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... Read more
A California CBD nonprofit has dodged a libel lawsuit after it was sued by two companies for saying a lab test showed that a CBD product they sold contained heavy metals. A California appeals court ruled Friday that the companies filing the suit – Medical Marijuana, Inc., and HempMeds PX... Read more
The West African nation of Ghana has passed legislation allowing hemp to be grown for industrial or medicinal purposes. The legislation allows the government to “grant a licence for the cultivation of cannabis which has not more than 0.3% THC content on a dry-weight basis for industrial purposes for... Read more
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... Read more
by Johnathan McFarlane, Director of Strategy at Hybrid Marketing Co Amidst the coronavirus outbreak, cannabis dispensaries across the U.S. are posting record sales numbers. Many people are stocking up on what they consider to be the essentials. While we are always excited when our clients see increased sales, we... Read more
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... Read more
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... Read more
Cannabis retail 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.... Read more
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... Read more
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... Read more
