Cannabis regulators have moved up their timeline for legal sales in the territory. Joanne Moorehead, executive director of the Virgin Islands Office of Cannabis Regulation, said in January that she hoped to have legal marijuana available late 2026 but Monday said the new target was this autumn.
At the Government House press briefing Monday, Moorehead said the U.S. Virgin Islands had reached an agreement to help growers and sellers finance their operations. The Lt. Governor’s Office found CannaFirst Financial, an arm of Alabama and Mississippi-based Merchants & Marine Bank, for preoperational financing and banking services for the Virgin Islands’ cannabis industry.
“We are happy to announce that CannaFirst Financial, a fully accredited financial institution that does cannabis banking all throughout the United States, is planning to do cannabis banking, business banking here in the territory,” she said.
Moorehead said her office has issued 14 conditional commercial cultivation licenses across the territory — eight on St. Croix, one on St. John, and five on St. Thomas. The office has also issued 11 conditional micro-cultivation permits — five on St. Croix, one on St. John, and five on St. Thomas.
“We expect, and in fact, are working very closely with our commercial cultivators to put seeds and soil by the end of February or the latest the first part of March, which means that, with the conditional dispensary applications and licenses that were approved recently, that’s 10 conditional dispensary licenses: two on St. Croix, three on St. John, and five on St. Thomas,” she said.
With Carnival fast approaching, Moorehead warned against public cannabis consumption.
Moorehead also warned retailers currently carrying hemp-based and synthetic hemp-based intoxicants that new laws require sellers to acquire new permits. She urged retailers to contact her office to learn more.
“The use, the distribution or manufacturing of those products is now prohibited without a license so please contact the office of cannabis regulation with questions so that we can talk about the implementation of Act 9072,” Moorehead said. “Know your rules; know your regulations; give us a call. Send us a message, email, telephone call. We’re here to help everybody get what they would like done within the confines of the law of the rules and regulations. The Office of Cannabis Regulation remains committed to ensuring cannabis activity in the Virgin Islands is lawful, safe and responsibly regulated.”
