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Charlotte’s Web swings to loss in Q2, citing pandemic and operating expenses

9/14/20--Charlotte’s Web Holdings, a CBD manufacturer in Boulder, Colorado, lost $14.4 million last quarter as the coronavirus pandemic slowed retail sales and operating expenses rose 82% from the same period a year ago. The company announced a plan to reduce operating expenses by 10% by the end of 2020, without elaborating. Read

Texas smokable hemp ban takes effect next week

7/28/20--Officials in Texas have certified that the code banning the retail sale and distribution of smokable hemp products has been approved and becomes effective Aug. 2. Read

Texas businesses file lawsuit against state for smokable hemp ban

8/6/20--Hemp manufacturers and retailers in Texas filed a lawsuit on Wednesday, challenging the Texas health department on its recently enacted ban on selling smokable hemp products. The lawsuit seeks a declaration that the department’s ban on processing and manufacturing hemp products for smoking in Texas is unconstitutional, and that the provision banning the distribution and retail sale of hemp products is invalid. Read

Hawaii wants ban on smokable hemp with new rules sent to governor

7/13/20--The Hawaii Legislature has approved a bill that aligns its hemp testing with federal law and joins other states in banning smokable hemp and CBD-infused edibles. The bill also prohibits hemp from being processed with 500 feet “of a pre-existing playground, school, state park, state recreation area, residential neighborhood, hospital, or daycare facility.” Read

‘Cash is king’ for expansion opportunities and COVID-19 cushion: Q&A with Charlotte’s Web CEO Deanie Elsner

7/2/20--Deanie Elsner joined Charlotte’s Web as CEO last year. She told Hemp Industry Daily that moving into the CBD market at the helm of Charlotte’s Web has been “fun, challenging and quite and adrenaline rush” and the Colorado-based company has been a good fit for her background of specializing in corporate turnarounds. In this interview with Hemp Industry Daily, Elsner provides insight on the company’s recent acquisition and global expansion plans and offers her take on the impact of COVID-19, the U.S. Food and Drug Administration’s regulatory delay and what is needed for the industry to move forward. Read

UN body prepares for December vote on cannabis rescheduling despite pandemic

5/29/20--The U.N. body that decides drug policy has a plan for moving forward with a landmark vote in December on whether to revise the inclusion of cannabis and cannabis-related substances in two international narcotics conventions. Read

Florida judge: FDA’s CBD review shouldn’t stop labeling claims

4/1/20--Ongoing CBD review by the U.S. Food and Drug Administration shouldn’t mean that CBD makers can’t face labeling lawsuits, a federal judge in Florida ruled. The ruling means that Diamond CBD of Fort Lauderdale cannot await FDA guidelines before facing a 2019 allegation that it misrepresented the amount of CBD in its products. Read

Hemp states running pilot programs in 2020 starting to ask for deadline extensions

1/16/20--Six state agriculture departments have opted to run their 2020 hemp production programs under the existing rules; however, state agriculture officials in several of those states say their pilot programs’ expiration dates could lead to serious problems. Recommendations to the USDA have been made to extend the agency grant deadline to state pilot programs through the end of the 2020 calendar year. Read

Cross-pollination drives growing disputes between marijuana, hemp farmers

11/14/19--Marijuana growers say that cross-pollination from hemp farms can cost them thousands because it can render flower products unmarketable. Read

Marijuana manufacturers flock to CBD e-commerce amid ongoing legal confusion

3/20/19--The dominant sales channel for CBD – e-commerce – is becoming a major draw for marijuana manufacturers, who are using hemp-derived CBD to tap into new revenue and a wider consumer base. They’re doing this despite repeated warnings from the U.S. Food and Drug Administration (FDA) that it is illegal to include CBD in food, cosmetics or dietary supplements. Read

Ag Secretary Sonny Perdue issues warning for hemp farmers

3/20/19--As the hype around hemp ramps up and states issue record numbers of licenses to farmers wanting to capitalize on opportunities the new crop may offer, U.S. Secretary of Agriculture Sonny Perdue said he isn’t so sure hemp will be the cash crop everyone is hoping for. Perdue also predicted that hemp farmers would likely avoid further pursuits into the cannabis market. Read

Hemp testing confusion snarls Farm Bill interstate commerce guarantee

3/5/19--The 2018 Farm Bill promised protection for hemp transportation but left states with no uniform way to test THC content. As the industry awaits a national testing standard to determine what is hemp and what is marijuana, some states are talking about updating outdated testing methods for themselves. The updated tests won’t eliminate the problem of varying state testing methods, but they would eliminate the simple yes-or-no on whether the plants contain THC. Read

‘Everybody’s wanting seed’: Hempseed market heats up after Farm Bill passage

1/8/19--The 2018 Farm Bill guarantees interstate commerce for all hemp products, removing requirements that viable hempseeds require approval from the U.S. Drug Enforcement Administration. Plant breeders now have a huge new market open to them as barriers to national hempseed distribution are removed. Read

Soured CBD deal highlights need for ‘persnickety’ due diligence

8/23/18--A tantalizing innovation in the CBD market has turned into a nasty contract dispute that spans the globe. Bomi Joseph, a California plant breeder, is suing CBD Naturals, a company that has been associated with Canadian CBD manufacturer Isodiol. Isodiol once held distribution rights to Joseph’s self-proclaimed innovation – a cannabidiol product derived from a hops variant. Read

Wyoming threats force Kroger affiliate, another local grocer to pull CBD products

8/3/18--Boulder, Colorado-based Lucky’s Market, a company that partners with Cincinnati-based Kroger and Jackson Whole Grocer & Cafe, took the CBD off their shelves in Jackson Hole after they were threatened with criminal penalties if they continued selling them. The Wyoming Division of Criminal Investigation told the stores the products were illegal, and state regulators argued that some of the products tested positive for THC, marijuana’s intoxicating cannabinoid. Read

Colorado company changing name to add ‘hemp,’ remove ‘pot’

7/3/18--PotNetwork Holdings, a Colorado CBD maker, is changing its name to to BioTech Hemp to take the word “pot” out of its title and add “hemp.” The company, which owns the brand Diamond CBD, said the change “underscores the company’s strengthening identity as a dominant player in the CBD industry.” Read

Charlotte’s Web’s secrets revealed as parent company plans to go public in Canada

6/29/18--Stanley Brothers Holdings plans to go public in Canada, the latest in a growing list of U.S. businesses looking north of the border to raise capital. The firm is the parent company of CW Hemp, the manufacturer of Charlotte’s Web CBD products, that was catapulted into the media spotlight in 2013 when it was featured in the CNN documentary “Weed.” According to the firm’s preliminary prospectus Stanley Brothers, the company has been steadily posting an annual profit since 2016. Read

Hot ink: CBD makers hoping tattoo-care products will open new $1.6 billion market

3/6/18--A growing number of hemp companies are launching products aimed at the tattoo industry, from CBD patches marketed as pain relief to balms and creams designed to speed recovery, to expand their retail opportunities. The trend comes as CBD producers look for non-marijuana retail opportunities amid ongoing legal uncertainty about cannabis’ legal status. Read

Hemp company launches first cannabis line aimed at minorities

2/27/18--The Hemp Excellence is making the cannabis industry’s first play for consumers of color with a line of beauty products aimed at ethnic minorities. The company's line of body lotions, lip balms, and CBD capsules went on sale this month at two beauty shops that cater to women of color in Winston-Salem, North Carolina. The maker of the line, Founder’s Hemp of Asheboro, North Carolina, is in talks to expand Hemp Excellence distribution to South Africa, Ghana, Bolivia and other countries. Read

Trump administration cautions against hemp expansion

2/21/18--The Trump administration doesn’t want to see hemp expanded nationwide in the next Farm Bill because of concerns about overproduction, according to an official. Greg Ibach, undersecretary for the U.S. Department of Agriculture, said current hemp regulations are “fairly narrow” and that the Trump administration doesn’t necessarily want to see that change when the Farm Bill is rewritten this year. Read