Hemp Finance, Investing and Banking News


Oregon’s HempNova buys 90% stake in another hemp-growing operation

Oregon’s HempNova Lifetech Corp., which grows and dries hemp, has bought a 90% interest in a hemp-growing operation in the southern part of the state. The Eugene-based company announced last week it will pay $4.5 million in three cash installments for the percentage stake it bought from Creekside Hemp Inc. The deal includes various assets from […]

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Another Kentucky hemp company files for bankruptcy

Another Kentucky hemp producer is seeking bankruptcy protection. Atalo Holdings cited “confounding guidance” from regulators and “unforeseen market forces” in announcing the Chapter 7 filing late Friday. Atalo chairman Andrew Graves said in a statement that the company hopes to continue operating while bankruptcy proceeds. Graves called his company “an attractive opportunity for a timely new […]

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California firm cuts $25M revenue projection on hemp-trading platform

California-based KushCo Holdings, a cannabis company specializing in ancillary products such as packaging, is ratcheting back its hemp revenue predictions. The company told investors Friday that it’s retracting its 2020 hemp revenue guidance of $25 million. The announcement came as the firm announced it will miss this quarter’s revenue estimates. The company cited a “slower-than-anticipated rollout […]

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Tax relief and higher THC limits: Q&A with U.S. Rep. Denver Riggleman

Raise THC limits, improve access to banking, provide tax relief and offer opportunities for new hemp and CBD businesses – one Congressman has heard distress calls from the nascent hemp industry and is working to introduce legislation that could help. U.S. Rep. Denver Riggleman, a Republican from Virginia, says he plans to introduce legislation called […]

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FDA pledges action against ‘unlawful CBD products’ while offering confidentiality for research

The U.S. Food and Drug Administration said it will continue to “take appropriate action against unlawful CBD products that pose a risk of harm to the public,” even as the federal agency implored the industry to collaborate with the government to study CBD’s possible benefits and dangers. The statement Thursday from new FDA Commissioner Dr. […]

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Marijuana giants have a new plan to jump-start US hemp’s supply chain

Three cannabis veterans who helped grow a Canadian firm into the biggest company in the industry are setting their sights – and investing up to $175 million – on the U.S. hemp supply chain beyond just flower products. Bruce Linton and Tim Saunders, the former co-CEO and chief financial officer, respectively, of Canopy Growth, have […]

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2 Canadian cannabis production companies settle legal dispute

Two Canadian companies that formed a joint venture to sell hemp and marijuana have settled a legal dispute over which owned more of the business they created. Village Farms International and Emerald Health Therapeutics on Tuesday announced the settlement, which stipulates that Village Farms will own 57.4 % of Pure Sunfarms Corp., the venture they […]

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Abacus acquires Harmony Hemp for $5.5M, boosting retail reach to 12,000 stores

Rhode Island CBD manufacturer Abacus Health Products acquired Utah’s Harmony Health brand of topical CBD products in a cash-and-stock deal worth $5.5 million. The acquisition flexes Abacus’ retail footprint to roughly 12,000 locations nationwide. Harmony Health brands, which will continue selling under the Harmony Health name, include lotions, pain relief gels and roll-ons made by third-party contract […]

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