Staff
Daily Hit is a recap of the top business stories in the cannabis industry for March 2, 2022.
On the Site
Twitch
Cannabis companies continue to struggle with inconsistent guidelines and the arbitrary enforcement of Terms of Service imposed by social media sites like Facebook Meta and Instagram, but social media marketing is not a platform that any business can afford to overlook. Twitch, an American company operated by Twitch Interactive and a subsidiary of Amazon.com, Inc., (NASDAQ: AMZN) is a live video streaming service that focuses primarily on video games that might just present a viable marketing alternative to more restrictive social media environments. Read more here.
SOTU
President Joe Biden began his first State of the Union Address laying out the numerous ways that he is working to support the people of war-torn Ukraine. He went on to describe his triumphs in turning around the economy post-pandemic and then rattled off several issues that he says need to be dealt with like crime, infrastructure, childcare, opioid abuse, veterans care, even going so far as to cure cancer, but the one element that was sorely lacking from the speech – cannabis. Read more here.
Australis
Long after the market closed on Tuesday, Australis Capital Inc. also knowns as Audacious (CSE: AUSA) (OTC: AUSAF) announced that it had filed its financials and management discussion and analysis for the three-month period ending December 31, 2021, its fiscal third quarter of fiscal 2022 (the year ending March 31, 2022). Audacious reported that it had total revenues of $2.37 million, an increase of 2,623% year-over-year from $90,378 in the third fiscal quarter of 2021 and even grew 4% sequentially. Read more here.
In Other News
Planet 13
Planet 13 Holdings Inc. (OTCQX:PLNHF) and Next Green Wave Holdings Inc. completed the previously announced arrangement under the Business Corporations Act, with Planet 13 acquiring Next Green Wave. The Arrangement was overwhelmingly approved by NGW shareholders in accordance with the requirements of the BCBCA at a special meeting of NGW shareholders held on February 25, 2022, and was subsequently approved by the Supreme Court of British Columbia on March 1, 2022. Read more here.
HYTN
HYTN Innovations Inc. (CSE: HYTN) reported unaudited Q1 financial results for its operating subsidiary, HYTN Beverage Corp., for the quarter ended December 31, 2021. HYTN Beverage generated total sales of $212,581 during Q1. Read more here.
