New Brunswick

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Wed
20
Nov

Securities regulators toughen governance disclosures in cannabis industry

 

Securities regulators in several provinces published guidance this month pushing stronger governance-related disclosures on the cannabis industry.

The guidance — from regulators in Ontario, British Columbia, Quebec, New Brunswick, Saskatchewan, Manitoba, and Nova Scotia — is aimed at governance-related disclosures, particularly in the context of mergers, acquisitions and other significant corporate transactions.

Tue
19
Nov

Is a cannabis policy change in New Brunswick good news for tech innovators?

A little over a year ago Canada legalized cannabis nationwide. Canada became the first G-7 nation to legalize cannabis for adult-use.

Uruguay is the only country to have legalized cannabis for adult use prior to Canada doing so, however, Uruguay’s model differs from Canada’s model.

Each province in Canada adopted its own regulatory framework in some aspects, with some provinces allowing robust competition between cannabis companies.

New Brunswick took a different approach.

The Monopoly New Brunswick Model

For the past year, a Crown corporation has served as the sole legal cannabis industry entity in New Brunswick.

Fri
15
Nov

Regulations need to change for private retail cannabis to thrive, says prof

There was a chorus of concern and counsel Thursday from observers and critics of the provincial government's plan to turn Cannabis NB over to the private sector.

From inadvertently assisting the black market to creating a more competitive model, experts and MLAs say privatizing recreational cannabis raises a host of issues that must be addressed before the transition, which could take place early next year.

Finance Minister Ernie Steeves announced Thursday afternoon the province has issued a request for proposals for a single private operator to take over operation and sales from the Crown corporation.

Thu
07
Nov

Cannabis legalization hasn't hurt the black market in N.B

If the legalization of cannabis was supposed to hurt the black market, the new head of Cannabis New Brunswick says it hasn't happened.

In fact, he believes more illegal dispensaries have opened up in the province, and that's curtailing the province's profits from cannabis.

Patrick Parent has been on the job for just over two months, but says the province won't be making money off cannabis this year. 

The exterior of a Cannabis NB retail store is shown in Fredericton, N.B., on Tuesday October 16, 2018. (THE CANADIAN PRESS/Stephen MacGillivray)

Mon
04
Nov

Cannabis NB president says no profit until at least next year

The new president of Cannabis NB -- New Brunswick's Crown-owned cannabis retailer -- says it will be next year or later before the operation can be profitable.

Patrick Parent says the money-losing agency is like any start-up and needs time to mature.

"We are looking at operational improvements. We do recognize there was a price gap with the illicit market. We are aggressively addressing that. I think if you were to go into stores today there are very competitive products. In fact in some cases it is more competitive than in the illegal stores," Parent said in an interview in his Fredericton office Friday.

Thu
31
Oct

Despite improved sales figures, Cannabis NB continues to bleed money

In news that will be a surprise to few, Cannabis NB has continued to bleed money – even with a bump in its second quarter sales.

Unlike that high school buddy who sold dime bags at lunch and always had cash on hand for the dopest sneakers, Cannabis NB has been steadily losing money since it started selling weed.

Fri
25
Oct

Faulty pot: How to return your weed

Be careful what you wish for, especially when placing an order for weed online. Returning it can be a challenge, with policies varying from province to province.

Here’s what the shipping and return policies look like across the country.

British Columbia 

Bought a product that’s defective, shipped in error or recalled? The BC Cannabis Stores will take them back, but returns must be initiated within 15 days of the purchase.

Wed
23
Oct

Chicken pot pie: New Brunswick restaurant serves up cannabis oil-infused wings

A restaurant in Saint John, New Brunswick, is stirring up a buzz by cooking chicken in a creative, albeit questionably legal, manner.

Wed
23
Oct

Maritimes and B.C. more than double sales of retail cannabis as Canadians embrace legalization

The east and west coasts are reaping some of the largest gains in Canadian retail cannabis sales according to the latest figures from Statistics Canada.

B.C. sales nearly doubled from July 2019 to August 2019, leaping from $5.9 million in sales to $11.9 million.

On the other side of Canada, New Brunswick recorded a near 60 per cent gain in the same time period, earning $5.3 million in August 2019 compared to $3.3 million the month before. Newfoundland and Labrador, Prince Edward Island and Nova Scotia also saw double-digit growth.

Fri
18
Oct

O'Cannabis: On the first anniversary of legalization, a cross-country snapshot of where we stand

October 17, 2019, marks the first anniversary of the legalization of cannabis federally in Canada, and the date when the second phase of products — edibles, extracts, topicals and some other alternative cannabis products also become legal. 

Each province and territory were handed the reins for rolling out legalization, and the results in terms of access to legal marijuana are very different for Canadians depending on where they live. This has also had an impact on consumption patterns.

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