Hemp Finance, Investing and Banking News

Canada marijuana titans flexing into US hemp industry

Flush with cash and looking for a toehold in the United States, Canadian marijuana companies are making big investments in hemp. Consider: Canopy Growth (NYSE: CGC), an Ontario marijuana producer that snagged an investment for 5 billion Canadian dollars ($3.8 billion) from a New York alcohol company, recently announced it is entering the U.S. hemp market. […]

Read More

Mainstream consumer products branding firm buys CBD company in deal valued at $120M

In a deal directly related to the U.S. legalization of hemp in December, a firm that specializes in branding consumer-product companies acquired CBD manufacturer Cure Based Development. The sale, an all–stock transaction, is valued at $120 million based on expected revenue of $300 million over the next five years. Level Brands (NYSE: LEVB), whose portfolio includes […]

Read More

Charlotte’s Web lands Coca-Cola executive to help guide expansion goals

Charlotte’s Web Holdings is looking for a new CEO as it brings on a marketing expert from the world’s largest beverage maker to chart new growth plans. The CBD manufacturer announced Thursday that it had hired Eugenio Mendez, a former vice president of The Coca-Cola Co. who focused on global marketing for the beverage giant’s water, […]

Read More

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 […]

Read More

Kentucky tobacco company buys stake in hemp manufacturer

Citing increased CBD sales, a Kentucky tobacco company is getting into CBD manufacturing. Turning Point Brands said it is buying an ownership stake in Canadian American Standard Hemp (CASH), a privately held company in Warwick, Rhode Island. CASH, a hemp-derived cannabinoid producer, manufactures white-label CBD tinctures, topicals, capsules and vape products. Turning Point’s move into […]

Read More

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 […]

Read More

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 […]

Read More

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 […]

Read More

Canadian cannabis company starts US hemp firm, citing looser regulations

Noting hemp’s relaxed oversight compared to marijuana, a Canadian cannabis company has launched a new hemp company and signed a $500,000 CBD deal with a Kentucky hemp producer. Ascent Industries announced the creation of Thirty Eight Hemp Co. to produce CBD products for sale in the United States. Vancouver, British Columbia-based Ascent also inked a […]

Read More