The present invention provides methods of extraction of at least one cannabinoid from an initial cannabis biomass in “one-pot” step using toluene to form a toluene extract and using the toluene extract for producing high concentrations of Δ-9-tetrahydrocannabinol (Δ9THC) and/or cannabinol (CBN) of a purity of at least 75% and at a yield of at least 75% by weight of the at least one cannabinoid from the initial cannabis biomass in the toluene extract.