Indopedia All Things Marijuana
Licensed marijuana producer Canopy Growth continues to dominate the impending legal landscape for cannabis in Canada.
This time, the pot cultivator secured a deal with Newfoundland to supply the Atlantic province with 16,000 kg (approximately 35,274 pounds) of marijuana over the first two years of legalization. The agreement between the province and the producer also includes a one-year extension option.
Once legalization is a reality, which is expected in July 2018, Canopy will ship the supply of cannabis from its various manufacturing locations, with a plan in place to build a Newfoundland-based facility at a later date.
The eventual expansion will cost approximately $40 million to build and will bring 145 new jobs to the province.
The new facility is expected to produce 12,000 kg (26,455 pounds) of pot per year starting in 2019, but the bigger news comes in the form of a retail agreement between the two parties.
Along with the aforementioned line items, Canopy is expected to open four retail stores in Newfoundland to sell its products. This portion of the agreement marks the first time a licensed producer in Canada would own and operate marijuana retail locations,…
