New Brunswick Signs Deal With Fourth Company to Boost Marijuana Supply

A total of 185 applications were submitted.
A total of 185 applications were submitted. (File image via Reuters)

The government of New Brunswick has inked a deal with a fourth company to boost the province’s supply of marijuana.  

As Canada readies for a nationwide legalization of marijuana this summer, the Liberal government says a memorandum of understanding has been signed with Nuuvera Inc. (TSXV:NUU), the Canadian Press reported on Tuesday.

The agreement stipulates that these suppliers provide two percent of their gross sales to the government to support its education efforts.

Nuuvera Inc. is the fourth marijuana producer company that will provide New Brunswick with cannabis after Organigram, Canopy Growth Corp., and Zenabis.

Nuvera will supply New Brunswick 2.5 million grams of cannabis and related products for the province’s marijuana market, the company said on its website.

Opportunities NB CEO Stephen Lund said last week that based on average industry forecasts, recreational cannabis sales in New Brunswick could reach $150 million annually, with ancillary markets adding another $440 million.

Opportunities NB is a governmental development organization, whose sole incentive is to spur economic growth and job creation in the province.

Lund said he wanted to see New Brunswick as the “leader” of the cannabis sector in Canada.

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