153
The Fine Print
Spiro Sertsis, CPA, CMA
@SpiroSertsis
This is fantastic news for those companies in the USA, such as CV Sciences (OTC:CVSI) who produce hemp food products, or Compass Diversified Holdings (NYSE: CODI), an owner of leading middle market businesses, who acquired 87% of Fresh Hemp Foods Ltd. ("Manitoba Harvest") back in 2015 for $133 million and have since acquired Hemp Oil Canada, Inc. for a purchase price of C$42 million. It also opens up new avenues for growth of Canadian hemp companies, or even those companies that have a connection to hemp-based products, which can prove a daunting task as hemp and by-products of hemp can be found in over 25,000 products ranging from agriculture, to textiles, personal care, food and construction. Although in the same breath, opening up the US market federally will create more competition in the market space, but we can also see more acquisitions such as Compass Diversified Holdings venture with Manitoba Harvest and Hemp Oil Canada.