It’s time on your Every day Hit of cannabis monetary information for April 1, 2021.
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New Mexico is one step away from turning into the seventeenth state to legalize cannabis for grownup use and the fourth state to undertake a legalization coverage by passing a invoice via its state legislature. The final cease is Democratic Governor Michelle Lujan Grisham’s desk for signing. New Mexico follows New York state, which additionally took this path to full legalization. Illinois and Vermont selected the legislator path whereas 13 different states have legalized by voter initiative.
Members of the New Mexico Home and Senate gave their closing approval on Wednesday to 2 separate measures amending the state’s marijuana legal guidelines. The primary legalizes and regulates marijuana possession, manufacturing, and gross sales for adults. The second facilitates the automated assessment and expungement of the information of these convicted of low-level marijuana offenses.
iAnthus Capital Holdings, Inc . (OTCPK: ITHUF) reported its monetary outcomes for the fourth quarter and yr ending December 31, 2020. The corporate delivered income of $46.0 million for the quarter with a web lack of $27.3 million, or a lack of $0.16 per share. For the complete yr, iAnthus delivered income of $151.7 million, up 93.5% from the prior yr with a web lack of $309.8 million, or a lack of $1.81 per share.
Zenabis International Inc. (OTC: ZBISF) introduced its monetary outcomes for the yr and quarter ending December 31, 2020. Zenabis reported that web income for the quarter decreased by 16% sequentially from $19 million within the third quarter to $15 million within the fourth quarter. It was an enchancment over 2019’s fourth-quarter income of $10.9 million. The corporate mentioned the drop was because of decreased wholesale bulk gross sales to some export markets which have been briefly delayed because of regulatory modifications, partially offset by a rise in recreation gross sales.
In Different Information
Agrify Company (Nasdaq:AGFY) reported monetary outcomes for its fourth quarter and yr ended December 31, 2020. Whole income elevated 195.7% to $12.1 million and reported a web lack of $21 million for the yr. Raised roughly $147 million in complete web proceeds from our preliminary public providing and a subsequent secondary providing, together with two over-allotments.
Gage Hashish introduced that the corporate’s subordinate voting shares will start buying and selling on the Canadian Securities Trade below the image “GAGE” on Tuesday, April 6th, 2021. “We’re humbled by all of the assist we have now acquired from our shareholders, clients, strategic companions, and those who have cheered us on from the sidelines in anticipation of our public itemizing,” mentioned Fabian Monaco, CEO of Gage. “As a publicly traded entity, this milestone will enhance our visibility, enable us to draw new traders, enhance our model consciousness, and open doorways to thrilling new enterprise alternatives.”
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