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 the Creekside Hemp, including:
- 36.15 acres of farmland with water rights and natural gas
- two houses with offices
- nine greenhouses
- a new drying shop that has three commercial machines inside a 15,000-square-foot facility
- various farming, harvesting and processing equipment
HempNova already has a facility with four large-capacity dryers in Eugene, according to the company.