CBD

CBD beverage maker eyes global expansion via $85M purchase of Utah company

A Denver company that makes CBD drinks has agreed to acquire a Utah beverage company to increase its distribution might, especially in Asia. New Age Beverages Corp. (Nasdaq: NBEV) announced that it will acquire privately held Morinda Holdings of Provo, Utah, for $85 million. Here’s what you need to know: New Age will pay $75 million […]

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New Mexico finalizes hemp rules in time for 2019 crop

New Mexico authorities have finalized hemp rules in time for farmers to produce the state’s first legal harvest in 2019. The regulations proposed by the New Mexico Department of Agriculture were approved late last week. New Mexico will set different hemp fees for outdoor grows versus indoor or greenhouse grows. Prospective hemp producers will have […]

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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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North Dakota court asked to ignore CBD’s legal status as retailer appeals drug conviction

A tobacco-shop owner appealing his drug conviction said the products he sold were perfectly legal, but prosecutors want North Dakota’s highest court to leave that question to a jury. The North Dakota Supreme Court heard arguments this week in the case of Falesteni A. Abu Hamda, who was charged in 2017 with seven drug crimes after […]

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Oregon manufacturer sells partial ownership stake to expand CBD offerings

An Oregon CBD beverage maker has sold a partial ownership stake for $1.6 million to expand production and distribution. Ablis of Bend, Oregon, makes nonalcoholic beverages that contain 25 milligrams of CBD. The products are distributed in health and wellness retailers in 10 states. Acquired Sales Corp. of Lake Forest, Illinois, is spending $1.6 million […]

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Utah adds label requirement for CBD products to combat synthetics

Utah will require CBD products to carry labels certifying they were produced legally, a move to eliminate synthetic products and treatments that contain too much THC. The new labeling requirement takes effect in January, Salt Lake City TV station KUTV reported. The state joins Indiana and Oregon, which have previously implemented similar label requirements. The Utah Department […]

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Vermont CBD company snags $7 million, plans to move manufacturing plant

A CBD manufacturer in Vermont is changing its name and plans to double its hemp acreage to 100 acres next year after selling a $7 million stake to a North Carolina venture capital firm. Hardwick, Vermont-based Green Mountain CBD will change its name to SunSoil CBD in 2019, VTDigger reported. The company sold a minority […]

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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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MariMed invests $30M in hemp-derived CBD producer

Massachusetts-based MariMed, a multistate cannabis operator, is entering the hemp-derived CBD business with a $30 million investment in a Kentucky company. The company, GenCanna, has contract farmers to grow hemp to its specifications as well as processing facilities to make CBD extracts, concentrates, isolates and other products. GenCanna plans to use the investment to expand […]

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Sales begin for first FDA-approved CBD drug

Sales are underway for the first CBD drug approved by the U.S. Food and Drug Administration. The drug, Epidiolex, treats two rare types of epilepsy and is made from marijuana plants grown in the United Kingdom. The maker of the medication, GW Pharmaceuticals, has said the tincture would cost about $32,500 a year. U.S. insurance […]

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Academia joins CBD research boom, offering new market opportunities

Lack of significant research on the effect of cannabinoids has long been a bane to the CBD and hemp industries. But in the wake of the U.S. Drug Enforcement Administration’s decision to reschedule some cannabis-derived products, researchers are looking for ways to open and capitalize on new markets and uses. Two Stanford University researchers, Jonathan […]

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