Cannabis NB opened its twenty branches in October 2018. A year later, in November 2019, the progressive Conservative government Blaine Higgs A call for bids has been launched to commission a private company for the sale and distribution of recreational cannabis.
After securing and evaluating eight private sector bids, Fredericton made a change of face.
Discussions with the leading promoter are over, and our government has decided that the New Brunswickers’ best decision is to keep the existing Cannabis NB model.
Said mr. The Higgs Through Friday’s press release.
The proposals submitted by the private operators have been evaluated and ranked, according to the provincial government, which says it does not want to provide further details about the final choice of Protect commercial confidentiality for the process and private sector participants
.
In January 2020, the nominations were announced. That of LublauThe, Canadian food giant, was the most amazing. Cannabis companies also participated in the bidding process, including Ontario Canopy growth.
Ad received positively
The decision was welcomed by opposition parties, with the exception of the New Brunswick People’s Alliance, which called for the privatization of the cannabis plant NB. The New Brunswick Medical Association was concerned about the implications of privatization.
However, New Brunswick Liberal Party leader Roger Melanson fears that the government will reverse its decision later, as prime minister. The Higgs Stated that He did not rule out the options that might be available
.
For the time being, however, that file has been closed, he said.
Among the greens, it is hoped that the decision to keep hemp NB in the public domain will open commercial opportunities for small rural hemp producers. Kevin Arseneau, Kent North MP says it will be very important to help workers get organized, just like those at NB Liquor To ensure the working conditions and wages that make it possible to achieve a decent life
.
Sales increased during the last fiscal year
In 2019, Crown financial results were identified. Then Cannabis NB lost about $ 12 million.
In 2021, sales are up 76%. In the fourth quarter of 2020, the company recorded a total sales of $ 19.3 million. Net income for the quarter was $ 2.8 million and the company expects $ 10 million in profit for the full year.
We welcome the interest and participation of the private sector. However, given Cannabis NB’s performance over the past several months, as well as carefully considering the socio-economic impacts of the retail model, we are confident that taxpayers and consumers in New Brunswick can be well served through continuous improvements to the existing model.
The Minister of Finance said: Ernie Steves, Through a press release.
Sophie Laurent is a contributor to Vaughantoday.ca, covering a wide range of topics including local news, politics, business, technology, sports, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting that helps readers stay informed about current events and issues that matter to their communities. Sophie is committed to presenting accurate information, practical insights, and relevant stories in a straightforward and reader-friendly manner, making complex topics accessible to a broad audience.