This week, Canopy Growth announced major plans to reduce its operations and cash-burn rate, ceasing operations at several of its locations, including overseas and in Canada and the U.S. Meanwhile, a hemp company has filed a lawsuit against Kern County, Calif., and other individuals and government agencies for allegedly destroying 500 acres of hemp, alleging the destroyed crops were worth more than $1 billion.
Here are this week’s top headlines you might have missed.
National (U.S.): As CBD companies navigate the COVID-19 outbreak one day at a time, they’re making changes large and small to keep their business afloat. Read more
National (Canada): Canopy Growth, the Canadian LP that once touted itself as the largest cannabis company in the world, is taking drastic steps to reduce its operations and cash-burn rate, ceasing operations at several of its locations. Read more
California: Apothio LLC, a vertically integrated hemp business, has sued Kern County and others for allegedly destroying a 500-acre hemp crop. The plaintiff estimates the 17 million plants were worth more than $1 billion. Read more
Michigan: Thousands of cannabis companies have been celebrating with social media influencer Chrissy Harless, who has been counting down through the 4/20 month, to the 4/20 day, with the Dabvent Calendar, a take on the Advent calendar from Christmastime. Read more
South Carolina: The Hemp Mine LLC, a vertically integrated hemp company that focuses on producing hemp genetics and consumer hemp products, has recently announced a new partnership with Adivina Nurseries LLC. The partnership allows Adivina to tap into The Hemp Mine's genetics and gives both companies an expanded geographical footprint. Read more
