New Brunswick weed retail rights no longer on selling block, as Cannabis N.B. model retained

Growth op

The New Brunswick government has opted to pull back away from its search for a private company to take over the province’s cannabis retail, with the move attracting mostly support, but also a call to reset the current approach. On Friday, the provincial government announced it had discontinued its request for proposal (RFP) process — which kicked off in the late fall of 2019 and was rumoured to be down to one serious suitor — for privatizing recreational cannabis retail in New Brunswick. The idea had been to attract a single private operator to assume cannabis retail rights currently held by Cannabis NB. Up for sale was not Cannabis NB, but, rather, the rights to operate recreational cannabis retail, wholesale/distribution and e-commerce in the province on an exclusive basis over a period of 10 years, with two five-year renewal periods. Will Cannabis NB be sold soon? Whoever takes over Cannabis NB will need to reduce prices: Consumers, experts New Brunswick’s Liberal leader says he won’t sell Cannabis NB if he wins September election By the time the RFP deadline came in January 2020, it had attracted applications from eight companies: Canopy Growth Corporation, Fire & Flower Inc., Green Stop Cannabis Ltd., Kiaro Brands Inc., Loblaw Companies Limited, New Brunswick Association of Cannabis Distributors, RSL NB and YSS Corp. The name of the suitor that made it the most recent negotiations with the province has not been formally named. “Discussions with the top-ranked proponent have concluded and our government has decided that the best approach for New Brunswickers is to continue with the Cannabis NB model that is now in place,” Premier Blaine Higgs said in a statement Friday , offering his thanks for the input received and the patience of parties involved. Telling reporters Friday that there was no penalty…

Excerpt only …
Source : New Brunswick weed retail rights no longer on selling block, as Cannabis N.B. model retained

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.