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Securities Fraud Saga Comes To Close As Former Cannabiz Mobile Consultant Receives Final Judgment

By Jelena Martinovic
February 15, 12:26 PM
Anthony Jay Pignatello has been handed a final judgement by the US Attorney's Office in relation to a cannabis securities fraud scheme at Cannabiz Mobile, where he served as consultant and secretary. Pignatello was alleged to be part of a pump-and-dump scheme with Christopher Esposito, Cannabiz's former owner, whose fraudulent activities had already seen him sentenced to five years' probation in November. Pignatello has been permanently restricted from being an "officer or director of any issuer that has a class of securities registered under Section 12 of the Exchange", as well as permanently banned from participating in penny stocks. He is also obliged to pay $43,337, a fee that has already been deemed settled due to a parallel criminal hearing regarding securities fraud to which Pignatello had already pled guilty.

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Flip Your Pre-Roll: 50-50 Odds It’s Crafted By This Weed Company Dominating Half Of Canada’s Market

By Nicolas Jose Rodriguez
February 15, 9:53 AM
In Canada, there's a 50-50 chance that the pre-roll lighting up your day is made by one company: Decibel. Infused pre-rolls have ignited a fiery growth trend, with Decibel stoking the flames and reigning supreme as the king of pre-rolls.

DBCCF

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Cannabis Retail Giant High Tide Will Distribute Weed Products In Manitoba As North American Footprint Grows

By Jelena Martinovic
February 14, 3:02 PM
High Tide Inc. (NASDAQ: HITI) (TSXV: HITI) (FSE: 2LYA) announced on Tuesday it has signed an agreement with the Manitoba Liquor and Lotteries Corporation (MBLL) through its wholly-owned subsidiary Valiant Distribution Canada. Under the deal, the Canadian cannabis retail agreed to distribute cannabis products to cannabis retailers in Manitoba.In the meantime, according to ATB Capital Markets, High Tide is among the top cannabis retailers in North America with a total of 163 cannabis stores, as per the company's recent post on X (Twitter).

HITI

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Substance Use Disorder Company Narrows Q2 Net Loss, Reports Progress On Cannabinoid Intoxication Drug

By Jelena Martinovic
February 14, 12:37 PM
Substance use disorder-focused biopharmaceutical company Anebulo Pharmaceuticals, Inc. (NASDAQ: ANEB) reported on Tuesday second quarter financial results for the three months ended Dec. 31, 2023, The company's primary focus is on developing therapy for acute cannabinoid intoxication (ACI).Total operating expenses in the second quarter of fiscal 2024 were $2.8 million compared with $3.8 million in the same period in fiscal 2023.Net loss in the second quarter of fiscal 2024 was $2.7 million, or $(0.11) per share, compared with a net loss of $3.8 million, or $(0.15) per share, in the second quarter of fiscal 2023.

ANEB

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Q3 Net Loss Drops Sharply, Revenue Decreases YoY For Michigan Cannabis Co. Agrify

By Jelena Martinovic
February 14, 11:09 AM
Agrify Corporation, a Michigan-based agricultural technology company, has reported a 56% year-over-year decrease in revenue for the third quarter of 2023. The company's revenue for the quarter stood at $3.1 million, down from $7 million in the same period last year. Agrify also reported a net loss of $2.1 million for Q3 2023, compared to a net loss of $57.4 million in the same quarter of 2022. Despite the decrease in revenue, Agrify's chairman and CEO, Raymond Chang, said that the historically low net loss is an encouraging sign that the company is making progress. The company managed to reduce its total operating expenses to $5.6 million in Q3 2023, down from $27.4 million in the same period last year. Agrify also reported gross profit of $1 million for the quarter, compared to a loss of $4.1 million in Q3 2022. As of September 30, 2023, the company had $43 million in total assets and $64.3 million in total liabilities.

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