The Daily Hit: October 9, 2023

The Daily Hit is a recap of the top financial news stories for Oct. 9, 2023.

On the Site

California Governor Says No to Cannabis Cafes

California Gov. Gavin Newsom vetoed a bill on Friday that sought to permit Amsterdam-style cannabis cafes in the state, despite widespread bipartisan support in both legislative chambers. Newsom’s veto cited potential threats to the state’s smoke-free workplace policies. Read more here.

Georgia Cannabis Landscape Transforms with Entrance of Pharmacies

The medical marijuana business landscape in Georgia is in the midst of a major transformation, from a restrictive market that only allowed 12 dispensaries and two producers into a much broader market that could include hundreds of independent pharmacies. Read more here.

Alaska Regulates Intoxicating Hemp Products

Alaska became the latest state this week to crack down on the burgeoning national hemp goods industry, particularly intoxicating hemp-derived goods many Alaskans have come to call “diet weed.” Read more here.

New York Judge Permits Three More Cannabis Shops to Open Under Injunction

New York state Judge Kevin Bryant on Friday signed off on three new orders that will allow a trio of licensed cannabis retail shops to open in coming weeks, in addition to the two announced earlier that same day, according to court records. Read more here.

Move Over Cannabis, Cocaine Wants to Go Legit

Coca leaves – like many plants – have recognized beneficial qualities. South Americans have long used the plants as a medicinal product, and raw leaves are often sold in stores. Recently a few companies have stepped up to reeducate the public. Read more here.

In Other News

Southern Glazer’s Wine and Spirits

CENTR Brands Corp. (CSE: CNTR) (OTCQB: CNTRF) received notice of termination of the company’s CBD beverage products distribution agreement with Southern Glazer’s Wine and Spirits. This is a result of Southern Glazer’s determination to exit the CBD category in its entirety across the United States. Read more here.

Columbia Care

Workers at a New Jersey cannabis cultivation site have voted to join United Food and Commercial Workers Local 152. Twelve cultivators at the Columbia Care (NEO: CCHW) facility in Vineland, New Jersey, supported union representation through a majority card check last month, leading to the certification of the results by the New Jersey State Board of Mediation on Oct. 6. Read more here.

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