Hemp Industry Daily’s sister publication and parent organization Marijuana Business Daily has launched two cannabis-related discussion groups on Leafwire, a LinkedIn-style digital service for hemp and marijuana industry professionals. One group focuses on international marijuana business news; the other shares stories about the hemp industry. The two groups will bring... Read more
Hemp production in 2019 wasn’t as simple or as profitable as many growers anticipated, as production costs far outpaced profits in most cases. Many traditional farmers who added the crop in 2019 expected to grow it fast and furious like other commodities. Many who used existing equipment found hemp... Read more
A Chinese business that planned to buy a hemp food company from Australian-based Elixinol Global, a CBD producer, has pulled out of the deal, citing economic impacts from COVID-19. Sydney-based Elixinol had worked on an agreement for Yunnan Luxin Biopharmeceutical to buy Elixinol’s Hemp Foods Australia, but the Chinese... Read more
Another CBD company has issued a voluntary product recall after the U.S. Food and Drug Administration flagged it for making unsubstantiated claims. Biota Biosciences, a Seattle-based CBD manufacturer, is recalling lots from three injectable products sold by distributors to consumers that were being marketed without FDA approval: Cannabidiol (CBD)... Read more
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... Read more
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... Read more
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... Read more
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... Read more
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... Read more
