In a surprising move, Akerna (NASDAQ:KERN), the enterprise software company that developed programs to help the cannabis industry, has confirmed that it will sell its software business to POSaBIT Systems (CSE:PBIT,OTCQX:POSAF), prompting bitcoin. It plans to merge with Minor. .
Another cannabis trader in Canada has found itself warned by major exchanges due to low trading numbers.
Keep reading to find out more cannabis highlights from the past five days.
Cannabis Software Company Shares New Strategy
Akerna has established itself as a company that integrates technology and the cannabis industry. But now the company seems to be heading in the direction of digital currency.
Software company on Friday (January 27) Confirmed by Investor The merger with bitcoin miner Gryphon Digital Mining, the company said it hopes will bring investors “access to the bitcoin mining industry, one of the leading operators.”
At the same time, the company sold the following cannabis assets to POSaBIT: MJ Freeway, which includes the MJ Platform and Reef Data Systems brands, and Ampoule Organics.
The sale is expected to bring Akerna US$4 million in cash. This will be used to pay “the remaining principal balance of the outstanding senior convertible debentures, less the remaining outstanding accounts payable payments and $500,000 held for outstanding debt.” cash requirements related to the proposed merger between Gryphon.”
Akerna shares plunged during Friday’s trading session. As of nearly 2:30 pm EST, the company is trading at his US$1.29 price, representing a 27.53% decline in value.
Canadian producer gets warning from exchange
Organigram Holdings (NASDAQ:OGI, TSX:OGI) informed investor Due to its low valuation, it had been notified by NASDAQ of its listing status.
The company’s shares have traded below US$1 for 30 consecutive days, forcing the exchange to remind the company of its rules.
The notice does not immediately affect Organigram’s trading, but the company has until July 24, 2023 to regain compliance.
The company is eligible for an additional period of 180 trading days to restore compliance with NASDAQ if it fails to deliver beyond its current deadline.
The notice is a reminder to cannabis investors of a recent case faced by fellow operator HEXO (NASDAQ:HEXO, TSX:HEXO).
In fact, just last week, HEXO confirmed that it has regained compliance within the rules on the list.
cannabis company news
- Air Wellness (CSE:AYR.A,OTCQX:AYRWF)Finished The proposed acquisition of shares in Gentle Ventures, which oversees Dispensary 33. We agree with the mutual decision to terminate the proposed arrangement,” said David Goubert, President of Ayr.
- Village Farms International (NASDAQ:VFF)Safe An investment transaction valued at US$25 million with an offering of more than 18 million shares with undisclosed “certain institutional investors”.
- Marimed (CSE:MRMD,OTCQX:MRMD)notification The investors have entered into a $35 million secured line of credit with Chicago Atlantic Advisors, the primary lender of the agreement. MariMed President and Interim CEO Jon Levine said: , Said.
- Agrify (NASDAQ:AGFY)share Together with our investors, we plan to measure cost efficiency in line with our new future growth strategy. Raymond Chang, chairman and CEO of Agrify, said:
don’t forget to follow us @INN_ cannabis For real time news updates!
Stock Disclosure: I, Bryan McGovern, do not make direct investments in the companies mentioned in this article.