48 hours after legalization in Canada, Cannabis NB (private), or Cannabis New Brunswick, sold nearly $1 million worth of marijuana. President and CEO Brian Harriman announced his company's sales yesterday.
Cannabis NB Sales
Between October 17th and October 18th, Harriman told CBC that his company brought in $872,758 in in-store sales. Online purchases accounted for the remaining $71,083. In total, Cannabis NB sold nearly $945,000 worth of cannabis in that period.
"Overall, I am very pleased with how things have rolled out as we enter a new legalized channel of retail," Harriman said in a statement.
The biggest buyers came from the Fredericton and Oromocto areas, where $172,975 worth of legalized marijuana products were sold. Saint John and Rothesay were fairly close behind bringing in $148,197 in sales.
The company ran into a snag with supply shortages that forced one of its stores to close temporarily.
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Demand Up, Supply Down
Harrisman told CBC:
"In planning for the launch, Cannabis NB had ordered a full portfolio of products to sufficiently stock its stores. Unfortunately, due to last-minute logistical and other issues encountered by the licensed producers, Cannabis NB did not receive its full shipment as ordered."
Cannabis NB is currently selling the highest prices for product across Canada. The company has a goal of putting illegal marijuana dealers out of business, but won't be able to with its high prices.
A whole cannabis flower named Lemon Skunk was selling at $15.50 for a single gram—which is the highest price listed across all of Canada. That same flower is selling for $11.22 in British Columbia and $12.60 in Manitoba.
Despite Cannabis NB's high prices, consumers are still buying. It remains unknown for how long though. Slowly word will begin to spread on what other provinces are charging, and the company might just have to meet them in the middle.
Featured Image: Depositphotos/© garagestock
