Tag: Business

Newfoundland to Receive Over 35,000 Pounds of Weed for Two Years

Licensed marijuana producer Canopy Growth continues to dominate the impending legal landscape for cannabis in Canada.

This time, the pot cultivator secured a deal with Newfoundland to supply the Atlantic province with 16,000 kg (approximately 35,274 pounds) of marijuana over the first two years of legalization. The agreement between the province and the producer also includes a one-year extension option.

Once legalization is a reality, which is expected in July 2018, Canopy will ship the supply of cannabis from its various manufacturing locations, with a plan in place to build a Newfoundland-based facility at a later date.

The eventual expansion will cost approximately $40 million to build and will bring 145 new jobs to the province.

The new facility is expected to produce 12,000 kg (26,455 pounds) of pot per year starting in 2019, but the bigger news comes in the form of a retail agreement between the two parties.

Along with the aforementioned line items, Canopy is expected to open four retail stores in Newfoundland to sell its products. This portion of the agreement marks the first time a licensed producer in Canada would own and operate marijuana retail locations, with one of them expected to be at the production facility.

“Our intent is to produce far more than we’re actually going to be able to sell here because I think branded product coming from Newfoundland is going to be a very successful commercial enterprise,” said Bruce Linton, chairman and CEO of Canopy Growth in a statement to the media.

The exact address of the cultivation and manufacturing plant have yet to be determined but the company says it is scouting locations now.

On Sept. 15, the company announced a similar deal with the province of New Brunswick to supply 4,000 kg (8,818 pounds) per year for at least two years.

Photo courtesy of Kenny Louie

 

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Shoppers Drug Mart Wants to Sell Weed Online in Canada

Canada’s largest pharmacy chain has just entered into a partnership that could see the retailer selling medical marijuana online across the country. Shoppers Drug Mart has a retail footprint of over 1,200 stores in the Great White North and it’s no secret the company has been looking to enter the cannabis sector for some time. […]

 

Start a Marijuana Business Today: CertificationClinics.com™ offers a comprehensive business model for recommending Medical Marijuana Certifications and/or Dispensary Ownership in your area. The CertificationClinics.com™ Business Support staff will educate you in every of the growing medical marijuana industry, providing you a fully operational and profitable enterprise. Learn More »

Canadian Feds May Share More Tax Revenue Than Originally Planned

The federal government of Canada may be willing to give the lion’s share of tax revenue from legal marijuana to the provinces and territories, The Canadian Press has learned. On Nov. 10, the feds announced a proposal to apply an excise tax on marijuana at $1 per gram with the estimated revenue from the tariff […]

 

Start a Marijuana Business Today: CertificationClinics.com™ offers a comprehensive business model for recommending Medical Marijuana Certifications and/or Dispensary Ownership in your area. The CertificationClinics.com™ Business Support staff will educate you in every of the growing medical marijuana industry, providing you a fully operational and profitable enterprise. Learn More »