The Daily Hit: November 23, 2022 - Green Market Report | Florida Dispensaries

The Daily Hit: November 23, 2022 – Green Market Report

The Daily Hit is a recap of cannabis business news for Nov. 23, 2022.

Statehouse

In the wee hours of the morning StateHouse Holdings Inc. (CSE: STHZ) (OTCQX: STHZF) released its financial results for the third quarter ending September 30, 2022, and provided additional business updates. Statehouse reported that its revenues increased 77% to $30.8 million versus last year’s revenue of $17.5 million. Statehouse also said in its statement that it is exploring the potential sale of various non-core assets, which could bring in roughly $5-8 million of non-dilutive capital to strengthen the balance sheet and fund its growth objectives. Read more here.

FDA Warning Letters

On Monday, the FDA issued Warning Letters to five companies that produce products with CBD (cannabidiol) and specifically zeroed in on products that would appeal to children. The FDA noted in some of the letters that it was concerned about Delta-8 THC products that may be consumed by children, as some packaging and labeling may appeal to children. 11-11-11 Brands, Naturally Infused LLC, Newhere Inc., Infusionz LLC, and CBD American Shaman LLC were all issued letters. Read more here.

Ascend Board

Cannabis investment veteran Emily Paxhia has resigned from her post as board member of Ascend Wellness Holdings (CSE:

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