A Canadian Province Just Announced a 5 Million Gram Marijuana Deal With A Licensed Producer

Article by James McClure, Civilized

A Canadian Province Just Announced a 5 Million Gram Marijuana Deal With A Licensed Producer By James McClure

The government of New Brunswick, Canada just made a landmark marijuana deal. Tomorrow, the provincial government will announce a partnership with Organigram, a federally licensed medical marijuana producer, to supply the province’s cannabis retailers when Canada legalizes recreational use in 2018.

Under the new agreement, Organigram — which is based in Moncton, New Brunswick — will allocate approximately 25 percent of its cannabis supply to stocking the shelves of recreational retailers. That means they will contribute no less than 5 million grams per year to retailers. The deal is valued at $40 million to $60 million.

“We are excited to enter into this MOU with the Province,” Organigram CEO Greg Engel said in a press release. “The Government of New Brunswick has established itself as a leader in the developing marijuana industry, working to ensure that the industry develops in a responsible and effective manner. New Brunswick’s stewardship on this file has been recognized throughout Canada and we are proud to work closely and support them as a strategic partner.”

Engel also congratulated the province on making this bold move to help the province boost the economy and create jobs with the unique opportunity that legalization offers. “We applaud the New Brunswick government’s efforts to foster an innovative, forward-thinking economic climate that supports cannabis as a driver of growth for New Brunswick-based businesses.”

But money isn’t the only thing on their minds. The agreement also includes a plan for Organigram to contribute to social responsibility programs that will educate the public about cannabis and promote public safety when recreational cannabis use becomes legal next year. It’s an opportunity that the company relishes because keeping communities safe has long been one of their top priorities, according to Chief Commercial Officer Ray Gracewood.

“As we move forward under this agreement, we have the opportunity not only to help build a strong and successful cannabis market within the province and beyond, but to also reinforce our company’s commitment to safety and education,” Gracewood said via press release. “The safety of those in our community is of the utmost importance, and we are proud to support programs that will continue to educate the public on cannabis and all of its forms.”

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