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Global Weed Business: Flora Buys Australian Vaporizers As IM Cannabis Doubles Down On Germany

By Jelena Martinovic
June 5, 1:48 PM
Lifeist Wellness Inc. (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: LFSWF) said on Wednesday the sale of Australian Vaporizers Pty Ltd., its wholly owned Australian subsidiary to Flora Growth Corp. (NASDAQ: FLGC).The sale, first announced in September 2023, was wrapped up through a share purchase agreement, under which Lifeist has sold the issued and outstanding shares of Aussie Vapes to Flora, for roughly CA$900,000 ($658,439). The sum is payable by Flora issuing from treasury to Lifeist 550,000 of its common shares.In the meantime,

CSE:IMCC

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3 minute read

Weed Industry Celebrates Biden’s Rescheduling Move: ‘Most Monumental Cannabis Reform In Half A Century’

By Maureen Meehan
May 16, 3:58 PM
Cannabis companies and advocates applaud President Biden's announcement to reschedule and legalize cannabis, calling it a major leap forward and opportunity to correct long-standing wrongs and improve the industry's cashflow.

ACB

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1 minute read

‘Justice Department Poised To Post Plans For Marijuana Reclassification; This Is The Next Step In The Rescheduling Process Begun By President Joe Biden In October 2022 That Is Set To Be The Largest Shift In Federal Drug Policy In Decades’ – Politico

By Benzinga Newsdesk
May 16, 12:43 PM
https://subscriber.politicopro.com/article/2024/05/justice-department-poised-to-post-plans-for-marijuana-reclassification-00158378The Department of Justice plans to issue a notice of proposed rulemaking on Thursday that

ACB

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2 minute read

IM Cannabis Doubles Down On Germany Following Legalization Policy Change, Reports YoY Drop In Q1 Gross Profit And Revenue

By Jelena Martinovic
May 8, 11:21 AM
IM Cannabis reported a 13% sequential increase in revenue for the three months ended March 31, 2024, hitting CA$10.7 million ($7.8 million). That is, however, a 4% decrease compared to the same quarter of last year.Oren Shuster, the company's CEO, said IM Cannabis will double down on Germany, now that recent approvals from both the German Bundesrat and Bundestag legalized the possession of marijuana.

CSE:IMCC