Whilst the industry is still buzzing from the huge news last week of the $5b Canopy-Constellation deal, a number of interesting developments may have gone somewhat unnoticed. Below is a concise wrap of relevant news that took place this week in the global hemp market.
An article published in The Hemp Business Journal points to a number of factors of how an increase in U.S. industrial hemp cultivation could help the U.S. in its efforts to gain an edge in its trade war with China. A key factor in this would be the passing of the adoption of the amendment to the 2018 Farm Bill sponsored by Senate Majority Leader Mitch McConnell that would legalise the cultivation of hemp in the U.S. Read the full story here
Hemp Inc. (OTC PINK:HEMP), a global leader in the industrial hemp industry with the largest multipurpose industrial hemp processing facility in the western hemisphere, announced it has entered into a Letter of Intent (LOI) with a California seed company (whose name is withheld) that positions Hemp, Inc. to purchase one hundred million (100,000,000) organic, cannabidiol (CBD)-rich hemp seeds. Read full press release here
Bahamas Development Corporation (OTC PINK: BDCI) affiliate company Global Consortium, Inc., dba Cannabis Consortium and its partner Green Matter Holdings, LLC have been notified the 15-acre industrial hemp farm will begin harvesting in October. Global currently has two buyers lined up to purchase the Bio-Mass for a minimum of $1.5 million and as much as $3 million exceeding the initial estimate per acre. The difference in sale price is dependent on the final weight of the plants after the harvest. Read full press release here
Some of Australia's largest producers of hemp seed food say the current laws shut them out of a potentially lucrative nutraceutical market where CBDs are sold in whole-of-plant cannabis extracts. Under current Australian law, growers cannot harvest this material unless they are licensed by the Federal Office for Drug Control under strict security conditions. Since the legalization of cannabis cultivation of medical and research purposes in January this year only 19 licenses have been issued for medical cannabis cultivation and another 13 for cannabis narcotic manufacture. Read the full story he
The publicly listed The Green Organic Dutchman Holdings Ltd. (TSX: TGOD), a licensed producer of medical cannabis in Canada, has entered into an agreement to acquire the privately-held HemPoland, a European manufacturer and marketer of organic hemp-based CBD oils, for $7.75 million. The acquisition will allow TGOD to access to HemPoland’s Cannabigold brand, hemp oil extraction technologies, and will help the company gain a strategic foothold in the European market. Read the full press release here
Los Angeles based Cannabis Strategic Ventures (OTC Pink: NUGS) has acquired the Fitamins CBD brand. Under the agreement, Fitamins will distribute hemp-derived CBD products and vitamins through their network of more than 600 wholesalers, which cater to the Asian American market. Fitamins will produce a proprietary CBD product for Cannabis Strategic and initially distribute it throughout the United States. Read the full press release here
Sugarmade, Inc. (OTC:SGMD), one of the largest publicly traded hydroponics supply companies, announced a new corporate initiative in the booming hemp market. Sugarmade is committing up to $1,0000,000 in capital over the next twelve months to invest in Hempistry, Inc. a privately held Nevada corporation, which has begun planting an ultra-high cannabidiol (CBD) industrial hemp strain in the U.S. State of Kentucky. Additionally, Sugarmade expects to sign an agreement with Hempistry for hemp cultivation supplies. Read full press release here