Louisiana regulators allowing illegal hemp products on market, audit shows

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1 year ago

April 17, 2023

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The Louisiana health department has been allowing 200-plus intoxicating hemp products that violate state law to be marketed and sold, according to a recent audit.

Under Louisiana state law, hemp products are limited to no more than 8 milligrams of THC per serving and no more than 1% THC by total concentration.

Products meant to be inhaled, such as vaporizer pens, are not allowed.

But as of March, 36 of the 2,564 registered consumable hemp products sold in the state were “prohibited” vape pens, according to a Louisiana Legislative Auditor report.

Another 198 edible products registered for sale in the state exceed the 8-millligram limit on THC, the report found.

And more offending products might be on store shelves, the auditor noted in the report.

The revelations come amid a national conversation over intoxicating hemp-derived cannabinoids, which lawmakers in many states have targeted for increased

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Canada’s medical cannabis exports jump to CA$220 million as domestic sales fall

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2 days ago

May 6, 2024

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Canadian exports of medical cannabis hit an all-time high last year as the county’s licensed producers continue to diversify from the competitive local market in favor of pursuing top-line opportunities overseas.

In the 2023-24 fiscal year, Canada exported roughly 218 million Canadian dollars ($189 million) worth of medical marijuana products for commercial and scientific use, MJBizDaily has learned.

That’s an increase of more than 36% from the previous year’s exports of CA$160 million.

The data from regulator Health Canada paints a picture of brisk and consistent growth in the export sector.

In previous years, the revenue of cannabis exports reported by licensed producers was:

CA$8 million in 2019-20. CA$39 million in 2020-21. CA$107 million in 2021-22.

Health Canada said the 2023

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US cannabis business licenses down 6% in first quarter of 2024

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6 days ago

May 2, 2024

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The number of active U.S. cannabis business licenses continued to shrink in early 2024, according to CRB Monitor, a marijuana intelligence firm that tracks and monitors licenses in the regulated industry.

Total active licenses – including those in regulated medical and recreational marijuana markets – fell 6% from the fourth quarter of 2023 and by 10% from the first quarter of last year.

The latest licensing numbers mark the fifth consecutive quarter of declines; the number of business permits began shrinking in 2022.

License totals declined on a year-over-year basis for the first time in 2023, when the number of active permits fell 4% compared to 2022 numbers.

The licensing declines come after years of nearly double-digit growth in the rapidly expanding marijuana

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MedMen receiver sets date to meet with creditors after cannabis MSO’s bankruptcy filing

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1 week ago

April 30, 2024

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Creditors of cannabis operator MedMen Enterprises will meet in a few weeks as investors seek repayment for hundreds of millions of dollars in outstanding debt.

The cash-strapped company entered bankruptcy proceedings in Canada on Friday and placed its California retail assets in receivership, the first steps to unwind the business and sell off assets in liquidation.

The developments usher in the end of the company’s days as a marijuana multistate operator and cement perhaps the most precipitous downfall in the marijuana industry to date.

With creditors reporting more than 560 million Canadian dollars ($410 million) in claims, MedMen likely represents the largest failure in U.S. and Canadian marijuana retail history.

At one point, the company operated more than 20 stores nationwide, including about

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