The Daily Hit: March 4, 2024

The Daily Hit is a recap of the top financial news stories for March 4, 2024.

On the Site

Stok’d dodges cannabis ad restrictions with ‘next to’ campaign

Creativity is all about problem-solving, and few problems are as frustrating to cannabis advertisers as being unable to advertise when and where they want. This week, we saw a clever solution to that dilemma from a Canadian cannabis brand. Read more (and check out the campaign) here.

Hemp companies sue New York over industry rules, ‘selective’ enforcement

A group of 10 hemp companies, including both homegrown entrepreneurs and those from across the country, filed a second lawsuit against New York cannabis regulators last week, alleging they’ve lost millions in revenue because of recently adopted industry rules. Read more here.

Get paid $70,000 to smoke marijuana as a job

Rolling paper company Custom Cones USA is looking to pay someone $70,420 a year to smoke weed and write about it on social media. The campaign is an effort to promote the company’s new direct-to-consumer brand, DaySavers. Read more here.

Kentucky sets launch date for medical marijuana sales

The medical marijuana trade in Kentucky will officially launch on New Year’s Day of 2025. But before then, there’s still a lot that the state needs to sort out. Read more here.

Native tribe to open first cannabis shop in North Carolina

North Carolina – one of the few remaining states in the U.S. that has yet to legalize medical or recreational marijuana – is about to get an operational weed store anyway, courtesy of the Eastern Band of Cherokee Indians. Read more here.

Washington lawmakers consider allowing cannabis waste to be used in ‘hempcrete,’ other goods

Washington state lawmakers recently approved a bill to let marijuana companies sell their bio-waste for non-intoxicating commercial purposes, such as “hempcrete,” a slang term for construction bricks made from cannabis fibers. Read more here.

In Other News

Florida Medical Marijuana Trade Association

Pointing to a need for education, a handful of Florida’s medical marijuana operators have formed a trade association designed to “foster a thriving medical marijuana industry.” Members of the new Florida Medical Marijuana Trade Association include some of the state’s largest cannabis companies. Read more here.

Planet 13 Holdings

Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) has commenced an underwritten public offering, with proceeds intended for working capital and general corporate purposes. Read more here.

City View Green Holdings

City View Green Holdings Inc. (CSE: CVGR) (OTC Pink: CVGRF), a Canadian cannabis-infused edibles manufacturing company, intends to raise gross proceeds of up to C$1 million through a non-brokered private placement of up to 100 million units at a price of C$0.01 each. Read more here.

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