The chairman of Lifeist Wellness recently communicated with shareholders regarding the decision to divest from CannMart Inc. through a sale to Simply Solventless Concentrates Ltd. This move was attributed to the financial challenges posed by the regulatory environment for Canadian public cannabis companies, making it difficult for companies in this sector to achieve profitability.
For more information on this development, please refer to the official announcement.
Weekly updates in the cannabis industry include PharmaDrug’s Sairiyo Therapuetics strategic plans, Avicanna’s U.S. patent and trademark approval, and Canopy Growth’s launch of Wana Brands marketplace.
Additionally, the top-performing cannabis stocks from August 23 to August 29, 2024, were Tilray Brands Inc., Canopy Growth Corp, Curaleaf Holdings Inc., Medipharm Labs Corp., and Nextleaf Solutions Ltd.
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