With the Picture Province estimating that recreational legalization will create hundreds of new jobs and generate up to $150 million annually in recreational sales, the province has named the fourth New Brunswick recreational cannabis supplier.
On Jan. 15, 2018, New Brunswick announced that it had signed a memorandum of understanding with Nuuvera Inc. (TSXV: NUU) for the company to supply the provincial market with recreational cannabis.
“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,” said Finance Minister Cathy Rogers in a press release. “Ensuring we have a secure and safe supply when we enter the retail market is an important component of this.”
According to Nuuvera, the company is responsible for supplying the New Brunswick recreational market with 2.5 million grams of cannabis flower and oil.
“We are pleased to finalize this important MOU with New Brunswick,” said Lorne Abony, CEO of Nuuvera, in a press release. “Not only is it the result of productive and open negotiations, but it is an endorsement of the way Nuuvera operates and what we stand for. We will keep working with the Government of New Brunswick, and governments across Canada, to help create a safe, high-quality industry that meets the needs of all cannabis consumers.”