging whistleblower retaliation
A former staffer at the main cannabis regulator in California who was in charge of overseeing testing labs filed suit in state court on Monday against her ex-employer, alleging she was wrongfully terminated in January after pushing for action on reports of serious business violations. Read more here.
Planet 13 to acquire Las Vegas dispensary, expanding Nevada footprint
Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) announced plans to acquire a Las Vegas dispensary for $6.9 million plus inventory value, extending its reach in the Silver State. Read more here.
Boies legal team takes next step in commerce case
A federal lawsuit brought by several marijuana companies hoping to overturn cannabis prohibition through the courts is back in play. Read more here.
Green Thumb nabs ‘first-of-its-kind’ $150 million credit facility
Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) said it has closed on a $150 million syndicated credit facility, according to a news release Thursday. Read more here.
Direct-to-consumer sales bill for California craft farmers awaiting governor’s signature
Several cannabis activist organizations held an online webinar Tuesday in the hopes of ramping up a pressure campaign on Gov. Gavin Newsom, to convince him to sign a bill approved by the legislature in late August that would grant a new path to market for small marijuana farmers. Read more here.
In Other News
Pennsylvania
Former owners of a medical marijuana company owe their former partner $24.5 million, a judge has rules. Read more here.
Indiana
The Democratic candidate for governor has pledged to legalize first medical and then recreational marijuana. Read more here.
North Dakota
A ballot measure to legalize adult-use marijuana in North Dakota is facing new opposition, from the state’s Catholic Bishops. Read more here.
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