Hemp Industry Daily is closed for the Memorial Day holiday and will resume its usual publishing schedule on Tuesday.
In his veto message, the Governor wrote: “The language in the bill makes substantial policy changes to the medical marijuana program that were not fully scrutinized through normal legislative procedures before the bill was received by my office in the middle of the night Saturday. While there is much room for improvement in the way our state’s program operates, this bill does not address those items in a way I can support.”
Oregon’s HempNova Lifetech Corp., which grows and dries hemp, has bought another hemp operation in southern Oregon. HempNova’s $2.03 million acquisition of Seven Oaks Hemp Center in Central Point includes: 45 acres of land a drying facility an 8,000-square-foot greenhouse a 6,000-square-foot warehouse. Based in Eugene, HempNova announced the purchase Thursday. HempNova CEO Ken Cai said in […]
A marijuana company that has been unwinding some investments in hemp in Canada and Europe changed course Thursday and bought a U.S. company that makes hemp-derived CBD. Canadian producer Aurora Cannabis bought Massachusetts hemp firm Reliva in a $40 million stock deal, checking off a long-stated ambition of the Alberta company’s executives to enter the […]
A Florida company that cultivates and processes hemp biomass has named a new chief marketing officer. Fort Lauderdale-based Green Point Research said Robin P. Pate will be responsible for developing new distribution channels, as well as brand development and partnerships to support the companies’ products. Pate was formerly with The Institute for Advanced Composites Manufacturing […]
Democratic Governor Ralph Northam officially signed legislation today decriminalizing marijuana possession. The new law takes effect July 1, 2020 and reduces penalties for offenses involving the possession of up to one ounce of marijuana to a civil violation – punishable by a maximum $25 fine, no arrest, and no criminal record.
Last week, the hemp industry gained valuable insight into how the highest court in the European Union might rule on France’s ban on hemp-derived CBD products. The advocate general at the Court of Justice of the European Union issued an opinion that the restriction was not in line with EU law – an announcement that […]
A Canadian oil-and-gas company expanding into hemp extraction has acquired a Canadian hemp company in an all-stock deal worth CA$20 million ($14.4 million). As part of the deal, HTC Extraction Systems, based in Regina, Saskatchewan, will acquire various assets including land and licenses from KF Hemp. Those assets include various licenses, including an industrial hemp […]
Ohio-based marijuana retailer and former CBD retail giant Green Growth Brands said this week it has filed for insolvency protection in Canada. The move comes two months after after the company abruptly shuttered its line of CBD retail kiosks in shopping malls as the coronavirus pandemic set in. The financially troubled multistate operator – with […]
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 […]