Canadian Rockies Hemp Corp., a decorticator and processor near Edmonton, Alberta, says its expansion plans to become the largest hemp processing facility in North America are back on track after a $14 million (CAD$18 million) infusion from Merida Capital Holdings, a private equity cannabis investment fund. The loan will be used to help the processor
Canada Hemp News
This story first appeared at Marijuana Business Daily. The development of new genetic-editing technology offers cannabis companies a cost-effective way to make specific changes to marijuana and hemp plants – such as more disease resistance – without creating a genetically modified organism. The technology, known as Crispr-Cas9, will allow the cannabis industry to build new,
A Canadian manufacturing company that makes agricultural equipment for the marijuana and hemp industries is accusing U.S. Customs and Border Protection of wrongly blocking imports needed by its Washington state subsidiary to build a hemp-trimming machine. Keirton USA says that Customs agents seized last month in Blaine, Washington, calling the equipment “drug paraphernalia.” The seizure
Canadian hemp and marijuana producer Tilray cut its annual loss to $271 million for 2020 — an improvement from the Nanaimo, British Columbia company’s $321 million loss in 2019, according to the full-year and fourth-quarter results released Wednesday. Tilray, which is on the verge of being merged with Canadian peer Aphria, lost only $3 million
A Canadian hemp producer says it has acquired the water rights necessary to pursue its plan to grow hemp in northwestern Colorado and process the hemp into construction components for affordable homes on the same land. Global Hemp Group says it has acquired control of Western Sierra Resource Corp. of Steamboat Springs, Colorado, and its
(A version of this story originally appeared at Marijuana Business Daily and will be updated.) An Irish pharmaceutical firm, Jazz Pharmaceuticals, has agreed to purchase United Kingdom-based GW Pharmaceuticals, one of the largest medical cannabinoid companies in the world, for $7.2 billion, the drug companies said Wednesday. The proposed cash-and-stock deal would be the largest
The first Big Tobacco company to join the hemp and marijuana industries is getting back out. Pyxus International, one of the world’s largest tobacco suppliers, said Thursday that it will focus on its more profitable tobacco and liquid nicotine products after filing for bankruptcy in June. Based in Morrisville, North Carolina, Pyxus was growing hemp
Molson Coors Beverage Co. says it has launched CBD drinks in Colorado through TRUSS CBD USA, its joint venture with HEXO Corp. The beverage line will be available in three flavors – Grapefruit Tarragon, Strawberry Hibiscus and Blueberry Lavender under the name, “Verywell,” Molson Coors and HEXO said Wednesday. The companies first partnered in 2018
RAMM Pharma, a cannabis-based pharmaceutical company with products in several Latin American countries, has bought a 49% stake in the Sicilian CBD processing company Canapar. Based in Toronto, RAMM purchased the shares from the cannabis venture-capital firm Canopy Rivers. Under the agreement, RAMM paid $7 million cash to Canopy Rivers to buy a little more
This story appears in the January issue of Marijuana Business Magazine. Acquisitions remain a key strategy for companies looking to enter or expand their reach within the cannabis industry, but sellers must be ready to seize such opportunities. Owners who would like to exit the hemp space or join larger conglomerates should be ready to: Decide whether to engage a broker. Ensure their financial information is ready for close
Hemp entrepreneurs are starting the new year looking to play a role in global efforts to reduce plastic pollution. Canada has rolled out a list of single-use plastics that will be banned in the country by the end of 2021. Restrictions on single-use plastics include straws, coffee stirrers, drink rings, plastic cutlery, take-out food containers
This story first appeared at Marijuana Business Daily. A data breach at Aurora Cannabis has exposed the personal information of an unknown number of the Canadian company’s current and former employees, Marijuana Business Daily has learned. An email sent to a victim of the data breach cites a Dec. 25 “cybersecurity incident during which unauthorized
This story originally appeared at Marijuana Business Daily. Canadian cannabis producer Canopy Growth Corp. is suing UK-based GW Pharmaceuticals in U.S. federal court, alleging that GW is knowingly infringing upon Canopy’s intellectual property. GW used a Canopy-patented method to extract the CBD that’s the active ingredient in its Epidiolex medication, according to a complaint filed
Read more about this deal at Marijuana Business Daily. A Toronto marijuana company that has been growing hemp in Illinois, Red White & Bloom Brands, has secured a $60 million loan and signed a definitive agreement to acquire an Illinois medical and recreational cultivation facility for $32.5 million. Red White & Bloom’s purchase of Ontario’s Cannabis
Aphria and Tilray, two Canadian giants in cannabis, have agreed to combine operations and form an international behemoth with combined equity value of approximately 5 billion Canadian dollars ($3.9 billion). The merged entity includes Manitoba Harvest, a Winnipeg maker of hemp food products that was acquired last year by Tilray. Based on data reported by
Canada’s hemp acreage and export value are both up more than 20% this year, the Canadian Hemp Trade Alliance reported after its annual gathering. “The Canadian hemp industry continues to grow in 2020 despite the challenges posed by COVID-19,” CHTA board chairman Keith Jones said in a statement after the group’s annual meeting, held online
(A version of this story first appeared at Marijuana Business Daily International.) Canadian marijuana producer Hexo Corp. says it has settled a trademark-infringement lawsuit against a California CBD maker. Hexo sued Assi Project Management for unfair competition and trademark infringement in the U.S. District Court for the Southern District of California after discovering the company
A version of this story first appeared at Marijuana Business Daily International. Marijuana and hemp giant Canopy Growth is swapping one stock exchange for another, departing the New York Stock Exchange (NYSE) in favor of the Nasdaq in an effort to save money. Canopy, which reported a loss of 128 million Canadian dollars ($97 million)
Thoughtful Brands, a cannabis and psychedelics company in Vancouver, British Columbia, has dissolved its subsidiary in Germany to focus on its direct-to-consumer brands, including a CBD maker in Kentucky. Thoughtful Brands says its subsidiary Verrian Germany GmbH has sought creditor protection and institute insolvency proceedings in Germany. Verrian focused on researching psychedelic compounds in Radebeul,
Canadian greenhouse giant Village Farms International is moving ahead with plans to take over a firm it started as a joint venture to produce marijuana and CBD in British Columbia. Village Farms, one of North America’s largest producers of greenhouse tomatoes, bell peppers and cucumbers, has approval from its joint-venture partner Emerald Health Therapeutics to
One of the largest convenience-store chains in North America has tapped a California CBD firm to expand its portfolio of CBD products in the southeastern United States. Circle K says it has brought Newport Beach’s Wild By Nature tinctures and vaporizers to more than 150 stores in Florida and Alabama. The launch in Circle K’s
(Editor’s note: This story is part of a recurring series of commentaries from professionals connected to the hemp industry. Robert Ziner is founder and CEO of the Canadian Industrial Hemp Corp., which uses artificial intelligence to process hemp stalks and fiber to make hemp-based bio-composite pellets.) In many business opportunities, especially those focused on basic
A Kentucky tobacco company is deploying $15 million to a Los Angeles marijuana vape company that plans to expand its footprint by building out a line of THC-free CBD products. Turning Point Brands of Louisville says its investment in dosist will be used to develop new THC-free products and a new national CBD brand that
Canadian health authorities say there’s strong demand for over-the-counter, low-THC cannabis such as CBD, and most people want to use it for pain and inflammation if the country were to establish a legal market. That’s the result of a recent Health Canada survey. The agency is considering new rules about the sale of CBD and
A longer version of this story appears on Marijuana Business Daily International. A new prescription CBD product is available in Peru, another sign the market is moving in the right direction. Toronto-headquartered Khiron Life Sciences, a company with its main operations in Colombia, said it became the “first company to sell and fill medical cannabis
A judge in California has dismissed a lawsuit against a CBD candy manufacturer, saying it was not necessary to wait for U.S. guidelines on CBD in edibles to issue a ruling on the case. Charles Ballard filed suit against Toronto-based Bhang Corp. in 2019, alleging that he purchased Bhang Medicinal Chocolate with “a specific quantity
Thoughtful Brands, cannabis and psychedelics company in Vancouver, British Columbia, has acquired a Kentucky CBD maker in a stock-and cash deal worth CA$12 million ($9 million). Thoughtful Brands Inc. announced the execution of a deal to buy American Extraction CBD Corp., a privately held hemp grower and processor in Pikeville, Kentucky. The deal includes American
CBD has “significant potential for growth” in Canada if the government were to allow the cannabinoid in natural health products, a think-tank predicts. A report released this week by the Canadian Health Food Association estimated the CBD market in Canada at CAD $1.9 billion ($1.44 million), with immense potential for exporting CBD to other countries.
Kansas State University researchers are studying the effects of feeding industrial hemp to cattle. The research comes from a $200,000 grant from the U.S. Department of Agriculture, KSN-TV reported Wednesday. “Although hemp can be legally cultivated under license in Kansas, feeding hemp products to livestock remains prohibited because the potential for cannabinoid drug residues to
Canadian cannabis producer Hexo Corp. and brewer Molson Coors Canada have launched new beverage products under their Truss Beverage Co. joint venture, marking increased competition in Canada’s much-hyped marijuana beverage market. The lineup of five drink brands unveiled Tuesday includes both CBD and THC products. All will be sold in Canadian marijuana dispensaries, not in