Elixinol has purchased a 25% stake in Altmeds, the manufacturer of hemp-derived CBD pet health brand Pet Releaf. The terms of the deal were not disclosed. Denver-based Altmeds already gets its CBD from Elixinol, a Colorado producer of hemp-derived CBD extract. The Altmeds investment allows Elixinol to gain a foothold in the growing CBD pet-products […]
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Oklahoma expanding into commercial hemp production, setting transport rules
Oklahoma Gov. Kevin Stitt’s freshly inked signature on legislation moves hemp from a pilot project to full commercial production plan under the 2018 Farm Bill. Stitt signed the bill on April 18, with bipartisan support from state lawmakers. Rules should be in place in time to allow commercial production in 2020, according to Public Radio […]
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Will hemp farmers have seed for 2019? USDA issues new guidance
The U.S. Department of Agriculture (USDA) has stepped in to assist hemp producers and exporters to bring hempseed to the United States now that the U.S. Drug Enforcement Administration (DEA) is not involved. In addition to the 2018 Farm Bill removing hemp and its derived products from the U.S. Controlled Substances list, the measure removed […]
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Sol Global subsidiary closes $12 million round of private financing
Toronto-based cannabis investment firm Sol Global Investments has completed a nonbrokered private placement financing of common shares of its international hemp subsidiary, Heavenly Rx, for more than $12 million. As a result, Sol Global now holds 34.4% of Heavenly Rx’s shares, while the rest of the common shares were sold to accredited investors for 10 […]
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Michigan farmers cleared for hemp production for 2019 season
Michigan Gov. Gretchen Whitmer and the state’s agriculture department launched hemp licensing for the 2019 planting season Thursday, ensuring that Michigan’s agriculture industry won’t miss out this year. “Michigan is uniquely positioned to grow, process and manufacture industrial hemp (as) one of the nation’s most agriculturally diverse states,” Whitmer said in a news release from the […]
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The Vitamin Shoppe sells edible CBD supplements, against FDA guidance
The Vitamin Shoppe is the latest large retailer to announce it now carries CBD, but unlike other drugstore chains, the New Jersey-based company is selling edible CBD supplements and drops. The move goes against repeated warnings from the U.S. Food and Drug Administration (FDA) that CBD in food, cosmetics and dietary supplements remains illegal. With 700 stores […]
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Urban Outfitters joins retail rush to sell CBD products
Urban Outfitters entered into an agreement with New York-based cannabis company iAnthus Holdings to begin selling CBD products in six stores and online. The New York-based clothing and home decor retailer plans to begin selling CBD For Life – a line that includes topicals, cosmetics and tinctures – later this month. The agreement will place […]
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Grain company converting Indiana food factory for CBD manufacturing
Colorado-based PHM Brands, which specializes in agricultural-based ingredients and blended products, is venturing into industrial hemp, starting with a CBD factory in Indiana. PHM purchased a Prinova wheat germ plant in Michigan City, Indiana, but found that demand and sales for that product were short. The company opted to instead convert the factory for industrial hemp processing […]
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Florida agriculture chief readies state for hemp industry
Florida’s farmers are hopeful that hemp will become legal in the state in time to plant this year. The idea also is gaining popularity among lawmakers, with hemp legislation making its way through the Florida state Senate and House. Farmers need a lifeline, and hemp is it, Florida Agriculture Commissioner Nikki Fried told Hemp Industry […]
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Kansas governor expands hemp production
Kansas is taking steps toward allowing more farmers to grow hemp for commercial use under a measure Gov. Laura Kelly signed into law Monday. The law takes effect later this month and replaces a state program for researching hemp with a program that allows commercial production. Lawmakers authorized the research program last year after the […]
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‘Rocky, risky and untraveled’: Prominent analysis firm offers warning about hemp
A global agricultural research firm called hemp farming a risky business based on inconsistent pricing and production data and an unstable market. RaboResearch Food & Agribusiness said that while the U.S. hemp industry is poised for growth, there are serious financial, regulatory and agronomic risks that farmers and investors must understand. “The road ahead is rocky, […]
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Rite Aid joins CBD trend, selling topicals in Oregon and Washington state
A third large U.S. pharmacy chain announced plans to carry CBD products in two states starting this month, following the trend of major retailers cashing in on the demand for hemp-derived CBD.
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