NTEC and GNLN are being investigated for claims related to the proposed mergers of the individual companies
Welcome back to our weekly series, Schaeffer’s Cannabis Stock News UpdateHere we round up what happened in the world of marijuana stocks last week and look ahead to how the cannabis industry will develop in 2021.
Investor interest in the cannabis industry is growing at an explosive rate of growth, and leading players continue to break legal barriers after legal barriers, particularly in the US. By the end of 2020, more than 40 US states had legalized recreational and / or medical marijuana. Now, more and more companies are seeing the possibility of growing, marketing, distributing, and technology cannabis.
New York State Legislature passed a Recreational cannabis legalization bill Sales this week. Governor Andrew Cuomo signed the cannabis legislation on Wednesday March 31st. This makes New York the 15th state to legalize recreational use. According to the New York Times, some provisions of the law will take effect immediately, while others will take up to 18 months.
Here’s a quick recap of this week’s top cannabis stock news:
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP), a clinical-stage drug development company pioneering transformative drugs targeting the endocannabinoid system, announced on March 30, that the final subject completed the final visit to the double-blind, placebo-controlled portion of Corbus Pharmaceuticals’ Phase 3 DETERMINE trial of Lenabasum for the treatment of dermatomyositis.
FSD Pharma Inc. (NASDAQ: HUGE) announced On March 31, the company filed a motion with the Ontario Supreme Court for a court order to hold the FSD’s annual general and special meeting scheduled for May 14.
Greenlane Holdings, Inc. (NASDAQ: GNLN) and KushCo Holdings, Inc. announced On March 31st, they signed a definitive merger agreement whereby KushCo will become a wholly-owned subsidiary of Greenlane. WeissLaw LLP is currently Do some research potential fiduciary violations and other violations of law by Greenlane’s board of directors in connection with the company’s proposed merger with KushCo Holdings, Inc.
Innovative Industrial Properties, Inc. (NYSE: IIPR) announced on March 29th that a dividend of $ 1.32 will be paid to shareholders of record on March 31st on April 15th. This dividend payout represents an increase of 6.45% over the last dividend payment from IIPR.
Monteverde & Associates PC, a national investment firm, is Do some research Intec Pharma Ltd. (NASDAQ: NTEC) in connection with the proposed merger with Decoy Biosystems. Under the terms of the agreement, NTEC shareholders will own 25% of the combined company.
Organigram Holdings Inc. (NASDAQ: OGI), a leading cannabis producer, announced The launch of two new recreational products on March 30th: Indi, one of the only Canadian cannabis brands exclusively dedicated to Indica strains, and Edison Cannabis Co.