Cannabis NB explained

Cannabis NB
Type:Crown corporation
Industry:Retail
Foundation:[1]
Hq Location Country:Canada
Locations:26
Products:Cannabis sales and distribution
Net Income:$5.1 million (1st quarter 2023)[2]
Parent:New Brunswick Liquor Corporation
Owner:Government of New Brunswick

Cannabis NB (CNB) is a Crown corporation responsible for retail sales of cannabis products in the Canadian province of New Brunswick.[3] [4] It is incorporated as a subsidiary of the New Brunswick Liquor Corporation.[5]

History

In 2017, the New Brunswick government announced the establishment of up to 20 cannabis distributor locations in 15 communities, all operated by NB Liquor.[6] By December 2017, 11 of these locations were granted and were to be opened in July 2018.[7]

Cannabis NB was established in 2018, following the introduction of the Cannabis Act, legalizing cannabis use across Canada.[8] After initially struggling financially, Cannabis NB started profiting towards the end of 2019 and fully paid off $37 million from startup costs in February 2022.[9]

External links

Notes and References

  1. News: Cromwell . Andrew . Cannabis NB officials pleased with opening day sales - New Brunswick Globalnews.ca . 28 August 2023 . Global News . October 17, 2018.
  2. Web site: FINANCIAL HIGHLIGHTS . Cannabis NB . 28 August 2023.
  3. News: Staff . Huddle . Cannabis NB Makes Way For 10 Privately Run Stores . 28 August 2023 . Huddle.Today . 7 September 2022 . en-CA.
  4. Web site: Cannabis NB . Granite Centre Moncton . 28 August 2023.
  5. Web site: Government of New Brunswick . Canada . Cannabis Management Corporation . www2.gnb.ca . 28 August 2023 . en . 8 February 2022.
  6. News: Poitras . Jacques . NB Liquor to sell recreational cannabis in stand-alone pot stores . 28 August 2023 . October 25, 2017.
  7. News: Government of New Brunswick . Canada . REVISED / Update on Cannabis NB retail locations . 28 August 2023 . www2.gnb.ca . 19 December 2017 . en.
  8. News: Huizinga . Raechel . A nautical-themed weed store? Get ready for N.B.'s new cannabis era . 28 August 2023 . CBC . August 18, 2023.
  9. News: Macdonald . Sam . After Rocky Start, Cannabis NB Is Debt-Free And Profiting . 28 August 2023 . Huddle.Today . 22 March 2022 . en-CA.

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