Quebec signs weed supply agreements with six Canadian suppliers

East Side Games

11/04/2018 14:44

By Nichola Saminather
    TORONTO, April 11 (Reuters) - Hydropothecary Corp  THCX.V ,
Canopy Growth  WEED.TO  and Aphria Inc  APH.TO  are among six
companies that have signed agreements with Quebec's liquor board
to supply the province with marijuana when Canada legalizes its
recreational use this year, the companies said in separate
statements on Wednesday.
    MedReleaf Corp  LEAF.TO , Aurora Cannabis  ACB.TO  and
private equity firm Privateer Holdings-backed Tilray Canada are
the other companies to sign the deal to supply the province's
cannabis board, which will be created as a subsidiary of the
liquor board to oversee marijuana sales.
    The companies will supply as much as 62,000 kg (136,687
pounds) of marijuana in total to the province in the first year.
Most of the agreements are for at least three years.
    Hydropothecary would be the biggest supplier, with a
five-year agreement and agreed sales of 100,000 kg in the first
three years. The province plans to open 20 government-run stores
upon legalization.
    Canada's senate is set for a final vote on legalizing
marijuana on June 7, with sales expected to start in the fall.
Provinces, including Quebec and Ontario, plan to open
government-run stores, while others such as Alberta and
Saskatchewan will allow private ones. British Columbia plans to
have both.  urn:newsml:reuters.com:*:nL3N1R15ET urn:newsml:reuters.com:*:nL1N1NM1L4

 (Reporting By Nichola Saminather; editing by Jonathan Oatis)
 ((Nichola.Saminather@thomsonreuters.com; +1-416-687-7604;))