Its time for your Daily Hit of cannabis financial news for January 27th, 2020.
On the Site
Troubles Continue For Sunniva, Company Announces Ceasing Operations Of Full-Scale Distributors, LLC
Sunniva (OTCMKTS: SNNVF), a Canadian cannabis company announced the closing of wholly-owned subsidiary Full Scale Distributors, LLC set to take place in February 2020. “The closing of FSD is a necessary step that will eliminate the cash outlay required to operate that business,” said Dr. Anthony Holler, Chairman & CEO of Sunniva Inc. “We continue to focus on the preservation of our available funds to allow us to actively defend Sunniva’s rights under the previously disclosed dispute related to the Build to Suit Lease of the Cathedral City Glasshouse.” The company cannot file for bankruptcy because of cannabis’s federally illegal status.
The Year Ahead for CBD
Farmers experiencing demand and profit surges since converting their land for hemp cultivation were profiled in a CNN report in April that projected sales of hemp products to be over 2.2 billion dollars by 2022. Despite these positive projections, the hemp industry has experienced its share of problems, as outlined in an October article by Iris Dorbian for Forbes.com. These issues include a lack of widespread, scientifically sound information about the legality and benefits of CBD products, which often deters retailers from carrying hemp products.
Though projections may vary, there do appear to be strong commonalities that provide a clarified, if not completely clear, view of what 2020 holds for the CBD/hemp industry.
Airvape X Review: A Modern Multi-function Device
The few minor flaws (battery life and chamber size) with the Airvape X are greatly outweighed by the many positive aspects of the vaporizer. The change from smoking to purely vaporizing has a noticeable impact on the health of your lungs. Strong rips, easy to clean, does not take long to charge, and we are happy campers over here.
When our own Airvape X unit dies out from our daily use then we plan to replace it with another considering how great it has been to have.
In Other News
Indiana’s Smokeable Hemp Ban Moves to Federal Appeals Court
Indiana initially passed the ban on smokeable hemp in July, but it was put on hold by a federal judge. The state is attempting to revive it and The Midwest Hemp Council and seven Indiana hemp wholesalers are challenging the state’s action.
Written by Kaitlin Domangue