GenCanna Global files for Chapter 11 to Implement Financial and Operational Restructuring Plans

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SECURES $10 MILLION IN DIP FINANCING FROM EXISTING SENIOR LENDER AND WILL EVALUATE ALL STRATEGIC OPTIONS TO MAXIMIZE VALUE WINCHESTER, KY. – Feb. 6, 2020 – GenCanna Global USA, Inc. (“GenCanna” or the “Company”) announced today it has filed a petition for voluntary Chapter 11 reorganization with the U.S. Bankruptcy Court in the Eastern District of Kentucky (the “Court”). The filing […]

Financial Regulators Issue New Pro-Hemp Banking Guidance

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Roughly one month after the United States Department of Agriculture (USDA) released the Interim Final Rule for Hemp Production, federal banking regulators have articulated that banking and financial services are both legal and cleared for the nation’s hemp farmers, processors, and ancillary businesses — the entire hemp value chain. On December 3rd, four federal banking regulatory agencies — […]

USDA Releases Hemp Interim Final Rule

Senator McConnell

When the 2018 Farm Bill (PL-115-334) was signed into law last December, we took a moment to celebrate. We quickly got back to work, because when you’re truly building something, you know that change comes incrementally. It’s been a long five years and we’re proud to have helped achieve this. Today the United States Department […]

In the News: October 2018

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KY BASED HEMP COMPANY GENCANNA ANNOUNCES EXPANSION The federal farm bill, passed this week by Congress and awaiting the signature of President Trump, has already spurred the expansion of a Kentucky-based hemp company. Read the Article GENCANNA AND ATALO HOLDINGS TO FORM HEMP PARTNERSHIP GenCanna makes initial minority investment in Atalo, and the strategic partnership […]

In the News: June 2018

hemp field

CELEBRATING CONTINUED GROWTH The month of June witnessed more landmark moments for GenCanna™ and the hemp industry as legislative progress pushed us closer to the full and final legalization of hemp and hemp-derived products. Senate Majority Leader Mitch McConnell continued to champion the Farm Bill while fighting to ensure that all hemp language remains fully […]

In the News: May 2018

ribbon cutting

It’s been a fast-paced month for the GenCanna™ team, with preparation for summer farming underway and the advocacy for national hemp legalization continuing every day. Some highlights this month included the official opening of a new office facility in Winchester, KY, a media feature on National Public Radio, new GenCanna™ product offerings, and an evening […]

In the News: April 2018

ribbon cutting

MILESTONES IN HEMP LEGISLATION April was a month full of benchmark moments for the hemp industry and its supporters.  U.S. Senate Majority Leader Mitch McConnell introduced groundbreaking legislation to finally and fully legalize industrial hemp — a bill that will bypass the traditional committee process and go directly to the full United States Senate.  The […]

Official Introduction of the Hemp Farming Act of 2018

Kentucky farm sunrise

U.S. Senate Majority Leader Mitch McConnell formally introduced a bill on the Senate floor that would officially remove hemp from the Controlled Substances Act, allowing farmers to grow hemp as an agricultural product and businesses to sell its extracts, fiber and protein as agricultural commodities. The Hemp Farming Act of 2018 not only legalizes hemp under U.S. […]

In the News: March 2018

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A MONTH OF MILESTONES As spring arrives and Kentucky begins to thaw, the GenCanna™ family prepares for the growing season and our largest hemp crop to date. We’ve been busy in March, with team members driving innovation in the hemp industry all over the world.  From Frankfort, Kentucky to Tel Aviv, Israel, we’ve been at […]

U.S. Senate Majority Leader Mitch McConnell Calls For Industrial Hemp Reform

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GenCanna™ President Steve Bevan met with U.S. Senate Majority Leader Mitch McConnell, Kentucky Department of Agriculture Commissioner Ryan Quarles, and leaders from Kentucky’s hemp industry on Monday for a dialogue about the future of industrial hemp. The roundtable discussed how farmers, producers/processors, and legislators can continue to support the growth of this industry in the […]