Colorado Hemp Business & Legal News

Charlotte’s Web blames lack of FDA direction for slow revenue growth

CBD giant Charlotte’s Web said slow action by federal health regulators is causing disappointing growth in mass-market retail channels. The Boulder, Colorado, company told investors Wednesday that “a lack of regulatory direction” from the U.S. Food and Drug Administration (FDA) is slowing growth in food, drug and mass (FDM) sales channels. “Full revenue growth potential […]

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Canopy, US hemp grower head to court over dismal crop, missed payments

Canadian cannabis giant Canopy Growth and a Nevada-based hemp producer are suing each other in rival federal cases over a bad crop and allegations of missed payments and misspent advances. The cases center on Go Farm Hemp, a Henderson, Nevada-headquartered company that entered contracts to grow hemp in 2019 for Canopy Growth in Colorado, Kentucky, […]

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Hemp banking protections pass US House as part of landmark cannabis bill

House lawmakers passed a historic cannabis banking bill Wednesday that also provides a safe harbor for financial institutions serving hemp and hemp-derived CBD businesses. Proponents believed that such provisions were necessary despite the fact that hemp became legal nationwide with the enactment of the 2018 Farm Bill. The hemp amendments in the SAFE Banking Act, […]

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Coors subsidiary to start carrying nonalcoholic CBD beverages

Citing increased demand for nonalcoholic beverages, a Coors distributor in the Denver area has started carrying two brands of nonalcoholic drinks infused with hemp extracts including CBD. Coors Distributing Co., an independent LLC owned by Molson Coors, distributes beverages to more than 1,000 locations, including restaurants, convenience stores, grocery stores, liquor stores and events venues. […]

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Idaho drug charges dropped, but truck driver transporting hemp pleads to lower misdemeanor

An Oregon truck driver charged with felony drug crimes for driving a truckload of hemp to Colorado has agreed to plead guilty to a lesser charge. The Ada County Prosecutor’s office said Denis Palamarchuk of Portland, Oregon, has agreed to plead guilty to hauling an improperly permitted load, a misdemeanor. Prosecutors are dropping felony drug-trafficking […]

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Four takeaways from the latest round of federal CBD warning letters

The young CBD industry is growing accustomed to federal health authorities warning companies not to make medical claims about the cannabinoid. But a round of warning letters this week from the U.S. Federal Trade Commission (FTC) – the consumer-protection agency that safeguards against unfair and deceptive advertising – served as a reminder that as CBD goes […]

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Charlotte’s Web reports improved quarterly revenues, lower net income

Charlotte’s Web Holdings, which makes whole-plant hemp health supplements, reported quarterly revenues of $21.7 million for the three months ended March 31, up almost 66% from the corresponding period last year ($13.1 million). The Boulder, Colorado-based company reported net income of $2.3 million for the period, compared with $3.1 million last year. Charlotte’s Web trades […]

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Vegetable producer Village Farms expands hemp, CBD production into Colorado

Village Farms International, a prominent greenhouse vegetable producer from Canada, is entering the Colorado hemp market with a $5 million joint venture to start growing CBD-rich hemp in the Centennial State. To accomplish the move, Village Farms entered a joint venture with Arkansas Valley Hemp in southern Colorado. Under the agreement, Vancouver, British Columbia-based Village […]

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