Jenel Stelton-Holtmeier

Uruguay continues Latin American cannabis leadership with hemp industry

Uruguay, often recognized as the pioneer in legalized recreational marijuana, is also building a solid foundation to support its hemp industry. “Uruguay is an agricultural country with a clear regulatory framework that offers attractive conditions for large-scale outdoor cultivation (of hemp),” said Maria Belen Algorta, who oversees Uruguay operations for Australia-based Ecofibre. “As far as […]

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Mainstream consumer products branding firm buys CBD company in deal valued at $120M

In a deal directly related to the U.S. legalization of hemp in December, a firm that specializes in branding consumer-product companies acquired CBD manufacturer Cure Based Development. The sale, an all–stock transaction, is valued at $120 million based on expected revenue of $300 million over the next five years. Level Brands (NYSE: LEVB), whose portfolio includes […]

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CBD boom goes bust in Austria as officials ban the extract in food, cosmetics

Austria’s Minister of Health ordered businesses to immediately stop selling CBD food and cosmetics because the products fall under the European Union’s definition of “novel food.” Cannabidiol is explicitly included in the EU’s novel food catalog, which means individual member countries may limit the marketing and sale of it without specific authorization. Business Association Cannabis Austria CEO Stefan Wolyniec […]

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Chart: How the 2018 Farm Bill addresses top hemp industry challenges

Several major hurdles undermining hemp cultivators’ ability to run successful, profitable businesses are set to crumble once President Donald Trump signs the 2018 Farm Bill. Challenges such as finding processors or accessing banking services – problems attributable to the patchwork of state laws and regulations that have so far underpinned the industry – will be […]

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While on-site marijuana consumption stalls, CBD tasting and sampling take off

Cannabis entrepreneurs long frustrated by barriers to social consumption of their products are finding that CBD is a faster way to getting their products in front of consumers. Where marijuana entrepreneurs have been plagued by delays or outright hostility from public officials when it comes to public use, CBD manufacturers and retailers are finding new […]

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Wisconsin extends deadline for applications to grow hemp

Wisconsin state regulators are giving prospective hemp farmers another two months to apply for licenses for the 2019 growing season. The Department of Agriculture, Trade and Consumer Protection (DATCP) announced that it’s extending the deadline for new license applications and existing registration renewals from Dec. 31 to March 1. Brian Kuhn, director of DATCP’s Bureau […]

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Earnings roundup: Charlotte’s Web sales up 57%; GW Pharmaceuticals losses widen

CBD product sales boosted Charlotte’s Web Holdings’ revenues in the third quarter, while CBD drugmaker GW Pharmaceuticals saw its losses widen on lagging sales in its fiscal fourth quarter and full year. Charlotte’s Web (CSE: CWEB) reported revenue grew 57% to $17.7 million compared with last year’s $11.3 million during the same quarter. Year-to-date revenue […]

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Cannabis tech firm Eaze opens online CBD marketplace to meet growing demand

San Francisco-based tech company Eaze launched a new online marketplace, Eaze Wellness, to ship hemp-derived CBD products to 41 states across the U.S. and the District of Columbia. CBD sales more than doubled among the company’s customers last year, Sheena Shiravi, Eaze’s director of consumer communications, told Fortune, highlighting a key business opportunity. This marks the company’s […]

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New Zealand legalizes hempseed as food, issues guidelines

A regulatory change in New Zealand has opened the doors to hemp as food in the island nation. “Hemp seeds are safe to eat and nutritious,” Bryan Wilson, head of New Zealand Food Safety, said in the announcement about the changes that now allow the sale of hempseed foods. The new guidance is being embraced by […]

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