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New Brunswick signs cannabis deals with Canopy Growth and Organigram

New Brunswick signs cannabis deals with Canopy Growth and OrganigramNew Brunswick entered in Memorandums of Understanding (MOUs) with two large producers of cannabis to guarantee a reliable supply for New Brunswick stores in anticipation of Canada’s nationwide recreational legalization in July 2018.

The MOU gives Canopy Growth (TSX: WEED), based in Ontario, a two-year supply agreement into New Brunswick, including 4 million grams in the first year, with an expected retail value of $40 million.

Organigram (OTCQB: OGRMF) TSX Venture: OGI), a Moncton, New Brunswick-based company, stated that it’s MOU was to supply 5 million grams per year. The company did not indicate a limit on the number of years for the supply deal. The company expects to dedicate 25% of its production capacity to fulfilling this deal.

Sources: Canopy Growth and Organigram

New Brunswick signs cannabis deals with Canopy Growth and Organigram

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