If New Brunswick’s Conservative government finds a buyer for crown REC retailer Cannabis NB, that company will not be required to keep all 20 outlets open. That means as the rest of the country begs for more stores, New Brunswick may lose some.
MJ Biz Daily
- As part of its privatization offering, New Brunswick will allow applicants to their Request For Proposals seeking a single operator to choose which of the 20 stores they include in their bids.
- The RFP stresses “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.”
- All 20 stores are leased until 2033.
Quick Hits
- Quebec’s REC monopoly, the Société Québécoise du Cannabis, which continues slowly expanding its number of stores, made $5M profit on $63.8M revenue during its fiscal Q2, bringing in $17M in taxes and excise duties for the Quebec government during that time. This represented 29% of all REC sales in Canada by weight, with prices as much as 20% less than in other provinces.
TVA Nouvelles, CTV Montreal, Twitter—Caroline Lavoie - Ontario Cannabis Store CEO Cal Bricker said his organization was prepared for the demand that will follow the release of vape, edible, and topical products in the coming weeks.
Bloomberg
