Startups

Safe Harbor Financial SPAC Deal Likely to Close Today

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The Northern Lights Acquisition Corp. (NASDAQ: NLIT), a special purpose acquisition corporation, rescheduled its special meeting of stockholders to Monday, June 27, 2022 at 4:00 pm ET. The vote was originally planned for June 24 in order to approve Safe Harbor Financial as the qualifying transaction for the SPAC. The deal is valued at $185 million or 9.1x 2023 EV/EBITDA vs. 9.7x …

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High Times Retails Out LGBTQ Labels

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High Times has sold its LGBTQ publications to Equal Entertainment for an undisclosed amount. The publications include Out.com/ Magazine, Advocate.com/ Magazine, Out Traveler Magazine, Plus Magazine, and Pride.com and given a new name for the company Equal Pride. According to the press release, “The acquisition returns the company to LBGTQ+ majority ownership and creates the largest LGBTQ+ – owned media, …

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Pennsylvania: Vapes Trading Back In Town

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Cannabis companies are cheering a court ruling that will allow the sale of vape products in the state again. Yesterday a Commonwealth Court judge ruled that Pennsylvania medical marijuana companies could resume selling vapes that were taken off the shelves in February in a controversial recall. Earlier this year, the state regulators published a list of over 500 vape …

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Brazil Supreme Court Suggests Citizens Can Now Grow Medical Cannabis

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The Sixth Panel of the Superior Court of Justice of Brazil authorized three people to grow marijuana for medicinal purposes, reported O Antagonista. “The Superior Court of Justice decided Tuesday, June 14 to grant two safe conducts that advance the regulation of artisanal marijuana cultivation in Brazil.” Why it matters? The case should serve as a precedent …

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Cantourage Clinic Offers Discounts for Armed Forces Veterans

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Cantourage Clinic is hoping to improve access to cannabinoid therapies for members of the Armed Forces community, after committing to the Armed Forces Covenant.  The CQC-registered clinic, which launched in the UK this year, is now offering a permanent 10 per cent discount on consultations for veterans and their direct family members. This is in addition …

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Can Cannabis Help You Make a Responsible Person?

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Cannabis use was associated with a higher level of prosocial behaviours and empathy for others. A new study suggests that consuming cannabis may actually make you a nicer person – and could have wider societal benefits.  A recent study, led by researchers at the The University of New Mexico, showed that healthy young adults who had recently …

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Ontario Cannabis Store Data Leak Raises Reliability, Safety Concerns

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The credibility of the government-run Ontario Cannabis Store is at stake after sensitive industry data was misappropriated and leaked, according to experts. The Ontario Provincial Police (OPP) confirmed it opened an investigation earlier this month into what the OCS alleges is the theft of the business data. The data includes individual cannabis retailers’ sales, their inventory levels and …

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Marijuana Franchises Distributors Observe Sluggish Revenue Trends, First Quarter Strikes Losses

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Most of the largest U.S. marijuana multistate operators experienced revenue declines in the first quarter of 2022 versus the previous three months, reflecting seasonal factors, declining cannabis prices and inflationary pressures that could be curbing consumer spending. Of the 12 largest MSOs, only Illinois-based Green Thumb Industries posted a net profit for the first three …

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