CBD company ups stake in beverage brand to secure 50-state distribution
A Toronto-based hemp and CBD investment company increased its stake in a traditional soda company with an eye toward developing CBD-infused beverages with the brand. HeavenlyRx bought 15 million shares in Jones Soda Co. for $9 million and now holds 39% of the Seattle-based beverage manufacturer. The deal also gives HeavenlyRx two... Read more
What is hemp? Industry members debate which cultivars fit federal definition
As the hemp industry waits for the U.S. Department of Agriculture (USDA) to finish its federal hemp production rules in time for the 2020 season, hemp companies are speculating whether the agency will further define which varieties and cultivars will be allowed to be used under the 2018 Farm... Read more
Investment firm increases stake in CBD company
Sol Global, a Toronto-based international cannabis investment firm, has increased its stake in a privately held CBD company. The firm announced Friday it spent $11.5 million (15 million Canadian dollars) in HeavenlyRx. The purchase brings Sol Global to a 42% stake in HeavenlyRx. The announcement comes less than a... Read more
FDA to provide update on CBD review by late summer or fall, official says
Federal health regulators say they’ll update the hemp industry on their CBD review by late summer or fall. Dr. Amy Abernethy, who leads the U.S. Food and Drug Administration’s work group on cannabinoids such as CBD, said Friday the agency is “enthusiastic about research into the therapeutic benefits of CBD... Read more
Demetrix raises $50 million to research synthetic cannabinoid production
California-based Demetrix secured $50 million in a Series A funding, which the company will use for research of synthetic cannabinoid production. The Emeryville company wants to use baker’s yeast to produce large volumes of cannabinoids. More than 100 of cannabinoids can be found in the cannabis plant, sometimes in... Read more
After hemp veto, South Dakota studying merits, drawbacks of allowing production
State regulators in South Dakota have devoted the summer of 2019 to learning about hemp following Gov. Kristi Noem’s veto of a measure that would have allowed for hemp production in 2019. South Dakota is one of the only western states has not passed legislation to enable hemp production... Read more
Gallup poll finds younger Americans more confident in CBD health benefits
Data from Gallup shows that younger Americans are more confident in the health benefits of CBD – but the majority of people familiar with cannabinoids, regardless of age, believe it has at least some health benefits. A telephone poll conducted by Gallup in late May found that 78% of... Read more
Hemptown acquires nutraceutical maker, moves into consumer packaged goods
Hemptown Organics Corp., a vertically integrated, multistate hemp producer based in Central Point, Oregon, has acquired longtime nutraceutical manufacturer Kirkman Group for $5 million. With $6 million in existing annual revenue, Kirkman operates a 25,000-square-foot nutraceutical manufacturing facility that is Current Good Manufacturing Process (CGMP)-certified and licensed by the... Read more
Conventional greenhouse producers increasingly pivoting into hemp sector
Hemp grown by Rancho Tissue Technologies. Large-scale greenhouse growers are swiftly entering the hemp market as they look for higher margins than they get from traditional produce and ornamental plants. It’s no secret that interest in hemp production is booming, and producers from all agricultural sectors are joining in... Read more
Sol Global raises CA$50 million for CBD expansion; exec resigns
Sol Global, a Toronto-based international cannabis investment firm, said it raised 50 million Canadian dollars ($37.5 million) in debt financing. The company will use the proceeds to fund its expansion in CBD activities and operations in California, Florida and Michigan. The company also said Jonathan Gilbert resigned as president... Read more



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