Pervasip Converts $15M Debt, Moves Toward Profitability With Cannabis Spin-Off
A key aspect of the restructuring is converting over 80% of Pervasip debt into equity in the new cannabis-focused entity.
Canadian Company Lifeist Says Farewell To Cannabis Business Unit, Turns To Nutraceuticals
Canadian wellness company Lifeist has agreed to sell its CannMart cannabis subsidiaries to 1463663 B.C. for $3.72m. The deal, which is expected to improve cash flow and operational costs, will see all shares of the CannMart Group transferred to the buyer. The consideration of $5m plus adjusted inventory will be paid to Lifeist as follows: $500,000 cash will be paid upon the transaction's completion, with a further $4.5m in a senior secured vendor takeback loan paid through monthly repayments. Additionally, Lifeist will receive equity warrants to acquire 9.9% of Tierra Corp's equity, as parent company of 1463663 B.C. Once the deal is finalised, Lifeist will be freed to operate in the nutraceutical sector, with North America's $88.3bn predicted to grow to $118.7bn by 2028, according to the company.
Who’s Who In Cannabis: January Executive Changes You Should Know About
In cannabis sector news Flora Growth Corp. CEO Clifford Starke was elected as chairman of US Hemp Roundtable and Illinois Gov. J.B. Pritzker announces new appointments, including Teresa Ramirez, among other items.
Psilocybin Mushrooms For Sale: Is It Legal Anywhere In America?
Certain fungi species that spontaneously produce psilocybin, a powerful substance that activates the serotonin 5-HT2A receptor in the…
New York’s Weed Disaster, Virginia’s Alcohol Model And Kentucky’s GOP Hurdles, Plus Hawaii And Florida Updates
New York's Cannabis Rollout: A Rocky Start
Marijuana Stock Movers For February 1, 2024
GAINERS: EVIO (OTC:EVIO) shares closed up 9900.00% at $0.0001 Australis Capital (OTC:AUSAF) shares closed up 900.00% at $0.0001…
Cannabis On The NASDAQ? No Problem: A Look At Aurora’s Positive Cash Flow Strategy, Agrify’s Equity Boost
Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), a major cannabis company, is sticking to its previous financial predictions.
Wall Street Waves Goodbye To Weed Testing: How Financial Giants Reshape Job Eligibility In The Cannabis Era
Wall Street banks are leading change by ending cannabis testing for job seekers, signaling a new era in employment practices.
Top Canadian Cannabis Producers Caught In International Controversy Over Imports
Israel's Trade Levies Unit launched an anti-dumping investigation into the import of medical cannabis from Canada, saying it causes injury to the domestic cannabis industry in Israel.
FDA Hosts Public Psychedelics Discussion, Discloses Major Growth On Number Of New Psychiatric Drugs Filings Post-2000
FDA and Reagan-Udall Foundation are hosting a virtual public meeting on psychedelic research titled Advancing Psychedelic Clinical Study Design, which aims to explore empirical approaches to address issues in drug development.