Back in the regulated marijuana industry’s more heady days, a U.S. hemp-derived CBD subsidiary seemed like the must-have accessory for any Canadian cannabis company worth its bud.
Canopy Growth Corp. owned a hemp farm in Springfield, New York, and planned to build a $150 million industrial park in Kirkwood, New York, to produce hemp products.
ADVERTISEMENT
Aurora Cannabis bought Reliva – a Massachusetts-based producer of hemp-derived CBD products – in a $40 million deal that included potential earnouts.
And Cronos Group spent hundreds of millions of dollars to acquire the Lord Jones hemp CBD brand.
The purchases came after the passage of the 2018 U.S. Farm Bill that legalized low-THC hemp, including hemp-derived CBD.
That legislation generated optimism about a new, multibillion-dollar market for hemp-derived products.
Now, after investor exuberance about the cannabis sector has largely worn off, several Canadian marijuana companies have retreated in one way
Read full article on Marijuana Business Daily
