A Canadian marijuana producer cited hemp and CBD’s potential in Europe as it announced plans to acquire a smaller Canadian company with a CBD subsidiary in the Netherlands. The announcement Wednesday that Toronto-based Supreme Cannabis plans to acquire Truverra underscores the interest in accessing European markets. Supreme valued the acquisition at roughly $20 million. Supreme […]
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Pictures, please! Hemp group wants more evidence to fight European CBD limit
European hemp producers and manufacturers are getting renewed pleas to help fight the European Union on how it treats CBD and other extracts. The European Industrial Hemp Association (EIHA) sent an alert this week to roughly 300 members urging the EU to change its Common Agricultural Policy, which governs food rules, according to Hemp Today. The […]
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Here’s final chance to tell FDA how it should regulate CBD
U.S. health authorities are taking final comments from the public on how to regulate over-the-counter cannabis extracts such as CBD. The suggestions are due to the U.S. Food and Drug Administration (FDA) by midnight ET Tuesday, July 16, on how the agency should regulate cannabis-derived products. The FDA has vowed to expedite its review of cannabis-derived compounds […]
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FDA to provide update on CBD review by late summer or fall, official says
Federal health regulators say they’ll update the hemp industry on their CBD review by late summer or fall. Dr. Amy Abernethy, who leads the U.S. Food and Drug Administration’s work group on cannabinoids such as CBD, said Friday the agency is “enthusiastic about research into the therapeutic benefits of CBD products but also need to balance […]
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Investment firm increases stake in CBD company
Sol Global, a Toronto-based international cannabis investment firm, has increased its stake in a privately held CBD company. The firm announced Friday it spent $11.5 million (15 million Canadian dollars) in HeavenlyRx. The purchase brings Sol Global to a 42% stake in HeavenlyRx. The announcement comes less than a week after Sol Global raised $37.5 […]
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CBD company ups stake in beverage brand to secure 50-state distribution
A Toronto-based hemp and CBD investment company increased its stake in a traditional soda company with an eye toward developing CBD-infused beverages with the brand. HeavenlyRx bought 15 million shares in Jones Soda Co. for $9 million and now holds 39% of the Seattle-based beverage manufacturer. The deal also gives HeavenlyRx two seats on Jones Soda’s board. Jones […]
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Demetrix raises $50 million to research synthetic cannabinoid production
California-based Demetrix secured $50 million in a Series A funding, which the company will use for research of synthetic cannabinoid production. The Emeryville company wants to use baker’s yeast to produce large volumes of cannabinoids. More than 100 of cannabinoids can be found in the cannabis plant, sometimes in trace amounts. The company did not […]
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Gallup poll finds younger Americans more confident in CBD health benefits
Data from Gallup shows that younger Americans are more confident in the health benefits of CBD – but the majority of people familiar with cannabinoids, regardless of age, believe it has at least some health benefits. A telephone poll conducted by Gallup in late May found that 78% of surveyed individuals across the United States […]
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Hemptown acquires nutraceutical maker, moves into consumer packaged goods
Hemptown Organics Corp., a vertically integrated, multistate hemp producer based in Central Point, Oregon, has acquired longtime nutraceutical manufacturer Kirkman Group for $5 million. With $6 million in existing annual revenue, Kirkman operates a 25,000-square-foot nutraceutical manufacturing facility that is Current Good Manufacturing Process (CGMP)-certified and licensed by the U.S. Food and Drug Administration, according […]
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Sol Global raises CA$50 million for CBD expansion; exec resigns
Sol Global, a Toronto-based international cannabis investment firm, said it raised 50 million Canadian dollars ($37.5 million) in debt financing. The company will use the proceeds to fund its expansion in CBD activities and operations in California, Florida and Michigan. The company also said Jonathan Gilbert resigned as president of its subsidiary, Impact Biosciences, which […]
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New York City’s official CBD ban targeting food, drinks takes effect
New York City implemented a citywide ban this week prohibiting businesses from selling food and drinks containing CBD. The ban took effect just a few days after New York state lawmakers passed a bill allowing for some CBD products but not settling a process for putting it in food. After the U.S. Food and Drug Administration […]
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Smokable hemp ban in North Carolina could be law by December
The North Carolina House Agriculture Committee approved a bill that supports a ban on smokable hemp. The House committee on Friday moved the legislation forward, including a smokable hemp ban that would take effect Dec.1. The ban, part of a bill outlining the state’s hemp program in accordance with the 2018 Farm Bill, passed the […]
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