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Meet the lawmakers, regulators, executives, and investors shaping the future of New York s cannabis industry.
New York legalized cannabis on March 31 and sales are expected to start in 2022.
New York legalized cannabis for adults over the age of 21 in March, setting off a gold rush for companies looking to take advantage of the potentially $7 billion market in the US s financial capital.
Right now, there are only ten cannabis licenses in the state s medical market, and the companies that own each license will look to quickly transition from New York s relatively limited medical market to the recreational market.
A bad delivery experience can send shoppers back to the illegal market.
Cantor Fitzgerald analyst Pablo Zuanic said in a Tuesday note that he expects key parts of the SAFE Act to end up in a more comprehensive cannabis reform bill being crafted by Senate Majority Leader Chuck Schumer, rather than be introduced as a standalone piece of legislation.
If that bill passes, it would catalyze a wave of M&A in the US, driven by well-capitalized Canadian companies, Zuanic said.
Atai Life Sciences, the psychedelics giant backed by big-name investors like Peter Thiel, is going public. The company said in an S-1 filing submitted this week that it plans to trade on the Nasdaq under the symbol ATAI. We pored over the psychedelic giant s 373-page filing to find the key takeaways.
Has the Canadian cannabis bubble popped again?
Investors poured into pot stocks this week, fueled by fervent social media posts and optimism that the drug would become legal in the U.S. sometime this year. Cannabis companies - large and small, American or Canadian, profitable or perennial losers - all recorded significant gains over the past month.
However, many of those names came back to earth on Thursday, potentially spelling an end to the early-2021 run. Nanaimo, B.C.-based Tilray Inc. plummeted 50 per cent to close at US$32.16. Meanwhile, Aphria led the TSX laggards with a nearly-36-per-cent drop. Hexo Corp., Aurora Cannabis Inc., Cronos Group Inc., and Canopy Growth Corp. all fell more than 20 per cent on the day.
Skylight Health Announces 75% Voluntary Share Lock-Up With 100% Lock-Up from Insiders
Skylight Health Announces 75% Voluntary Share Lock-Up With 100% Lock-Up from Insiders
TORONTO, Jan. 12, 2021 Skylight Health Group Inc. (TSXV:SHG; OTCQX: SHGFF) (“Skylight Health” or the “Company”), announced today that 75% of investors who participated in the $0.15 financing, which closed September 25, 2020, have agreed to a voluntary lock-up, extending the hold period to March 31, 2021. 100% of insiders, including Merida Capital Partners, that participated in this round of financing have agreed to the same lock-up terms. These shares were previously subject to a free-trade date of January 25, 2021. This lock-up covers approximately 26,250,000 of the 35,000,000 shares issued, representing 75% of the shares issued.