Among the many questions facing Canadian provinces as the country speeds toward its July 1 cannabis-legalization deadline: Where will all this freshly legal recreational cannabis come from?
Late last week, New Brunswick stepped up with an answer, announcing multimillion-dollar deals with a pair of federally licensed medical marijuana producers. New Brunswick’s Organigram Holdings will supply the province with five million grams of cannabis a year, and Ontario’s Canopy Growth Corp. will provide an additional four million grams per year.
Together, the two producers will sell New Brunswick over $90 million worth of cannabis annually. “As part of their supply agreements with New Brunswick, Canopy and Organigram said they will help fund public education or social programs,” reports the Financial Post. (The Post also notes that shares of both Canopy and Organigram rose on the day of the deal’s announcement, “closing up by 2.09 per cent and 16.74 per cent, respectively.”)