First-Ever Private Sellers Enter N.B. Cannabis Market
Badges displayed at stores will prove they are authorized dealers of Cannabis NB products.
Badges displayed at stores will prove they are authorized dealers of Cannabis NB products.
Founder and CEO Tanner Stewart says the cannabis space has a lot of potential that New Brunswick should be striving to take advantage of.
New Brunswickers spent more on more beer and pot over the last four months than they did the previous year.
Sales of edibles, topicals and concentrates grew a combined $1.5 million last quarter, helping to offset a $2.3 million drop in dried flower, extract, and accessory sales.
The Crown corporation was financed by NB Liquor with startup costs and operating losses amounting to about $36 million.
On September 7, Cannabis NB disclosed plans to open 10 private retail stores across the province in Hampton, St. Andrews, Grand Bay, Bouctouche, Caraquet, Dalhousie, St-Quentin, Blackville, Chipman, and Salisbury.
Cannabis NB says the store follows a pop-up format but, unlike a seasonal location in Saint John, it will be a longer-term location.
Cannabis NB won’t admit where its new Saint John store is, but signage in a vacant store and location-specific job ads reveal more than enough information.
A new bill tabled in the legislature November 30 would allow Cannabis NB to expand its model through private retail stores.
Lori Stickles took over the position for good on September 7, after serving as an interim replacement for former CEO and President Patrick Parent, who resigned in 2020 to return to the private sector.