CBD Products & CBD Business News

Amid financing challenges, Kentucky hemp grower lands $30 million bank loan

A Kentucky hemp producer has secured a sizable loan to help grow its business in 2020. AgTech Scientific, a privately held hemp and CBD company in Paris, Kentucky, said it has closed a $30 million business loan with Truist Financial, a Charlotte, North Carolina-based bank holding company formerly known as BB&T. “We are honored to […]

Read More

Cuomo signs NY hemp law; decision on extracts in food, beverages deferred

New York Gov. Andrew Cuomo signed a bill into law Monday that sets up a regulatory framework for the production and sale of hemp and hemp extracts in the state. According to a statement from the governor’s office, the new law also requires hemp businesses to test and properly label products to safeguard consumers. The […]

Read More

Iowa retailer arrested for selling still-illegal CBD products

An Iowa CBD retailer was arrested after allegedly selling products containing cannabidiol to police. Lacie Navin, the owner of Your CBD Store, in Ankeny, Iowa, was arrested as part of a task force investigation into businesses selling CBD in the area after multiple complaints. According to police, this is the first arrest in the state […]

Read More

Another German court halts sale of CBD as food without ‘novel’ authorization

Local authorities acted correctly by not allowing sales of CBD products that don’t have a “novel food” authorization, a German court decided, confirming an earlier ruling. The “novel food” classification is given by the European Union to products that have not been significantly consumed before 1997. The Gießen Administrative Court (VG Gießen) said it decided […]

Read More

Federal CBD delays hurting profits and shelf space for manufacturers, companies say

CBD manufacturers have seen wide adoption of their products into mainstream retail chains in recent months, so why aren’t they turning profits as rapidly as expected? The federal government is the culprit, according to some. CV Sciences and Charlotte’s Web are among the cannabis companies that pointed to delayed federal CBD regulations as they reported […]

Read More

New York prosecutor to drop marijuana charges in Vermont hemp seizure

Prosecutors are planning to drop all charges against the man arrested on marijuana possession charges in connection with a case in which 106 pounds of hemp plants shipped from Vermont were mistaken as MJ and seized by the New York Police Department. The Brooklyn district attorney’s office said that Ronen Levy’s felony marijuana possession charge […]

Read More

CBD wellness firm Heavenly Rx to take over Nasdaq-traded drug company

An emerging CBD company plans to take over a Nasdaq-traded pharmaceutical corporation focused on developing cannabinoid pharmaceuticals. Under an agreement announced Tuesday, Heavenly Rx will execute a reverse takeover of Therapix Biosciences. When the proposed deal is complete, the combined entity will be known as Heavenly Rx. Paul Norman, CEO of Heavenly Rx and former […]

Read More

Ruling confirms Germany’s designation that CBD is a ‘novel food’

A court case confirmed that German authorities consider CBD products either a prescription medicine or novel food. The ruling followed the direction of the European Union (EU), which has ruled that the cannabinoid and products containing cannabidiol can’t be yet be sold without additional safety research. The novel foods distinction is given to products if […]

Read More

Canopy Growth’s NY hemp facility to receive $1.7 million tax break

The Canadian cannabis producer building an industrial park for hemp processing in New York state would get a hefty property tax break under a new plan hatched by a local economic development group. The Broome Industrial Development Agency said Canopy Growth will receive a standard 15-year payment-in-lieu-of-taxes deal that will reduce taxes on the 48-acre […]

Read More