Hemp Finance, Investing and Banking News

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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The Vitamin Shoppe sells edible CBD supplements, against FDA guidance

The Vitamin Shoppe is the latest large retailer to announce it now carries CBD, but unlike other drugstore chains, the New Jersey-based company is selling edible CBD supplements and drops. The move goes against repeated warnings from the U.S. Food and Drug Administration (FDA)  that CBD in food, cosmetics and dietary supplements remains illegal. With 700 stores […]

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Arizona payments processor to serve hemp, CBD businesses

While other banks and payment processors are stepping back, Hypur, an Arizona-based payments processor, has launched services to serve hemp and CBD merchants throughout the United States. Elavon, a U.S. Bank payments solution subsidiary, recently announced it would withdraw its services to the sector because of concerns over federal regulations. Other payment processing companies such as […]

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Aurora Cannabis to increase hemp stake, buy Alberta producer

Canadian marijuana giant Aurora Cannabis is getting deeper into the hemp space, announcing Tuesday that it plans to acquire the rest of a hemp company it partially purchased last year. Aurora said it will buy the remaining outstanding shares of Hempco Food and Fiber, which makes hemp foods and nutritional supplements in Nisku, Alberta. Aurora, which […]

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Colorado CBD manufacturer raises $65M to buy ‘mountains of hemp’

Loveland, Colorado-based Mile High Labs – a manufacturer of CBD crude oil, distillate and isolate – is borrowing $65 million to buy “millions of pounds” of pelletized hemp for CBD extraction. The company closed on the debt facility with investment firm MGG Capital. The term loan comes less than six months after Mile High Labs closed […]

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‘Rocky, risky and untraveled’: Prominent analysis firm offers warning about hemp

A global agricultural research firm called hemp farming a risky business based on inconsistent pricing and production data and an unstable market. RaboResearch Food & Agribusiness said that while the U.S. hemp industry is poised for growth, there are serious financial, regulatory and agronomic risks that farmers and investors must understand. “The road ahead is rocky, […]

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Hemp companies left looking for banking alternatives

The stability that the 2018 Farm Bill was supposed to bring to the hemp industry remains elusive, particularly on the banking front, where a risk-averse industry has been pulling its previously dipped toes out of the water. U.S. Bank’s payments processing subsidiary Elavon recently opted to pull out of offering services to hemp farmers and […]

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Race is on for hemp companies to raise capital

Now that hemp is a federally legal product, the door is open for large institutional investors to enter the market and pump millions – if not billions – of dollars into hemp and CBD companies. And hemp companies that have relied on private equity or turned to Canada’s public markets to raise capital have new […]

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