California-based Omura, a marijuana and hemp flower vaporizer company, raised $5 million, with a portion of the funding coming from Bruce Linton, former CEO and founder of Canada’s Canopy Growth Corp. The raise, while not major by cannabis industry standards, is significant during the global coronavirus pandemic when investments are more difficult to secure. Linton, […]
Federal class action securities lawsuits against publicly traded hemp and marijuana businesses doubled from 2018 to 2019, a trend that’s typical in an emerging industry, according to a new report. The report, by Boston law firm Goodwin Procter, detailed 13 cases filed in U.S. federal courts in 2019 compared with six in 2018. The cases […]
In a letter to House leadership, the Marijuana Justice Coalition, which is made up by groups including the Leadership Conference on Civil and Human Rights, Human Rights Watch, the ACLU, the Drug Policy Alliance, NORML, and others, sent a letter to Congressional Leadership requesting that small marijuana businesses be able to access the emergency relief funds being administered by the Small Business Administration. The Coalition letter focuses on the need for small business access to the SBA relief funds as an avenue to protect the progress that has been made by minority entrepreneurs in the emerging legal cannabis marketplaces. “Now more than ever, if we are to provide pathways of opportunity and ownership for communities that have been historically targeted… Read More
The UK market for cannabidiol products has piqued the interest of hemp cultivators and manufacturers based on its current demand and future prospects. Nearly one in 10 adults surveyed in the UK have tried CBD, and more than a quarter of those who have never used CBD products said they would consider it, according to […]
The U.S. Food and Drug Administration warned two companies to stop illegally marketing CBD products with claims that it can treat opioid addiction and other medical conditions. The warning letters were sent Thursday to: BIOTA Biosciences, LLC, of Washington state Homero Corp., doing business as Nature’s CBD Oil Distribution of New Hampshire “CBD has not been shown […]
Fresh funds approved last week by Congress will replenish the Small Business Administration’s Payment Protection Program with another $310 billion, plus $60 billion for emergency loans on Monday. But there is doubt that even this newest round of stimulus funding to help small businesses through the disruption caused by the coronavirus will be enough, as […]
Hemp companies that are publicly traded and received emergency small-business loans may have to repay those funds under new guidance from the U.S. Treasury Department. When the first round of economic stimulus funding under the CARES Act ran dry last week, publicly traded companies that received loans began to draw scrutiny from small businesses and […]
Farmers and hemp businesses are eligible for another round of emergency loans with the enactment Friday of another round of federal funding aimed at keeping small businesses afloat. The latest stimulus package, worth some $484 billion and signed by President Donald Trump, is aimed at replenishing a depleted fund to help small businesses avoid layoffs […]
Australia has published a framework for new CBD regulations as it considers relaxing its narcotics scheduling of cannabidiol to make it available over the counter in limited doses. The Health Department proposal, revealed on Friday, could open a large new market in a nation with a thriving gray market for CBD but no legal access without […]
Sixty-one percent of respondents said that they will vote for the measure, which amends the state Constitution to permit the possession, production, and retail sale of cannabis to those age 21 or older.
