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 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.