Former ‘Shark Tank’ investor joins hemp company board
California hemp and marijuana producer Goldenseed has added former “Shark Tank” investor Kevin Harrington to its advisory board. Goldenseed, a privately held company in Santa Cruz, said that Harrington has also invested in the company, though it did not say how much. Harrington was an early television informercial pitchman... Read more
Troubled cannabis retailer Green Growth Brands announces CEO’s departure
Green Growth Brands, an embattled cannabis retailer in the process of selling off its line of mall-based CBD kiosks, said its CEO has stepped down, effective immediately. The outgoing CEO, Peter Horvath, came to the Columbus, Ohio, company after leading company strategy for retail giants such as Victoria’s Secret,... Read more
Vermont hemp processor sues Maryland grower, alleging it lied about pesticides
A Vermont hemp processor is suing a Maryland grower, accusing the company of lying about the plants it sold being pesticide-free. The federal lawsuit filed by Newton Hill Labs, based in Milton, was filed Tuesday. It alleges Bay Water Greens and Baywater Farms of sold Newton Labs 5,000 pounds of biomass... Read more
Hemp Industries Association president steps down
(This story has been updated with comments from Beckerman.) The president of the Hemp Industries Association, Joy Beckerman, is leaving the organization, effective immediately, the group announced on Thursday. The nonprofit said that Beckerman and the industry group had mutually agreed to part ways over “time constraints and many... Read more
Elixinol refocuses CBD strategy, global ambitions amid FDA inaction
Australian hemp company Elixinol Global had grand ambitions when it went public on the Australian Securities Exchange in January 2018, offering what might be termed the holy trinity of hemp business offerings: one for hemp and CBD supplements, one for hemp food products and one for an emerging medicinal... Read more
USDA, hemp food producers assure public on coronavirus transmission fears
Companies making hemp-derived foodstuffs are joining federal authorities to remind folks that hemp foods are being inspected as usual and are safe to eat through the coronavirus pandemic. The U.S. Department of Agriculture sent an alert this week that no staffing changes are planned at the agency’s Food Safety and... Read more
Denver CBD maker opens Texas distribution center
A Denver CBD maker has opened a new fulfillment center in Dallas. CBD 100% Relief, which makes white-label CBD products and sells its own brand of CBD tinctures, creams and roll-ons online, announced Wednesday that it chose the Dallas-area for a new fulfillment center. The fulfillment center employs 12... Read more
USDA secretary calls hemp rules a ‘draft,’ sparking industry optimism
Hemp farmers and industry members cheered when federal agriculture officials lifted enforcement action requiring that hemp be tested in U.S. Drug Enforcement Administration-registered labs and the disposal portion of the interim final rule in late February. Now they may have reason to cheer again, according to industry insiders. That’s... Read more
New York CBD startup delays Canadian IPO on coronavirus issues
New York-based CanaFarma Hemp Products will start trading on the Canadian Securities Exchange (CSE) on Thursday. The listing, previously scheduled for Tuesday, was delayed at the company’s request “to account for world events relating to the coronavirus pandemic, which are expected to have caused extra delay in shareholders receiving their new... Read more
Uncertain future for CBD, continued competition drive down CV Sciences’ 4th quarter sales
CV Sciences, a San Diego-based CBD manufacturer that makes topical treatments sold nationwide, saw sales drop by 34% in the most recent fiscal quarter as the company blamed an overheated market for missing analyst expectations. “The category is simply over-branded,” CEO Joseph Dowling told investors Monday about the quarter... Read more
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