Fourth company signed to supply cannabis for recreational market15 January 2018
FREDERICTON (GNB) – A memorandum of understanding has been signed with Nuuvera Inc. to supply the provincial government with cannabis for the recreational market. The agreement was reached as the federal government prepares to legalize the recreational use of cannabis later this year.
“As we get closer to the federal government’s July 2018 implementation date, we continue to work diligently to ensure the legalization of recreational-use cannabis is introduced in a safe and secure manner,” said Finance Minister Cathy Rogers. “Our government has introduced a legislative framework that prioritizes health and safety while putting measures in place to get the profits of cannabis out of the hands of criminals. Ensuring we have a secure and safe supply when we enter the retail market is an important component of this.”
This is the fourth memorandum signed to secure cannabis for the recreational market. Agreements have also been signed with three other cannabis producers: Organigram, Canopy Growth Corp. and Zenabis. The agreements have been signed with the Crown corporation mandated to oversee, conduct and manage the retailing of recreational-use cannabis in New Brunswick.
One of the commitments in the memorandums is that suppliers will provide two per cent of their gross sales to the government to support its efforts with respect to education and awareness. This funding will support the Cannabis Education and Awareness Fund Act.