A Massachusetts investment fund is suing a Florida hemp company, saying investors were scammed of $350,000. Auctus Fund is accusing Hemp Naturals Inc. of: breach of contract. unjust enrichment. fraud and deceit. negligent representation. The Auctus lawsuit filed Monday in Massachusetts federal court says Hemp Naturals has failed to issue shares of its common stock […]
National hemp groups are organizing a campaign to establish a checkoff program – a sometimes-acrimonious system designed to raise money for industry research and promotion by taxing those who profit from the plant. Checkoffs exist for nearly a dozen U.S. commodities, and in the case of the dairy industry, the money it raised helped launch […]
The University of Illinois and the University of Wisconsin are recruiting Midwestern farmers to plant and test different varieties of hemp this year in exchange for discounted cannabinoid sampling. Project participants must agree to at least two sampling dates per plant variety for collection into the Midwestern Hemp Database. The University of Illinois Extension says […]
Neptune Wellness Solutions, a Laval, Quebec-based CBD extractor and manufacturer, has named former Clorox product development lead Eric Gharakhanian as the director of product development for its Health & Wellness Innovations division. Gharakhanian will lead the development of Neptune’s portfolio of health and wellness products across the personal care and homecare sectors, focusing on sustainable […]
(Editor’s note: This story is part of a recurring series of commentaries from professionals connected to the hemp industry. Andrea Steel is co-chairwoman of the Cannabis Business Law Group at Coats Rose, a Houston law firm.) By deeming hemp an agricultural commodity and removing it from the definition of a controlled substance, the 2018 Farm […]
The Michigan Legislature has passed a bill to largely align the state’s hemp industry with federal standards, including total THC testing. The measure also raises licensing fees more than 10 times. The bill has been waiting on action from Gov. Gretchen Whitmer since July 2, according to the Grand Rapids Business Journal. Michigan hemp farmers […]
One of the last hemp holdout states, Mississippi, is directing farmers interested in growing the crop to apply for an individual producer license through the U.S. Department of Agriculture. The state passed the Mississippi Hemp Cultivation Act into law late last month, legalizing hemp cultivation and directing the Commissioner of Agriculture and Commerce to create […]
New Hemp Industries Association Executive Director Jody McGinness is coming into his role during a time of great change. The executive director role has been vacant since the departure of Colleen Lanier at the end of 2019. Months later, HIA president Joy Beckerman left abruptly under less-than-friendly circumstances. Meanwhile, some state chapters have asked the […]
(A version of this story first appeared on Marijuana Business Daily.) Peru is giving hemp-derived medicines the green light, with commercialization imminent once the respective companies obtain the necessary import permits. Two hemp-derived products are registered as “cannabis-derived natural health products” in Peru. Toronto-headquartered Ramm Pharma, a company with medical cannabis manufacturing operations in Uruguay, […]
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 […]
