Six Companies Get Deal to Supply Quebec with Cannabis
In 2018, Canada’s first year of recreational cannabis legalization, the reserve of dried cannabis for sale will be at least 136,687lbs of product. On Wednesday the province’s liquor control board announced its deals with six companies to supply cannabis and other associated products.
Liquor board spokeswoman Linda Bouchard said, “It’s a rapidly changing market, and we’ve gone beyond that target [of 50 estimated tonnes] to avoid stock shortages.”
The biggest supplier will be Hydropothecary Corp. with a supply of 20,000 kilograms of product (44,093lbs) in the first year. This news that the corporation will be supplying the Canadian government with cannabis brought their stock on the TSX exchange to rise by $0.17. An important note of distinction is that Hydropothecary will supply 8,000 more kilograms than the next suppliers, Aphira and Canopy Growth.
Aphira and Canopy Growth will both provide the province with 12,000 kilograms each (26,455lbs).
The last three companies will provide less than 10,000 kilograms (22,046lbs) each. MedReleaf is contracted to provide a minimum of 8,000 kilograms (17,637lbs). The smallest two amounts are from the last two companies, Aurora Cannabis and Tilray are to provide 5,000 kilograms (11,023lbs) each.
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