Will Cannabis NB be sold soon?

Growth op

Cannabis NB could be a thing of the past if the New Brunswick government opts to move forward with selling the provincial retailer, negotiations around which have been ongoing since last fall. Global News reports the N.B. government has been in talks with a potential suitor since October. At that time, “negotiations started with the top-ranked proponent,” and the agency is in the final stages of negotiations at this time, said Cheryl Hansen, deputy minister of the Department of Finance and Treasury Board. Cannabis NB lost $12.5 million during its first year of operation. Agency officials cited numerous factors for failing to emerge from the red as was hoped, including a lack of progress on fighting back against the highly profitable illicit market. New Brunswick’s Liberal leader says he won’t sell Cannabis NB if he wins September election New Brunswick liquor and cannabis stores screen for COVID-19 Government-run pop-up shop featured during cannabis expo in Moncton The situation even elicited a recommendation from Michael Armstrong, an associate professor at Brock University, that Cannabis NB needed to get its prices down and quality up to attract people away from the illegal market. Financial woes continued and by the late fall of 2019, Cannabis NB put out feelers for weed selling rights in the province. “This is not a sale of the existing business, Cannabis NB, but, rather, the sale of the rights to operate recreational cannabis retail, wholesale/distribution and e-commerce in the Province of New Brunswick on an exclusive basis over a period of 10 years, with two five-year renewal periods,” noted the province’s request for proposal . At the time, eight companies had submitted their applications to vie for the opportunity, namely Canopy Growth Corporation, Fire & Flower Inc., Green Stop Cannabis Ltd., Kiaro Brands Inc., Loblaw Companies Limited, New…

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