Charlotte’s Web Holdings lost $18.8 million last quarter, a plunge of 688% from the same period in 2018. The Colorado CBD maker attributed the loss to slow adoption of its products in mainstream food, drug and mass retailers. The results put the company’s profits down 688% from the same period in 2018, when the company […]
Mexico’s vote to legalize hemp and marijuana will likely be delayed because of the coronavirus pandemic, one attorney following the proceedings said. The delay has not been announced, but it’s expected to happen any moment, said Luis Armendáriz, an attorney in Chihuahua, Mexico, who is affiliated with Denver’s Hoban Law Group. “My realistic expectation is that […]
Cannabis retailing giant Green Growth Brands, which abruptly laid off 870 workers last week and told them that plans to sell part of the business could be delayed “until the world begins to resume normalcy,” is trying to reassure investors and former employees that its transition plans are intact. The company temporarily shuttered hundreds of […]
The U.S. Food and Drug Administration has updated its guidance for reporting adverse effects of various products, including dietary supplements, during the coronavirus pandemic. The FDA does not consider CBD a dietary supplement. But many CBD manufacturers do and follow FDA guidance on making and selling dietary supplements. The agency made the announcement this month, saying […]
Farmers in Iowa cheered Friday when the state agriculture department announced its hemp production plan has been approved by the U.S. Department of Agriculture (USDA) and license applications will be accepted starting April 1. Iowa is one of 12 states and 14 American Indian tribes that have received USDA approval for their hemp production plans […]
A major Colorado CBD maker will purchase a Rhode Island company that makes CBD topical products, the two companies announced Monday. Charlotte’s Web, a producer of hemp-derived CBD wellness products based in Boulder, Colorado, will acquire Abacus Health Products of Woonsocket, Rhode Island. for implied total equity consideration of approximately CA$99 million ($68.2 million). Under […]
Farmers had been holding off on buying hempseed and young plants this spring. But as the global coronavirus outbreak continues to ravage the U.S. economy and municipalities and states have begun to mandate shelter-in-place orders, producers have been reaching out to confirm their orders and are eager to get their crops planted this season, according […]
An agriculture biotech company that markets high-fiber wheat is partnering with two other California firms in an attempt to grab market share among California hemp producers. Arcadia Biosciences of Davis, California, says it will work with Grow West, a northern California distributor of farm inputs and machinery, and the Buttonwillow Warehouse Company, which sells fertilizer in […]
Marijuana Business Daily has decided to postpone or cancel three upcoming cannabis industry trade events scheduled for the United States and overseas because of the coronavirus pandemic. Here are the details: MJBizDaily’s Investor Intelligence Symposium, scheduled for next month in New York, has been canceled. Attendees have been notified. In lieu of the cancellation, MJBizDaily will launch a series […]
California hemp and marijuana producer Goldenseed has added former “Shark Tank” investor Kevin Harrington to its advisory board. Goldenseed, a privately held company in Santa Cruz, said that Harrington has also invested in the company, though it did not say how much. Harrington was an early television informercial pitchman and appeared on the first two […]
