Fresh off its first survey of the American hemp industry, the U.S. Department of Agriculture is proposing a deeper analysis of the sector through another survey in partnership with the University of Kentucky. The USDA recently gave notice that it plans to survey roughly 20,000 hemp producers to find out more about market conditions. “There
Kentucky Hemp Business & Legal News
Dallas-based Generation Hemp Inc. has acquired a processing company in Kentucky with a 48,000-square-foot facility for $5.1 million. The acquisition of Halcyon Thruput LLC will be payable in $2.5 million of restricted common stock, $1.75 million in cash and a $870,000 promissory note, Generation Hemp said Tuesday. Generation Hemp will also take over $1 million
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
GenCanna, a Kentucky hemp and CBD company that filed for Chapter 11 bankruptcy in February, has dropped a suit against CBD company Medterra for unpaid invoices worth $4.5 million. GenCanna, now known as OGGUSA Inc., had sued Medterra last month, alleging that the latter failed to pay for shipments of CBD extracts and other products