A Canadian health and wellness company is selling off more than 4.7 million common shares at an offering of U.S. $2.65 per share to raise some $12.65 million. Neptune Wellness Solutions, a hemp extractor and product manufacturer based in Laval, Quebec, said Monday in a company statement that it expects to use the net proceeds
Briefs
The Hawaii Legislature has approved a bill that aligns its hemp testing with federal law and joins other states in banning smokable hemp and CBD-infused edibles. Lawmakers sent the bill to Democratic Gov. David Ige on Friday. The bill also prohibits hemp from being processed with 500 feet “of a pre-existing playground, school, state park,
A CBD maker in Canada is part of a labeling lawsuit against more than a dozen Canadian cannabis companies. The lawsuit, filed in Alberta by consumer Lisa Marie Langevin, accuses the companies and their subsidiaries of selling products “with THC or CBD content levels that were drastically different” from what was advertised. Canada allows 15%
Colorado officials who have long since settled how to zone marijuana cultivation to address odor complaints are starting to turn their sights to the hemp industry. Local authorities in Boulder voted this week to limit hemp businesses to three within a 500-foot radius, an attempt to address smell complaints related to the college town’s five
A federal judge has blocked a California farm from being part of a lawsuit filed by an American Indian tribe over local authorities’ seizure of their hemp plants. A judge said in a ruling Tuesday that S.G. Farms “has not shown it had or has had an enforceable interest in any portion of the crop.”
A Canadian hemp company has bought a 5 percent ownership stake in a German hemp company with an outdoor growing operation of more than 1,200 acres. EuroLife Brands, based in Toronto, said it is issuing 500,000 common shares valued at $250,000 and a cash payment of $35,000 for its initial stake in Farmhus GmbH. As
A north Texas town courting a new hemp decortication facility has authorized $2.8 million worth of incentives to lure Panda Biotech to its town. Wichita Falls officials say the potential processing site could draw some $90 million in investment from Panda Biotech and employ up to 50 people, the Wichita Falls Times Record reported. The
A Canadian MJ company planning to start hemp production, Pac Roots Cannabis Corp., has settled a joint venture in British Columbia in time to grow and sell hemp products in 2020. Pac Roots announced the joint venture with privately-held Rock Creek Farms on Tuesday. The new company is called the Outdoor Premium Hemp Joint Venture
Vancouver, British Columbia-based Future Farm Technologies says it has finished its consolidation with High Purity Natural Products, a Southbridge, Massachusetts, company that makes white-label CBD and hand sanitizer. The companies announced their merger Thursday. Future Farm Technologies specializes in indoor marijuana production but plans to grow and process hemp in the United States. The companies said in
A hemp deliveryman charged with drug crimes in South Dakota after a 2019 traffic stop has agreed to fines and probation on related charges even as officials dismissed accusations that the 300 pounds of hemp he was driving to Colorado to Minnesota was illegal marijuana. The driver pleaded guilty last week to ingesting marijuana and
A Colombian company has inked a deal to put its CBD skincare product line on the shelves of hundreds of drug stores across Spain. Khiron Life Sciences reached the deal with cosmetics distributor Red Yellow Red to bring its Kuida CBD product line to 2,350 stores across four distributor groups, according to a statement released
The Hemp Industries Association has named former marijuana activist Jody McGinness as its new executive director. After a months-long search with nearly 100 qualified candidates, the national hemp association selected McGinness, a veteran association executive in the non-profit sector. McGinness last served as the head of fundraising for the Marijuana Policy Project, which advocates for
A county court has ruled against a group of California hemp farmers who wanted to block a local ordinance restricting where the plant can be grown. The Coalition for Agricultural Rights sued San Luis Obispo County after local government officials voted in May to require 2,000-foot setbacks for 400-acre hemp production sites. Cal Coast News
A Denver company that sells a line of CBD sports drinks is suing a Tennessee beverage company for copyright infringement, alleging the Nashville business is selling products with almost identical names as the Denver brand. The June 26 lawsuit from Defy LLC filed in Colorado federal court says Defiance Brands, Inc. is selling a line
U.S. hemp producers have been scraping together a supply chain of processing and retail since 2014, and the work isn’t done. But the industry needs to work together to protect the supply chain even as it’s developing, said Chad Rosen, CEO of Victory Hemp Foods in Kentucky. Talking about the hemp grain market at Hemp
CBD first that captured the attention of cannabis consumers, but other cannabinoids, such as CBG and CBN, may be ready to make a splash soon. That’s according to Blake Patterson, co-founder and CEO of MarketHub Retail Services, who took audience questions during at roundtable Wednesday at the Hemp Industry Daily Conference Direct. “CBD is just the
A Colorado-based CBD company that sold a line of cannabidiol products at Dick’s Sporting Goods stores nationwide has filed for Chapter 11 bankruptcy protection. Myaderm, a company in Englewood, said in its June 28 bankruptcy filing that it owed creditors somewhere between $1 million and $10 million. The company estimated its assets at between $500,000
“Pigs get fat, hogs get slaughtered” – and that’s a good way to think about seeking out large distribution deals for smokable hemp products, according to Jackson Garth, CEO of Verde Leaf Group, an Atlanta-based vertically integrated hemp operator. Garth told entrepreneurs at the Hemp Industry Daily Conference Direct what he meant by that idiom
CBD’s surge in popularity over the last few years was a surprise to the hemp industry, which first envisioned other uses for the plant, including fuel and fiber for textiles, according to a Denver-based attorney. “Laws are shaped by the products and activities we envision,” Andrew Livingston, director of economics and research at the law
The listing economy has job-seekers flooding into the marijuana and hemp sectors looking for work. Savvy operators already in the industry are shifting roles to stay employed and get an edge on the competition. The smartest pivot right now? Moving from cultivation to a sales role, according to industry executives who shared hiring trends at
CBD manufacturers in the U.S. have more to worry about than confusing regulations about how the extract can be legally made and sold. They’ve also got to keep an eye on the court dockets. That’s because plaintiffs’ attorneys are stepping in to challenge CBD companies in an absence of clear rules, according to Jonathan Havens,
The president of the Cannabinoid Industry Association is joining an Atlanta-based hemp company, Verde Leaf, to lead testing and product development for a new subsidiary making CBD products. Priscilla Agoncillo will be board chairwoman and president of Medadex Pharma, a new subsidiary of the privately-held hemp grower and processor. Agoncillo will remain president of CBDIA’s
Officials from the National Credit Union Administration have outlined additional information on serving legal hemp businesses. A letter issued this week points out that hemp-related businesses have also been affected by the COVID-19 pandemic and that it is “important that credit unions stay current with the federal, state and Native American tribal laws and regulations
A Canadian biotechnology hemp company is entering an agreement with a Spanish company to produce and distribute a THC-free, high -CBG variety of the plant in Canada. Ottawa-based Cannabis Orchards’ partnership with Hemp Trading to get the hemp variety, called Panakeia, into the Canadian market comes after “successful distribution” of it in the United States,
Multistate marijuana operator Acreage Holdings is getting $100 million to shore up a hemp-focused subsidiary, part of a restructuring announced Thursday with Canadian marijiana giant Canopy Growth Corp. Canopy announced plans tro acquire Acreage last year. The restructuring includes a loan from Canopy so that Acreage’s hemp subsidiary, called Acreage Hempco, can “participate in the
The United Kingdom has down-scheduled Epidyolex to the lowest level of control for drugs, greatly easing restrictions on the cannabidiol medicine and reducing red tape for companies that supply it. The new classification came into force Wednesday. “This will reduce administrative processes for companies wanting to supply Epidyolex to patients with severe epilepsy,” according to
A measure setting up licenses to posses hemp, not just grow it, awaits the governor’s signature in Georgia. State lawmakers approved legislation that would require a license for possessing hemp, whether it’s cultivating, transporting, or selling the plant. The bill approved Monday now heads to Gov. Brian Kemp for his signature, the Savannah Morning News
Hemp producer Entoura, a privately held, vertically integrated hemp company, has acquired the assets of Atalo Holdings, a hemp producer and CBD manufacturer located in Winchester, Kentucky. Headquartered in New York City, Entoura has facilities in Kentucky, New York, South Carolina, Tennessee and Nevada focused on an institutional-scale supply chain pipeline for hemp and CBD
Health officials in the Czech Republic have allowed a local extraction facility to export full-spectrum hemp-derived cannabis extract to a Spanish pharmaceutical ingredient manufacturer. Prague-based PharmaCan s.r.o. was granted an export authorization from the Czech Ministry of Health to send 500 grams of extract to Spain, the company’s subsidiary CBDepot said in a statement on
Houston-based hemp processor and extractor Bayou City Hemp has purchased a retail company that makes hemp-derived CBD skin care, cosmetics and wellness products. Bayou City Hemp, which applied for a Texas license in March and was busy setting up operations in Houston this spring, announced that the completed acquisition of Dallas-based LeafLife Wellness is part
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