A federal bankruptcy judge has approved the sale of the bulk of the assets for GenCanna Global, a hemp processor and CBD product manufacturer based in Winchester, Kentucky, to MGG Investment Group, a New York-based, private direct lender and one of GenCanna’s creditors. The deal, valued at $77 million, allows MGG Investment Group to recoup […]
Hemp and CBD companies, like other agricultural commodities and consumer product goods industries, are liable for the products they put on store shelves and in consumers’ hands. Along with that comes the high level of risk associated with producing a new crop from as-yet unstable genetics, as an ingredient for products that are still widely […]
An organic hemp-oil manufacturer in Colorado has appointed a dietary-supplement industry veteran to oversee inventory, extraction and manufacturing. Asa Waldstein will take on the role of senior vice president of operations for Functional Remedies, the company said Tuesday in a statement. Waldstein previously served as VP of operations and regulatory affairs at Advanced Extraction, and as […]
“The current predicament of a rapidly expanding national marketplace without access to the national banking systems has resulted in an untenable situation.”
“[L]egalization in Colorado is associated with an increase of nearly 51,000 hotel rooms rented per month [and] once commercial sale is permitted, there is an increase of almost 120,000 room rentals per month.”
A publicly traded agricultural technology company announced Monday that it has raised $6.8 million through warrants to fund new opportunities within its hemp division. Arcadia Biosciences, based in Davis, California, gave investors the chance to exercise existing warrants to purchase nearly 1.4 million shares of common stock at a reduced price of $4.90 per share. […]
A subsidiary of Australian hemp product producer Ecofibre has signed a deal to distribute a line of topical products at the U.S. drugstore chain CVS Pharmacy. EOF Distribution said in a statement last week that it will supply 10 hemp-derived products for exclusive sale at some CVS Pharmacy locations. The Rhode Island-based chain has more […]
Canadian marijuana giant Aurora Cannabis is further divesting itself of some of the hemp assets it began acquiring in 2017 as it tried unsuccessfully to profit from the CBD market. In its latest move, Aurora accepted an offer to sell a large greenhouse in Exeter, Ontario, for about half its CA$17 million ($12.1 million) listing […]
House lawmakers have overwhelmingly passed a pair of bills to better expand and facilitate access to medical cannabis products.
An ornamental flower producer in the United Kingdom that is licensed to grow hemp and medical marijuana has been acquired by a group led by a cannabis investment firm. The U.K.’s Bridge Farm Group, which cultivates ornamental plants, flowers and herbs, announced last week that it was acquired by an entity controlled by representatives of […]
