FireStarter: Village Farms Exports Up 75%, Hemp Rules Hit Nov. 12, Canada Cuts Cannabis Stamps

FireStarter The cannabis business news that matters, before your first meeting No. 6 · Mon, Nov 9

Good morning. Village Farms opens the week’s earnings, and three hemp deadlines land Thursday. Here’s what moved since Friday morning.

1Village Farms posts record cannabis sales as exports climb 75%

Village Farms International reported third-quarter cannabis sales of $55.0 million on Monday, a record for the company and up 3% from $53.5 million a year earlier. Total sales were $66.9 million, compared with $66.7 million, according to the company’s release.

International exports drove the gain. Export sales rose 75% to $20.8 million from $11.9 million. Canadian non-branded sales were $3.3 million, compared with $7.3 million, and Canadian branded sales were $25.3 million, compared with $26.8 million. Cannabis gross margin was 48%, compared with 55%. The company attributed the margin difference mainly to a softer spot market for trim in the Canadian wholesale channel.

Net income attributable to shareholders was $10.0 million, or $0.08 per share, compared with $10.2 million. Adjusted EBITDA from continuing operations was $18.2 million, compared with $20.7 million. CEO Michael DeGiglio said the company “delivered our sixth consecutive quarter of positive net income and EPS.” Management said it believes trim volumes and pricing “reached trough levels” in Q3, and it is mobilizing its 30-acre Monahans, Texas, greenhouse for cannabis production as part of a U.S. entry effort.

What to watchWhether Canadian wholesale pricing normalizes in Q4, as management expects, and how fast the Netherlands Phase II facility adds sales.

2Hemp’s Nov. 12 deadlines: Illinois lawsuit, Missouri law, federal synthetic ban

Thursday is a hard date for hemp in two states. In Illinois, the Illinois Healthy Alternatives Association, a trade group it says represents 250 companies, and several hemp businesses filed for a temporary restraining order and preliminary injunction on Nov. 5. They want to stop provisions of the Illinois Hemp Act from taking effect on Nov. 12, arguing the law violates the U.S. Constitution’s Commerce Clause, WICS/WRSP reported. The filing says the act would “immediately and unconstitutionally slam shut access to Illinois markets by out-of-state companies.”

In Missouri, House Bill 2641 takes effect the same day. It caps finished hemp-derived cannabinoid products at 0.4 mg of THC per container and routes intoxicating products through the licensed marijuana system, the Missouri Independent reported via Marijuana Moment. Attorney General Catherine Hanaway announced four lawsuits against retailers accused of selling marijuana as hemp, and a federal judge dismissed an industry challenge to the law, ruling it had not yet taken effect. “You’re going to see more lawsuits,” Hanaway said.

At the federal level, the broad ban on most hemp THC products was pushed from Nov. 12 to Dec. 11 by a funding bill signed in September, Marijuana Moment reported. Synthetic cannabinoids “that are not capable of being naturally produced by a Cannabis sativa L. plant” are still set to be banned on Nov. 12.

What to watchWhether an Illinois court rules on the restraining order before Thursday, and whether the Missouri plaintiffs appeal.

3Texas appeals court cancels hemp-rules arguments after election

Texas’ 15th Court of Appeals canceled oral arguments set for Dec. 8 and 9 in four cases, including a challenge to state rules limiting sales of THC-containing hemp products, The Texas Tribune reported, as republished by Marijuana Moment on Nov. 7. The court said the cases will be reset “at a later date.”

Voters ousted all three Republican justices on the court on Nov. 3, and three Democrats take office in early January. Justice Scott Field told Bloomberg Law, as quoted by the Tribune, “We know we can’t get the opinion out for cases orally argued before the end of the year.”

The Department of State Health Services rules include a purchase age of 21, new testing and labeling requirements, and licensing fees of $10,000 per manufacturing facility, up from $258. A Travis County district judge temporarily blocked the rules on April 10 while the industry’s lawsuit proceeds.

What to watchWhen the new court resets the hemp case, and whether the Legislature acts first when it convenes in January.

4Ottawa proposes cutting cannabis excise stamps from 13 to 6

Canada’s Budget 2026 proposes a common cannabis excise duty stamp for all provinces and territories that share the same duty rate. The budget says this “would reduce the number of unique cannabis excise duty stamps from 13 to 6.” The common stamp would become available to licensed producers on Jan. 1, 2028.

The eight jurisdictions covered are British Columbia, Quebec, New Brunswick, Prince Edward Island, Nova Scotia, Newfoundland and Labrador, Yukon and the Northwest Territories. Alberta, Saskatchewan, Ontario and Nunavut are invited to join and have until Jan. 31, 2027 to say so, according to the budget. The Marijuana Herald reported that producers could use either stamp through June 30, 2029, and that the plan remains a proposal until legislation passes.

Village Farms said in a Nov. 6 release that it welcomed the measure.

What to watchWhether Ontario and Alberta opt in by the January deadline. In our view, their choice decides how much the change actually simplifies packaging.

5Virginia’s adult-use market sized at about $1.05 billion a year

A report prepared for the Virginia Cannabis Control Authority by Cannabis Public Policy Consulting estimates Virginia residents spend about $1.054 billion a year on cannabis, with a range of roughly $835.7 million to $1.27 billion. The October report counts 872,216 adults 21 and older who used cannabis in the past month. The Marijuana Herald reported the findings on Nov. 6.

Under its base case, the report estimates the market could support 135 retail licenses, with a range of 107 to 163. It says the analysis “supports retaining Virginia’s statutory maximum of 350 retail licenses” and suggests a phased rollout. Adult-use sales are scheduled to begin July 1, 2027, The Marijuana Herald reported.

The spending estimate covers Virginia residents only and excludes tourists and out-of-state buyers, the report notes.

What to watchHow the Cannabis Control Authority uses the license ranges as it writes rules and begins licensing in 2027.

6Maryland tops $1 billion in 2026 cannabis sales

Maryland passed $1 billion in 2026 cannabis sales once October is counted, The Marijuana Herald reported on Nov. 6. Sales from January through September totaled $917.23 million, and a Maryland Cannabis Administration spokesperson put October above $83 million.

It is the third straight year above $1 billion, and the state reached the mark a month earlier than in 2025, according to the report. September sales were about $101.5 million, up about 8.3% from $93.7 million a year earlier. Sales for all of 2025 were about $1.174 billion.

What to watchThe finalized October figure. If October finishes near $83 million, November and December need a combined $174 million or so to beat 2025, about $87 million a month.

7Tribal governments ask DOJ to rewrite the rescheduling order

The National Congress of American Indians says the Justice Department “failed to engage in Tribal consultation” before moving state-licensed medical marijuana to Schedule III, Marijuana Moment reported on Nov. 6. The group adopted a resolution at its October convention.

NCAI says the April order signed by Attorney General Todd Blanche “does not specifically mention Tribes or Tribally regulated medical cannabis programs.” It asks DOJ to start consultation right away and either amend the order to cover tribally licensed products or issue a separate rule moving them to Schedule III.

Separately, DEA and rescheduling opponents filed what are expected to be final briefs on Nov. 5 in the hearing on broader rescheduling, Marijuana Moment reported. Chief Administrative Law Judge Derek Julius has not set a date for his recommendation.

What to watchWhether DOJ responds to the tribal request before the Nov. 29 supply-chain deadline for timely Schedule III applicants.

8Massachusetts Senate passes medical cannabis access for veterans

The Massachusetts Senate voted 35-4 to pass an amended supplemental budget bill that would let veterans register as medical cannabis patients by showing “official documentation from the Veterans Administration indicating a diagnosis of a debilitating medical condition,” Marijuana Moment reported on Nov. 6. The Cannabis Control Commission could not require a separate certification from a healthcare provider.

The bill also adds PTSD, opioid use disorder and “a medical condition that produces chronic pain” to the state’s list of qualifying conditions.

What to watchThe House must agree to the Senate’s changes before the bill goes to Gov. Maura Healey.

9New Hampshire lawmaker drafts a new legalization bill

State Rep. Jared Sullivan, a Democrat who sponsored the legalization bill that passed the House this year, is drafting a new one after Democrats won both legislative chambers, The Marijuana Herald reported, citing WMUR. “There’s obviously room for negotiation if there’s something that can make this bipartisan,” Sullivan told WMUR.

Democrats are projected to hold 292 of 400 House seats and 15 of 24 Senate seats. Republican Gov. Kelly Ayotte, who was reelected, opposes adult-use legalization. A veto override needs two-thirds of each chamber, so Senate Democrats would need at least one Republican vote, according to the report. The Republican-led Senate tabled the earlier bill, HB 186, 15-9 in March.

What to watchWhether Sullivan’s draft is written to win Ayotte’s support or to survive a veto.

10MediPharm clears an EU step for its cannabis inhaler

MediPharm Labs received a positive Article 117 Notified Body Opinion from BSI Group The Netherlands for the device part of its metered-dose cannabis inhaler, the company said in a Nov. 5 release. CEO Greg Hunter called it “an important regulatory milestone for our inhaler.”

The opinion is an EU requirement for medicines with an integral device. It is not a product approval. MediPharm plans to launch three products in the U.K. and selected European markets in 2027, subject to country-specific approvals and import permits, with Blackpoint Limited handling distribution.

What to watchWhich country grants the first import permit, and when.
Also on our radar
  • Kentucky’s medical cannabis program passed 30,000 cardholders, with 27 retailers open, Lt. Gov. Jacqueline Coleman said. (Marijuana Moment)
  • The EU’s top court ruled CBD foods can’t be labeled organic because CBD lacks novel-food authorization. (Ganjapreneur)
  • A Virginia Republican senator filed a resolution seeking a Senate review of Sen. Louise Lucas, who faces federal marijuana and fraud charges and has accused federal authorities of trying to intimidate her. (Marijuana Moment)
  • Michigan regulators announced a voluntary recall of The Gummie Joint’s Naked Hippie – Lucky Berry gummies after customer complaints. (Michigan CRA)
  • South Dakota doubled its medical edible limit to 100 mg of THC per serving, effective Nov. 5. (The Marijuana Herald)
The week ahead
Nov. 9Village Farms Q3 call, 8:30 a.m. ET. WM Technology reports Q3 after the market closes.
Nov. 11MariMed reports Q3 after the close. Its call is Nov. 12 at 8 a.m. ET.
Nov. 12Federal ban on synthetic cannabinoids takes effect. Illinois Hemp Act provisions and Missouri’s HB 2641 take effect. Auxly reports before the open (call 10 a.m. ET). Charlotte’s Web reports before the open. Ascend Wellness reports and holds its call at 5 p.m. ET.
Nov. 20Tennessee Medical Cannabis Commission meets, 9 a.m. CT, in Nashville.
Nov. 29DEA deadline for timely Schedule III applicants to set up compliant supply chains.
Dec. 11Federal ban on most hemp THC products takes effect, after a one-month delay.
That’s the weekend caught up. Thursday brings three hemp deadlines and more earnings, and we’ll be on it.

— Elliot
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Sources: GlobeNewswire: Village Farms International Reports Q3 2026 Results Driven by Record Cannabis Revenues, Finviz/GlobeNewswire: Village Farms Applauds Budget 2026 Common Cannabis Excise Stamp, WICS/WRSP NewsChannel 20: Illinois Healthy Alternatives Association, hemp businesses file for TRO and injunction to stop Illinois Hemp Act, Marijuana Moment: Missouri Attorney General Cracks Down On Unlicensed Cannabis Sales As Judge Dismisses Challenge To Hemp Restrictions, Marijuana Moment: Illinois Governor And US Senator Push For Federal Hemp THC Product Ban To Take Effect Without Further Delay, Marijuana Moment: Texas Court Cancels Arguments In Case Challenging Hemp Rules After Democratic Justices Win Election, Government of Canada: Budget 2026, Chapter 6, The Marijuana Herald: Canada Proposes Major Marijuana Tax Reform, Slashing Required Excise Stamps From 13 to Six, Virginia Cannabis Control Authority / Cannabis Public Policy Consulting: Report RD759, The Marijuana Herald: State-Commissioned Report Estimates Virginia’s Annual Marijuana Market at Up to $1.27 Billion, The Marijuana Herald: Maryland Marijuana Sales Top $1 Billion in 2026, Marijuana Moment: Trump Administration Should Rewrite Marijuana Rescheduling Rule To Include Tribes, American Indian Group Says, Marijuana Moment: DEA And Marijuana Rescheduling Opponents File Final Briefs In Hearing Ahead Of Judge’s Decision, Marijuana Moment: Massachusetts Senate Passes Bill To Let Military Veterans Get Medical Marijuana Without A Doctor’s Recommendation, The Marijuana Herald: New Hampshire Lawmaker Drafting New Marijuana Legalization Bill After Democrats Win Legislature, Green Stock News/GlobeNewswire: MediPharm Labs Achieves Critical European Regulatory Milestone, Marijuana Moment: Kentucky’s Medical Marijuana Program Hits New ‘Milestone’ With 30,000+ Cardholders, Ganjapreneur: EU Court Says CBD Products Can’t Be Labeled Organic, Marijuana Moment: GOP Virginia Senator Wants Investigation Of Top Democrat Accused Of Federal Marijuana And Fraud Charges, Michigan CRA: Public health and safety advisory, voluntary product recall, The Marijuana Herald: Daily Cannabis News Brief for 11/6/2026, Stock Titan: WM Technology, Inc. to Announce Third Quarter 2026 Financial Results, Stock Titan: MariMed Announces Third Quarter 2026 Earnings, Yahoo Finance: Auxly to Report Third Quarter 2026 Financial Results on November 12, 2026, TradingView/Newsfile: Charlotte’s Web to Report Third Quarter 2026 Results on November 12, Pluang: AWH Q3 2026 earnings conference notice, Tennessee Department of Health: TN Medical Cannabis Commission Meeting, Cannabis Business Times: DEA Rules for Schedule III Medical Cannabis Registrants Pose Major Disruptions to State Programs

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Elliot Lane
November 9, 2026
President and Co-Founder of IgniteIt, where he leads the company’s cannabis events strategy. Previously SVP at Benzinga, where he helped build its cannabis business.
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