What Farm Bill? Hemp industry shrugs off law’s expiration

The law that ushered in the modern hemp industry in the United States has expired, but hemp growers, processors and retailers are counting on legal assurances that the nation’s experiment in allowing limited hemp production won’t immediately end.

The 2014 Farm Bill, which authorized hemp production under state research programs, expired Sunday – the last day of the federal fiscal year.

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Australian CBD maker raises $29 million, ups investment in Japan

Australian CBD company Elixinol Global raised 40 million Australian dollars ($29 million) in a new share placement to ramp up sales and marketing efforts in the United States and Europe. The capital raise comes less than a week after the company announced its wholly owned subsidiary, EXL International Holdings, increased its stake in Hemp Foods Japan, from […]

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DEA takes some CBD off Schedule 1 – with FDA approval

The U.S. Drug Enforcement Administration has taken some cannabidiol off the most restrictive class of controlled substances, a move that allows the sale of the first nonsynthetic, cannabis-derived medicine to win federal approval.

The agency announced Thursday that drugs including “finished dosage formulations” of CBD with THC below 0.1% will be considered Schedule 5 drugs, as long as the medications have been approved by the U.S. Food and Drug Administration.

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Multistate medical marijuana operators tapped for Virginia’s CBD program

Virginia named its first five CBD-only medical cannabis business licensees – three of them multistate operators. Virginia’s Board of Pharmacy reviewed 51 applicants to produce CBD products in five areas of the state. The winning applicants are called “pharmaceutical processors” and must grow, process and sell the products at one location, though Virginia patients can visit any […]

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‘One day you’re legal, the next day you’re not’: Confusion from spotty CBD enforcement

CBD producers and retailers in some of the nation’s largest markets say they’re pressing on despite hostile statements from their state regulators that CBD won’t be allowed. Bans in several markets have largely been met with spotty enforcement, CBD entrepreneurs say, and the impact to business has been mixed. Ohio is one of the latest […]

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Coca-Cola eyes CBD ‘functional wellness beverages’ as soda market cools

The Coca-Cola Co., the world’s largest beverage maker, is looking at a line of CBD beverages, the company confirmed Monday. “Along with many others in the beverage industry, we are closely watching the growth of nonpsychoactive CBD as an ingredient in functional wellness beverages around the world,” Coca-Cola spokesman Kent Landers said in a statement. “The space is […]

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Capitalizing on CBD: How hemp businesses are shaping the market and winning new customers

Dr. Priyanka Sharma had a thriving global business in chemical pharmaceuticals, traveling the world setting up factories extracting fish oil for nutritional supplements.

But Sharma and her husband, Pulak, left their home outside Chicago and moved to Colorado for the same three letters that have cannabis entrepreneurs, pharmaceutical companies and even mainstream grocers seeing dollar signs: CBD.

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Aurora makes big move into European hemp, CBD market

Continuing its global acquisition spree, Aurora Cannabis acquired two Lithuanian hemp companies for 6.3 million euros ($7.3 million) in cash and stocks. Edmonton, Alberta-based Aurora acquired hemp grower and processor Agropro UAB, which has some 4,000 acres growing hemp, and Agropro’s sister company, Borela UAB, which processes and distributes organic hulled hemp seeds, hemp seed protein, […]

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Hemp dispute may be harbinger of approaching legal storm

Two companies are in a legal tussle over what destroyed a 600-acre hemp farming joint venture in Colorado – a conflict that industry experts say could be the first of many as eager investors and firms try to cash in on budding business opportunities. In a recent California Superior Court filing, California-based H2 Partners claims that […]

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Virginia to keep CBD-only medical cannabis licensing review secret

The state panel that will award Virginia’s first five CBD-only medical marijuana business licenses will keep the application review process confidential. Virginia Board of Pharmacy chair Rafael Saenz announced Tuesday that the 51 applications would be considered in closed session, the Richmond Times-Dispatch reported. Regulators conferred about Virginia’s public-meeting law for 30 minutes, before a decision […]

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CBD extraction firm snags tax breaks, hiring assistance in Kentucky

Kentucky’s booming CBD industry received an additional boost when the state granted an extraction company roughly $240,000 in tax breaks, plus help finding and training workers. Lexington-based firm Zelios, which opened four months ago, said it plans to double its extraction capacity and create 44 full-time jobs for a total investment of about $2.1 million. Kentucky Gov. […]

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