A method for modifying cannabinol (CBN) to trans-Δ9-tetrahydrocannabinol (THC) content in a lipid-based extract of cannabis to yield a low-THC product. The method includes providing a lipid-based extract of cannabis containing THC, heating the lipid-based extract at 1 atm of pressure to 157 to 160° C. to vaporize a first portion of the THC, and converting a second portion of the THC to CBN by heating the lipid-based extract to between 130° C.-150° C. for at least 10 min. In one embodiment the step of vaporizing occurs after the step of converting to remove the trans-Δ9-tetrahydrocannabinol from the product.
