Pyxus International Signs Agreement With Cornell University For Hemp, CBD Research

Pyxus entered the cannabis space last year by obtaining majority stakes in two Canadian cannabis producers, as well as a cultivation license. The company was previously a global tobacco wholesaler and distributor known as Alliance One International. It changed its name to Pyxus in 2018 as it shifted into the agricultural sector; the tobacco business continues to operate under the Alliance One name. Read more

Oak Is Out, Hemp Is In – HempWood Factory Opens In Kentucky

HempWood is a reverse-engineered wood substitute with advantages over traditional oak hardwood, says Fibonacci, the company behind it. Those include a higher availability, a much quicker grow time of six months, and a 20 percent higher density. HempWood can be used in furniture, flooring, and other woodworking projects. Read more

Hemp Fields in Poland Continue A Steady Uptick

Polish farmers grew hemp on 735 hectares (1,800 acres) in 2016 and then expanded to 1,187 (2,950 acres) in 2017, the most recent previous year for which figures are available. Stakeholders say they expect hemp cultivation in 2020 could surpass 5,000 ha. (12,000 acres) as more and more players enter the market. Read more

California Legislature Fails To Legalize CBD Products In 2019

The California Senate Appropriations Committee failed to move AB-228 out of the committee during its final hearing of the 2019 legislative session on August 30, 2019. The Committee’s action means that the sale of CBD products will remain illegal in California until at least the 2020 legislative session. Read more

Nation’s Largest Hemp Processing Plant Opens in Colorado

Colorado City, a town of fewer than 2,500 in southern Colorado, will soon be home to up to 50 million pounds of hemp, now that a massive hemp-processing facility is open for business. Read  more

Nevada Marijuana Sales Rise To $639 Million In Fiscal 2019

Cannabis sales in Nevada hit $639 million in its latest fiscal year, a 20% jump over sales of $530 million for the same period a year ago, providing the latest sign of the strength of the state’s MJ market. About 80% of the sales in the fiscal year ended June 30 are in Clark County, home to Las Vegas, according to Nevada Department of Taxation figures. Read more

OSU launches ‘Global Hemp Innovation Center’

Oregon State University is expanding its agricultural research into hemp. It’s new Global Hemp Innovation Center launched in June and is researching everything from pet food to clothing fibers. OSU says it’s Global Hemp Innovation Center is the nation’s largest hemp research center. It has ten locations in Oregon and even has four across Asia and Europe. Read more

Medical Marijuana Sales In Arkansas Top $6M As Patients Procure 800 Pounds Of It

Arkansas medical marijuana sales have eclipsed $6.04 million, the state reported last week, three months after the drug debuted in the Natural State. In total, more than 800 pounds of cannabis has been legally sold by Arkansas’ eight operating dispensaries since the first retailer opened in early May, according to the Arkansas Alcoholic Beverage Control Division. The agency regulates the medical marijuana program. Read more

Thailand Includes Low-Level Cannabis And Hemp Extracts On Its Approved Medical Marijuana List

To promote the development of medical marijuana products, U.N. member state Thailand has removed low-level cannabis and hemp extracts from its banned narcotic substances list, according to officials. Hemp seed and oil derivatives will be allowed. Read more

Medicine Man Technologies To Acquire 5 Starbuds Dispensaries In $31M Deal

Per the agreement, the company will acquire five dispensaries for $31 million, consisting of $15 million in cash, the issuance of 2.6 million common shares at $2.98 per share and a deferred cash payment of $7.75 million. Medicine Man projects that the dispensaries will achieve more than $19 million in revenue and north of $5.6 million in EBITDA this year. Read more

Colorado’s MedPharm Clears Significant DEA Hurdle for Federal Cannabis Research License

MedPharm Research, the leader in cannabis research and formulation development, was notified by the Drug Enforcement Administration (DEA) that it had been selected to move forward as one of the first applicants to be granted a license to grow federally legal cannabis under the terms of a new policy statement issued today in the Federal Register. Read more

Tilray To Acquire Cannabis Retailer FOUR20

Tilray, Inc. it signed a definitive agreement to acquire all of the issued and outstanding securities of 420 Investments Ltd., or FOUR20, via its subsidiary High Park Holdings Ltd. FOUR20 is a Calgary, Alberta-based cannabis retail operator serving the adult-use cannabis market. The company runs six licensed retail locations and has 16 high-traffic locations in Alberta. Read more

Five Takeaways On The Emerging Cannabis Market In Maine

The Central Maine Business Breakfast on the emerging adult-use marijuana market in Maine brought about 70 people to the Holocaust and Human Rights Center at the University of Maine at Augusta on Wednesday morning to talk about what to expect when it debuts later this year. Read more 

Investment Opportunities Grow As Cannabis Expands Into New Consumer Markets

For years, friends and family and angel investors were the primary funding sources for cannabis ventures, as only those closest to the industry were willing to take the risks that came with investing in a sector that, while increasingly legal at the state level, was (and is) still illegal federally in the United States. While those early investors continue to be important, we’re starting to see more institutional investors make moves into cannabis.  Read more