Three CBD companies received letters from the U.S. Food and Drug Administration (FDA) and the Federal Trade Commission (FTC), warning them against making “unsubstantiated claims” about their products’ medical benefits. The companies, Advanced Spine and Pain LLC (Relievus) in Jenison, Michigan, Nutra Pure in Vancouver, Washington, and PotNetwork Holdings... Read more
In his final week at the U.S. Food and Drug Administration (FDA), outgoing Commissioner Dr. Scott Gottlieb has made good on his promise to set a date for the first public hearing on CBD – but it won’t be this month, as he previously stated at a Congressional hearing... Read more
In a lead-up to spinning off its hemp-based CBD interests, Los Angeles-based Vertical Companies closed a $58 million Series A funding to build out the company’s footprint and bring its brands to market. A subsidiary, Vertical Wellness, a hemp-based CBD operator and brand firm with 2,000 acres of hemp... Read more
Hemp farmers and businesses may soon have access to banking, credit and financial services if two of the industry’s biggest champions on Capitol Hill have anything to say about it. And they do. Sens. Mitch McConnell of Kentucky and Ron Wyden of Oregon sent letters to four federal banking... Read more
Hemp holdout Texas is taking a big step toward embracing the federally legal plant, with one agency announcing a rule change to remove the plant from the state’s definition of marijuana. But entrepreneurs hoping that Texas will allow a hemp industry before federal agencies take action say that the... Read more
Uncertainties surrounding regulations – both at the state and federal levels – and a lack of recent historic data in the United States are factors that could discourage investors in the American hemp industry, attendees at a Denver forum heard last week. However, savvy investors can still find opportunities... Read more
Hemp’s potential in sustainable construction has won some California researchers a grant from the U.S. Environmental Protection Agency (EPA). Researchers at the University of California, Riverside, have been awarded more than $12,000 to study a new way to process hemp for hempcrete. The students will experiment with a cleaner... Read more
Charlotte’s Web, the Colorado-based hemp and CBD company, is continuing to explore the possibility of either uplisting to either the Toronto Stock Exchange or U.S. exchanges. Various options are being looked at, including a possible listing on the New York Stock Exchange, CEO Hesaam Moallem told analysts on a... Read more
Boulder, Colorado-based Charlotte’s Web Holdings reported revenue for 2018 of $69.5 million, a 74% increase over 2017. Full-year profit for the manufacturer of hemp-derived CBD products increased 57% to $11.8 million. For the fourth quarter ended Dec. 31, 2018, revenue totaled $21.5 million, up 71% over the prior-year period.... Read more
Maine has changed course on CBD foods less than three months after health authorities ordered CBD foods off shelves. A new law gives CBD manufacturers express permission to add cannabidiol to foods in contravention of federal law, which bans the addition of CBD into the food supply. Gov. Janet... Read more
