Hemp Finance, Investing and Banking News

CBD maker Charlotte’s Web to begin trading on Toronto Stock Exchange

Charlotte’s Web, a Boulder, Colorado-based CBD manufacturer, said Wednesday it received approval to uplist to the Toronto Stock Exchange (TSX). The company expects to start trading on the TSX on May 31 and will maintain its Canadian Securities Exchange ticker CWEB. The move to the TSX – the world’s ninth-largest exchange in terms of market capitalization […]

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Charlotte’s Web reports improved quarterly revenues, lower net income

Charlotte’s Web Holdings, which makes whole-plant hemp health supplements, reported quarterly revenues of $21.7 million for the three months ended March 31, up almost 66% from the corresponding period last year ($13.1 million). The Boulder, Colorado-based company reported net income of $2.3 million for the period, compared with $3.1 million last year. Charlotte’s Web trades […]

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Crop insurance provision for hemp included in US disaster aid bill

A provision to help hemp farmers get crop insurance has been added to a federal disaster-relief bill. A bill that passed in the Senate on Thursday includes an amendment to ensure hemp farmers access to crop insurance prior to the 2020 growing season. The provision states that the Federal Crop Insurance Corp. shall offer coverage under the […]

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Acknowledging hemp ‘uncertainty,’ FDIC chief says banking rules sufficient

Banks may be hesitant to serve hemp companies because of confusion about marijuana laws, the top U.S. bank insurer says. But that doesn’t mean financial institutions should require a new law guaranteeing hemp banking, said Jelena McWilliams, head of the Federal Deposit Insurance Corp. (FDIC), which insures deposits. McWilliams was asked about hemp banking during […]

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Charlotte’s Web closes CA$140 million share offering

Charlotte’s Web, a Colorado-based CBD manufacturer, said it has raised 140 million Canadian dollars ($105 million) in a share offering. The move, in which existing shareholders sold some of their shares, was part of the company’s plans to raise up to CA$500 million. The overall raise will likely be used for possible acquisitions, funding ongoing […]

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Canadian CBD firm expands in Europe with Polish hemp grower

A Canadian company focused on CBD extraction in Europe has bought a Polish hemp grower. StillCanna acquired Olimax, which grows about 3,700 acres (1,500 hectares) of hemp, in a deal valued at more than 25 million Canadian dollars ($18.6 million). The cash-and-stock deal includes a cash payment of $2 million, plus 24 million common shares […]

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Curaleaf agrees to buy Cura Partners for CA$1.27 billion in all-stock deal

Massachusetts-based Curaleaf, a vertically integrated marijuana and hemp company, agreed to acquire Portland, Oregon-based Cura Partners in an all-stock deal worth 1.27 billion Canadian dollars ($949 million). Curaleaf will issue 95.6 million subordinated voting shares, giving Cura a roughly 16% stake in the company. Cura’s Select brands are available in more than 900 retailers, mainly in […]

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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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