Farms.com Home   Ag Industry News

iMD Companies announces its purchase of Freedom Seed and Feed

Freedom Feed and Seed is America’s first federally permitted hemp seed and fibre farm

By Diego Flammini, Farms.com

Companies from the states of Florida and Kentucky came together in a deal that, when completed, will come in being worth $1.9 million.

"This acquisition is so key for us as we were not only able to obtain a one-of-a-kind company but it also gives iMD a source that is capable of leasing land, purchasing seed, clones and the equipment needed to grow industrial hemp," said Larry Robertson, president of iMD Companies, Inc. "The bold vision that iMD management has in common with Freedom Seed Farm's (FSF) David Hadland and Michael Lewis will help expedite our entrance into the industrial hemp market."

There are more than 30 countries who grow hemp as an agricultural product and as a source of national income.

In 2011, Canada alone licensed more than 30,000 acres of land dedicated to growing hemp, which resulted in $10 million in product sales. Because the United States currently doesn’t allow industrial hemp production, judging the market value is difficult, but it’s estimated the value of all hemp-based items can be greater than $300 million annually.

Since 1970, the United States deemed hemp illegal to grow because of its similarity to marijuana. In 2005, the U.S. government allowed for hemp products to be imported.


Trending Video

USDA Shock/Surprises Markets in August Crop Report + Houston we have a problem in Ontario!

Video: USDA Shock/Surprises Markets in August Crop Report + Houston we have a problem in Ontario!


USDA August crop report shocked with higher U.S. crop yields and big changes in acres, but will diseases like Southern Rust in corn especially in Iowa take away?
If Trump gave China the AI chips it wanted, does China finally step in to buy U.S. soybeans and does Trump have a Phase 2 trade deal in his pocket for the Apec Summit when he meets Xi at the end of October?
Soybean futures rallied 68 cents the pendulum is swinging back to the upside as heat could shave the soybean yield for the 2nd half of August. Midway through the 2025 10th Annual Great ON Yield Tour, we have a problem as Central Ontario is a train wreck from a severe drought.
75% of the 700 wildfires in Canada remain out of control plus Canadian Prairie farmers took another one for the team as China slaps a 75.8% tariff on canola just in time for the 2025 harvest. Western Canadian rains too late for most.
U.S. pork cutout values remain resilient.
Does Trump have a Ukraine/Russian peace deal in his back pocket in Alaska?