Earlier this month, Missouri governor Mike Parson signed an executive order outlawing intoxicating hemp products and imposing penalties for any establishment that sells food products or a state liquor license found selling these products. The order also prohibits companies such as Mighty Kind Co. from producing THC beverages derived from hemp in the state.
Mighty Kind Co. manufactures different kinds of hemp seltzers. Prior to this order, hemp drinks were permitted for sale in the state outside of licensed marijuana dispensaries following the passage of the 2018 Farm Bill.
The executive order signed by Governor Parson takes effect on Sept. 1, 2024. During a recent press conference, Parson explained that the primary target of his order was companies that produced intoxicating hemp edibles which could be accessed by children. He added that there were no state or federal laws to regulate intoxicating hemp-derived products.
The hemp industry considers this move by the governor as an overreach, particularly since almost 9,000 retailers in Missouri are selling hemp-derived edibles and beverages in the state.
Krey Distributing owner, Steven Busch, revealed that players in the industry agreed that retailers selling these products to underage consumers needed to be removed from the market. However, he continued, Parson didn’t consider the impact banning all hemp-derived products would have on thousands of grocery stores, liquor stores and bars. This, he noted, bordered on the unethical. Krey Distributing distributes 11 different hemp drinks in the eastern part of the state.
This sentiment is shared by others, including Mighty Kind Co. owner, Joshua Grigaitis. Grigaitis argued that making such a move without any kind of bill or voting would greatly affect many involved in the industry, including his own company. He added that he didn’t believe this executive order would have the effect the governor hoped for.
It should be noted that under federal law, Parson can’t punish individuals who consume these products. Through the order, however, the state can penalize retailers regulated to sell food or alcohol in the jurisdiction.
In addition, licensed marijuana dispensaries can’t sell these products because the hemp used to manufacture them has to be cultivated in the state and processed in licensed growing and manufacturing facilities, just like cannabis. At the moment, almost all products in the market are manufactured from hemp cultivated in other states.
Additionally, the executive order allows residents in the state to purchase these products online from businesses in other states. It is expected that a suit will be filed challenging the governor’s order, with one attorney noting that Parson’s strategy is unprecedented.
Entities that have an interest in compounds such as CBD derived from hemp, such as Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ), will likely take an interest in the happenings in Missouri and how those developments could influence the regulatory direction in other states.
NOTE TO INVESTORS: The latest news and updates relating to Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) are available in the company’s newsroom at https://cnw.fm/SFWJ
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