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Sale Trends Cannabis sales in Michigan hit $984.6 million in 2020. Medical cannabis sales accounted for $474 million for the year, while adult-use sales reached $510.7 million. Rhode Island and the Soboba Band of Luiseno Indians received approvals from the U.S. Department of Agriculture (USDA) for its hemp regulatory proposals. The Christmas and New Year’s holidays marked the single biggest cannabis sales period of 2020. The period between Dec. 18 and Dec. 24 generated roughly $427 million, according to Akerna (NASDAQ:KERN). The largest sale day of the period was Wednesday, Dec. 23, with $87.3 million, making it the third largest cannabis sales of the year, just behind Green Wednesday with $87.4 million. Exceeding all expectations, New Year’s Eve was the single biggest sales day of 2020 with $89.4 million. ....
Vaporizer technologies company The Blinc Group, Inc. announced Thursday the closing of a pre-Series A bridge financing of $1.5 million. The round was led by Equitas Partners Fund, WGD Capital, LP, and 7thirty Capital. Expand the company’s China office to optimize control over the supply chain. Partner with an international lab for material safety research. Expand the sales team across North America. Expand the portfolio of vaping value chain services. “The challenges of 2020 turned out to be the very challenges that helped the Blinc Group to thrive. Our dedication to the highest standards of safety, quality and a rigorous supply chain were what set up apart during the 2019 vaping criss and the pitfalls created by the COVID-19 pandemic, Dumas de Rauly told Benzinga. We have shown our clients, investors, and the industry that a company that puts consumers first is the one that s going to succeed.” ....