Jelena Martinovic

Poseidon Investment Management announced on Wednesday that it has completed two investments into two New Jersey dispensaries, BLKBRN and Dogwood Green. Both businesses are focused on serving both patients and recreational cannabis consumers when they open in 2025."With these two investments, we are allocating to retail in special situations, driving outsized sales with a focus on profitability, increasing the probability of success for founders, and generating faster returns for our investors," Poseidon Managing Director Patrick Rea said.

Cannabis products company PharmaCielo Ltd. (TSXV: PCLO) (OTC: PCLOF) announced on Monday financial and operational results for the three and nine months ended Sept. 30, 2024. The Toronto-based company said revenue for the third quarter totaled CA$1.3 million ($927,772), up from CA$352,000 in the prior year's period. For the nine months, total revenues reached CA$2.4 million, compared to CA$1.3 million in 2023. "PharmaCielo achieved substantial revenue growth, successfully expanded into new international markets, and continued its focus on reducing costs to improve its operational efficiency," Marc Lustig, chairman and CEO of PharmaCielo, said. "Our strategic position in multiple regions, coupled with an expanding product portfolio beyond CBD isolate, has enhanced our ability to serve diverse international markets and generate increased revenue."

Cannabis retailer Tokyo Smoke has finished its restructuring process and is no longer under financial protection, following a court's approval. The Canadian company first announced that it started restructuring its business in August, obtaining an initial order under the Companies Creditors Arrangement Act (CCAA) from the Ontario Superior Court of Justice in Canada. In Sept. the company entered a share subscription agreement with TS Investments Corp., its parent company. Under the deal, TS Investments agreed to subscribe to all of the issued and outstanding shares of Tokyo Smoke. That deal was valued at roughly $56.7 million (CA$77 million).

RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) reported on Friday its third quarter results for the three months ended Sept. 30, revealing a 28% sequential and 186% increase year-over-year in net revenue to $4.9 million.Out of that sum, retail revenue accounted for $3.4 million, up from $1.5 million in the third quarter, reflecting strong growth from adult-use dispensaries in New York. Wholesale revenue surged to $1.6 million, up from $0.3 million over the same period, the company said in a press release.

Vertically integrated cannabis company C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) announced on Tuesday it will repurchase roughly 5% of its issued and outstanding common shares in order to cancel it.The Canadian cannabis company may buy up to 6,002,390 of its common shares under a normal course issuer bid and cancel them upon their purchase. Vertically integrated cannabis company C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) announced on Tuesday it will repurchase roughly 5% of its issued and outstanding common shares in order to cancel it. What Happened The Canadian cannabis company may buy up to 6,002,390 of its common shares under a normal course issuer bid and cancel them upon their purchase. The buyback program will run for a year, starting Monday, Dec. 2, 2024, using cash on hand for purchases.

Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (OTCQB: GWAYF) reported on Wednesday its second-quarter interim financial statements for the three months ended Sept. 30, 2024. Canadian cultivator of high-quality greenhouse cannabis reported a 52% year-over-year increase in revenue to CA$1.8 million ($1.3 million). Moreover, for the first half of the fiscal year, Greenway's net revenue increased by 78% compared to the same period in 2023.CEO Jamie D'Alimonte highlighted the company's revenue growth, product performance and ongoing commitment to quality cannabis production in a press release issued Wednesday.

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), announced on Tuesday developments in cannabis science from Aurora's research and genetics facility, Aurora Coast."As a company committed to leading the way in terms of cannabis innovation, we are dedicated to putting patients first by harnessing the innovative solutions developed by our top researchers at Aurora Coast, our unique global research facility," Lana Culley, vice president of science and innovation at Aurora. "We strive to continuously raise the bar on product superiority and overall user experience so that we can deliver on our mission of providing patients with access to the very best medical cannabis."

Decibel Cannabis Company Inc. (TSXV: DB) (OTCQB: DBCCF) has completed the second and final closing of its previously announced non-brokered private placement of its common shares at $0.06 per common share. The company said on Monday that, at the second closing of the offering, it issued 19,647,776 common shares for gross proceeds of roughly $1,178,867. The second closing was in addition to the previously announced first closing in November when Decibel issued 33,503,864 common shares for gross proceeds of approximately $2,010,232.

Cannabis company Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) is launching the award-winning California-grown Claybourne brand in Canada, via an exclusive licensing agreement. Canadian medical cannabis company Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) revealed its latest lineup of innovations from Greybeard, San Rafael '71 and Tasty's brands for Canadian consumers.Cannabis producer and retailer The Cannabist Company (Cboe CA: CBST) (OTCQX: CBSTF) (FSE: 3LP) announced on Wednesday the launch of its partnership with Veda Warrior, a New Jersey-based minority woman-owned Ayurvedic wellness brand.

Two Manhattan hemp stores are given a green light from a state Supreme Court judge to remove "illicit cannabis" signs placed on the storefronts by cannabis regulators following raids, reported Times Union. The temporary restraining order signed by Arthur F. Engoron, a judge of the Supreme Court 1st Judicial District in New York, suggests questions around the legality of the tactics used by state regulators and the New York City Sheriff's Office in their enforcement efforts have been raised. Dozens of hemp store owners are already fighting their respective court battles, after their shops got raided, with products seized and "illicit cannabis seized" signs placed on their storefronts without any hearings. They argue signs label their businesses as criminal without due process while creating significant reputational and financial harm.