Cannabis Briefs for February 27, 2024

•Bayou City Hemp Company has partnered with Anheuser-Busch distributor Silver Eagle Distributors Houston to roll out its hemp THC beverages in the Houston market. They include Delta-9 THC-infused offerings Howdy, Lil Bit, Beach Break, and Wonder Water. Bayou’s THC-infused beverages are currently available in Houston, Austin, Dallas, Fort Worth, and San Antonio. Bayou recently acquired Houston’s 8th Wonder Brewery and Distillery to develop its cannabis-infused products. Silver Eagle distributes to more than 9,000 accounts in the Houston area.

•Missouri cannabis retailers logged $1.4 billion in the state’s first full year of adult-use sales, ending this month. The vast majority—over $1.1 billion—were in adult-use sales, with medical sales adding approximately $300 million. Peak retail sales occurred in December 2023, when state sales reached $106.5 million. Sales slumped a bit after the holidays, with January 2024 sales dropping to roughly $95 million, less than any month since May 2023. Since the state opened medical sales in October 2020, Missouri has seen over $2 billion in total sales.

•Canopy Growth has launched new pre-rolls from two of its adult-use brands, 7Acres and Hiway. Under 7Acres, Canopy is introducing Smooth Burners 0.7-grams, rolled with specially designed filters that, according to the company, create a slow and smooth smoking experience. The cannabis used in Smooth Burners is related to GMO Zkittlez x Funky Zktlz strains and clocks in at 22% to 28% THC. The company’s Hiway brand is receiving two new products: Hiway Water Hash Infused 0.5-gram pre-rolls and Hiway Roadies 0.35-gram. The former come in packs of three and are made with high THC strains and bubble hash. The latter come in packs of 20 in both Indica and Sativa strains. The new releases from both brands are now available in select markets in Canada.

•Adult-use sales in Delaware have been delayed until 2025. While the state initially aimed to issue lab-testing and retail licenses by November 2024, reporting from Delaware Public Media now says licenses will not be issued until March 2025. The state, according Marijuana Commissioner Robert Coupe, has not finalized how licenses will be issued, with the commission considering a lottery system as well as delaying medical shops from transitioning to retail until new adult-use retailers come online. The delay, according to Coupe, is to ensure that medical patients don’t face shortages as adult-use sales begin.

•Arizona recreational cannabis sales hit $83.5 million in November, with medical sales contributing an additional $25 million. For the 11 months through November, cannabis retail sales were just under $1 billion with medical sales coming in at just over $320 million. Retail sales peaked in March 2023 at roughly $100 million, with most months seeing sales in the $80 million range. Since adult-use sales began in January 2021, the Arizona cannabis market has generated over $4 billion in sales.

Tagged : 7Acres, Bayou City Hemp Company, cannabis, Canopy, Hiway, Silver Eagle

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