This story first appeared at Marijuana Business Daily. Cultivation facility design and engineering firm Urban-Gro priced an initial public offering on the Nasdaq exchange to raise $54 million before expenses. The IPO put up 5.4 million shares of the Lafayette, Colorado-based company at a price of $10 per share. Urban-Gro also works in the non-cannabis
Hemp Cultivation, Processing & Extraction News
Prosecutors have dismissed charges against a Minnesota hemp farmer whose plants had elevated THC levels, saying that they had trouble locating witnesses because of delays in the case. Fillmore County prosecutors filed felony possession charges against Luis Hummel in March 2019 after seizing his plants. They tested at 3% THC, 10 times higher than the THC
A California hemp seed company was closed by the state labor board following complaints that the company hadn’t paid more than a dozen full-time workers since mid-December. The California Labor Commissioner’s Office shut down Castillo Seed Company, based in Half Moon Bay, in late January. The company had sent a letter to its workforce in
Dionne Toombs Researchers at the U.S. Department of Agriculture say they’re studying ways to boost hemp production and profitability for growers, and are collecting the first national statistics on domestic hemp production to be ready by next year. But Dionne Toombs, director for USDA’s Office of the Chief Scientist, gave no indication this week at
3M’s Don Davidson uses everyday sticky notes to demostrate how hemp could become part of tomorrow’s adhesives (photo via National Hemp Symposium) Industrial conglomerate 3M Co. thinks hemp can be part of the sustainability “megatrend” and is looking at hemp components to do everything from strengthening packaging tape to helping grow human tissue and organs.
Two associated hemp drying companies and their chief executive have each been fined nearly $200,000 by state environmental regulators in Oregon. The Oregon Department of Environmental Quality issued fines of $198,786 to Columbia Hemp Trading Company and $196,288 each to related company Columbia 410 and CEO Jacob Crabtree. The firms were operating out of the
NBA Hall of Famer Isiah Thomas is investing $3 million in his company One World Pharma, which grows hemp and marijuana in Colombia. Thomas, who played 13 seasons for the NBA’s Detroit Pistons, became CEO of One World Pharma in July. The company is located in Las Vegas but has a 30-acre regional cultivation facility
A clear majority of hemp farmers and processors support establishing a federal program to promote the crop, according to a survey by two industry groups, but not everyone supports paying for it. The National Industrial Hemp Council and the Hemp Industries Association polled their members late last year on the question of having a checkoff
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
U.S. farmers could bring home almost $10 billion less in annual income in 2021 because of slowed federal pandemic payouts to farmers. The U.S. Department of Agriculture projects that farm income in 2021 will decrease $9.8 billion, to $111.4 billion. The falling income forecast comes as Congress pumps the brakes on pandemic-related relief funds for
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