SweetWater Brewing Company, LLC, a subsidiary of Tilray Brands, Inc. (NASDAQ: TLRY) (TSX:TLRY), announced its fall craft-beer lineup, which includes its new H.A.Z.Y. Double IPA and the return of its Mosaic Single Hop Hazy IPA. Starting this October, SweetWater’s fall beers will be available in select markets across the U.S.
The new H.A.Z.Y. Double IPA (8.5% alcohol by volume (ABV)) is a tropical, double dry-hopped American imperial IPA. H.A.Z.Y. Double IPA will be available in single 19.2-oz cans and 12-oz cans in SweetWater’s fall IPA variety pack.
“Our H.A.Z.Y. IPA has been so popular, it just made sense to brew a bigger version of it. We loaded it with hops, dialed up the ABV, and put it in our 19.2-oz stovepipe cans. It’s everything a hazy …Full story available on Benzinga.com
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) is divesting its retail business across Canada, including the stores operating under the Tweed and Tokyo Smoke retail banners.
Under the agreement with the Canadian cannabis giant, OEG Retail Cannabis, an existing Canopy Growth licensee partner that currently owns and operates Tokyo Smoke stores in Ontario, opted to acquire Canopy's 23 Tokyo Smoke and Tweed store locations across Manitoba, Saskatchewan, and Newfoundland and Labrador.
Moreover, Canopy reached an agreement with 420 Investments Ltd., pursuant to which FOUR20 agreed to acquire the ownership of five retail locations in Alberta.
In addition, the Smiths Falls, Ontario-based company also terminated a licensing agreement in Ontario for …Full story available on Benzinga.com
Developmental-stage biopharma company Silo Pharma Inc. (NASDAQ: SILO) announced the pricing of an underwritten public offering of 1,000,000 shares of its common stock at $5.00 per share, to begin trading on NASDAQ on Tuesday, September 27, 2022 under trading symbol “SILO.”
Silo’s work focuses on merging traditional therapeutics with psychedelic research for the treatment of PTSD, Alzheimer’s and …Full story available on Benzinga.com
In parallel with working towards discovering and advancing therapeutic psychedelics, biopharma companies are continuously protecting their findings. The emerging biotech BetterLife Pharma Inc. (OTCQB: BETRF) has filed an international PCT along with a U.S. patent application for the composition and use within the treatment of LSD derivatives for mental health conditions such as depression, PTSD, anxiety, cluster headaches and pain.
One of BetterLife’s main compounds under development, BETR-001, will be covered by these patent filings. The proprietary drug is a new composition of 2-bromo-LSD and a second-gen LSD derivative molecule …Full story available on Benzinga.com
An analysis of financial filings by Green Market Report showed that ten publicly traded multistate cannabis companies are carrying over $500 million in federal tax debts.
The Multi-state operators (MSOs) are Acreage Holdings Inc. (OTC: ACRDF), Ascend Wellness Inc. (OTCQX: AAWH) (CSE: AAWH.U), Ayr Wellness Inc. (CSE: AYR.A) (OTCQX: AYRWF), Cresco Labs Inc. (OTCMKTS: CRLBF), Columbia Care Inc. (OTCMKTS: CCHWF), Curaleaf Holding Inc. (CSE: CURA) (OTCQX: CURLF), Green Thumb Industries Inc. (OTCQX: GTBIF) (CSE: GTII), TerrAscend Corp. (OTCQX: TRSSF) (CSE: TER), Trulieve Cannabis Corp. (OTCQX: TCNNF) (CSE: TRUL), and Verano Holdings (CSE: VRNO) (OTCQX: VRNOF).
How Much Do The MSOs Own?
All told, the MSOs mentioned above “owe the Internal Revenue Service an eye-popping $507,193,000, according to their second quarter financial reports,” reported Green Market Report.
Image by Green Market Report
Additionally, Curaleaf and Verano, combined, owe the IRS $286 million. Both hold most of the tax debt. Verano Holdings owes $161.4 million, has $92.8 million cash on hand, thus, 78% more in taxes than the company had cash at the end of its second quarter.
“If the companies were forced to fully pay their federal tax bills, only one of the 10 – Green Thumb Industries – would have more than 10 months' worth of cash left with which to continue operating,” reads the report.
Do The MSOs Plan To Pay Their Debt? If So, When And How?
“Part of our capital allocation strategy is to lengthen our tax payment cadence,” Verano's CEO George Archos recently told shareholders in an earnings call. “The strategy is not unique to Verano and has been …Full story available on Benzinga.com
Biomind Labs (OTC:BMNDF) shares closed up 11.10% at $1.10
Allied (OTC:ALID) shares closed up 9.92% at $0.65
ATAI Life Sciences (NASDAQ:ATAI) shares closed up 7.96% at $3.39
GH Research (NASDAQ:GHRS) shares …Full story available on Benzinga.com
HEXO (NASDAQ:HEXO) shares closed up 5.57% at $0.18
Canopy Gwth (NASDAQ:CGC) shares closed up 4.38% at $2.86
Aurora Cannabis (NASDAQ:ACB) shares closed up 4.31% at $1.21
Through its wholly-owned subsidiary, Cybin IRL Limited, Canadian-based psychedelics biotech Cybin Inc. (NYSE AMERICAN: CYBN) signed an agreement with next-gen psychedelics producer Mindset Pharma Inc. (OTCQB: MSSTF) for an exclusive intellectual property license related to preclinical compounds within the latter’s Family 1 proprietary class of tryptamine-based molecules, excluding Mindset’s lead drug candidate MSP-1014.
The license purchase fee was set at $500,000, with additional milestones payable upon achieving certain milestones, and will provide Cybin access to a catalog of molecules –both chemistry and properties- complementing its current preclinical drug candidates library.
The agreement is expected to expand Cybin’s R&D platform, providing a runway and pipeline of future drug candidates while further broadening the space where the company has protected access to patent-eligible molecules …Full story available on Benzinga.com
Atai Life Sciences' (NASDAQ: ATAI) wholly-owned subsidiary EmpathBio has received Medsafe central regulatory and the Health and Disability Ethics Committees (HDEC) approvals to begin participant enrollment in its Phase 1 trial of proprietary MDMA-based drug EMP-01, designed to treat PTSD and other mental health conditions.
The randomized, double-blind, placebo-controlled study intends to evaluate the safety and tolerability of single-ascending oral doses of EMP-01 in 32 healthy adult participants, as well as to assess the usability and acceptability of the IDEA-1 app in delivering “set and setting” content to participants in preparation for the drug administration.
The research, of which results are expected by the second half of 2023, will include a range of behavioral assessments that, together with the pharmacokinetics and safety …Full story available on Benzinga.com
Life and sciences R&D company Biomind Labs Inc. (OTC: BMNDF) received a Controlled Substances License to begin an eight-month exclusive collaboration with Queen’s University of Belfast to produce and evaluate rapidly-dissolving and sustained-release hydrogel-forming microneedle arrays designed for the transdermal delivery of its proprietary DMT, 5-MeO-DMT and mescaline.
Biomind Labs recently announced the completion of the dosage stage of its Phase 2 clinical trial on a DMT-based compound for the Treatment-Resistant Depression disorder, while it is additionally undergoing clinical research of ayahuasca for the treatment of that same condition.
Through its acceleration platform, Biomind aims to …Full story available on Benzinga.com