A Las Vegas-based hemp company is making a play for the booming European CBD market by buying a greenhouse near Valencia, Spain.
Freedom Leaf bought the 430,000-square-foot complex – formerly the largest poinsettia nursery in Europe – for 4.1 million euros ($4.75 million).
The company expects four harvests a year and has already planted about 100,000 hemp seedlings.
Freedom Leaf CEO Clifford Perry said his company already has orders for more than 6,600 pounds (3,000 kilograms) of European-certified hemp flower.
The company, which trades on over-the-counter markets as FRLF, owns several hemp companies, including Irie CBD and a line of vaporizers, extracts and pet products called Hempology.