Prince Edward Island taps marijuana growers; will use government-owned shops

Prince Edward Island has tapped three licensed producers to provide it with marijuana, whereas the province plans to promote adult-use hashish merchandise by way of 4 government-owned shops when gross sales are legalized this yr.

The transfer means neighboring Newfoundland will be the one province east of Manitoba to contain the personal sector in marijuana gross sales.

In saying its plans, PEI stated it locked up provide offers with three licensed producers – Ontario-based Canopy Growth, New Brunswick-based Organigram and PEI-based Canada’s Island Garden.

Organigram (TSE: OGI) and Canopy (TSE: WEED) will every provide 1,000 kilograms of marijuana. Canada’s Island Garden didn’t instantly reply to media queries

Financial phrases of the preparations weren’t disclosed.

“There will be a limited supply for the first few years of the adult recreational program,” Organigram CEO Greg Engel stated.

“So I believe that many provinces are being proactive in locking in a portion of their anticipated supply to ensure they have a (stable) supply when the program launches.”

The government-owned retail shops will be situated in Charlottetown, Summerside, Montague and West Prince.

The provincial authorities stated it will gauge gross sales and weigh any future enlargement plans.

Matt Lamers could be reached at [email protected]

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