Whoever Takes Over Cannabis NB Will Need to Reduce Prices: Consumers, Experts

Article by Sarah Ratchford, Growth Op

NEWS Whoever takes over Cannabis NB will need to reduce prices: Consumers, experts "I don’t understand why governments across Canada are veering away from competitive markets,” says Dr. Anindya Sen, economics professor at the University of Waterloo By Sarah Ratchford New Brunswick cannabis stores CP-Web. When cannabis becomes legally available to buy on Oct. 17, 2018, residents can make their purchases at 20 Cannabis NB retail stores across the New Brunswick. An employee leaves the location in Rothesay, N.B. on Sunday, Oct. 14, 2018. THE CANADIAN PRESS/Andrew Vaughan ORG XMIT: XAV103 Eight companies have expressed an interest in taking over the struggling Cannabis NB corporation. Andrew Vaughan Cannabis NB opened 20 stores across the province when recreational pot was legalized by the federal government. Photo: Twitter

On a Saturday afternoon midway through January, it’s about -20 C, and one of Saint John, N.B.’s unlicensed cannabis shops has a huge lineup that almost spills out of the door.

Down the road, the licensed Cannabis N.B. store has a near-empty parking lot. After a $16.2 million loss in its first 50 weeks, something needs to change. That’s why New Brunswick’s government put out a request for proposals in November with the hope that a private company will take over. Eight companies responded to the call: Canopy Growth; Loblaw Companies; Fire & Flower; Green Stop Cannabis; Kiaro Brands; New Brunswick Association of Cannabis Distributors; RSL NB, and YSS Corp.

Read the full article here.

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