Mexico’s Chamber of Deputies has approved a bill to allow regulated marijuana and hemp industries. But the pending law still has hurdles to overcome and it could be years before a flourishing industry emerges. Lawmakers in Mexico’s lower house voted largely in support of the bill, with 316 votes in favor and 129 against. There… Continue reading Mexico’s lower house approves landmark hemp, MJ legalization bill
Category: Canada Hemp News
Chart: US hemp legalization hasn’t cooled imports
Hemp imports were cited as a main driver for Congress voting in 2014 to authorize limited experimentation with the crop after decades of head-scratching policies allowing hemp to be bought and sold in the United States — as long as it was grown somewhere else. But hemp exports have grown dramatically ever since. Hemp imports… Continue reading Chart: US hemp legalization hasn’t cooled imports
Alberta fiber processor resumes expansion after COVID-19 delay
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… Continue reading Alberta fiber processor resumes expansion after COVID-19 delay
Genetic editing offers hemp and marijuana companies a way to improve plant strains
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,… Continue reading Genetic editing offers hemp and marijuana companies a way to improve plant strains
Customs and Border Protection accused of wrongly blocking trimmer components
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… Continue reading Customs and Border Protection accused of wrongly blocking trimmer components
Canadian hemp, marijuana producer Tilray reports $271 million loss for year
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… Continue reading Canadian hemp, marijuana producer Tilray reports $271 million loss for year
Vancouver company locks down water rights for hemp construction plans in Colorado
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… Continue reading Vancouver company locks down water rights for hemp construction plans in Colorado
CBD maker GW Pharma agrees to $7.2 billion acquisition by Ireland’s Jazz Pharmaceuticals
(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… Continue reading CBD maker GW Pharma agrees to $7.2 billion acquisition by Ireland’s Jazz Pharmaceuticals
First Big Tobacco cannabis player backs out after bankruptcy
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… Continue reading First Big Tobacco cannabis player backs out after bankruptcy
Molson Coors, HEXO launch CBD drinks in Colorado
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… Continue reading Molson Coors, HEXO launch CBD drinks in Colorado
Venture capital firm Canopy Rivers sells 49% stake in Italian processor to RAMM Pharma
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… Continue reading Venture capital firm Canopy Rivers sells 49% stake in Italian processor to RAMM Pharma
Landing a Buyer: Executives who have closed M&A deals reveal what makes them commit
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… Continue reading Landing a Buyer: Executives who have closed M&A deals reveal what makes them commit
Global efforts to reduce plastics pollution make way for alternatives like hemp
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… Continue reading Global efforts to reduce plastics pollution make way for alternatives like hemp
Aurora Cannabis breach exposes personal data of former, current workers
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… Continue reading Aurora Cannabis breach exposes personal data of former, current workers
Cannabis firm Canopy Growth sues GW Pharma, claiming patent infringement
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… Continue reading Cannabis firm Canopy Growth sues GW Pharma, claiming patent infringement