New Brunswick crown REC retailer Cannabis NB is finally looking healthy.The company posted its first quarterly profit, thanks in part to COVID-19-related sales surges.
CBC New Brunswick
- This time last year, Cannabis NB was having such trouble becoming profitable that the University of New Brunswick Saint John offered a third-year course studying the failing REC monopoly.
CTV News, CBC New Brunswick - By November, Conservative premier Blaine Higgs announced his government’s plan not to open private REC retail competition in New Brunswick, but rather to lease operations of the Cannabis NB monopoly to a single company.
MJ Biz Daily, CBC New Brunswick
After Cannabis NB shifted focus to lower-cost offerings, however, its sales began to increase.
CBC New Brunswick
- Applications from the eight private companies vying to take over New Brunswick’s REC monopoly were delayed due to COVID-19, but the government announced last week they are reviving the process of evaluating potential buyers.
MJ Biz Daily - Thanks to its steadily improving fortunes, Cannabis NB is now performing better than some of the REC companies that pledged to take it over.
CBC New Brunswick
