The Canadian cannabis industry was full of early promises that didn’t live up to the hype. And, despite being at the forefront of legalization, stigma still exists, leaving many too uncomfortable to even set foot in a shop. But despite this, many smaller growers and producers are optimistic about the future of the industry, with many predicting that the year ahead will be a successful one.
Cannabis growers in the Canadian province of Newfoundland and Labrador are confident that the next year will be a successful one, despite the economic challenges of 2020 and the end of Canopy Growth’s operations.
The province’s first-ever drive-through cannabis store, Oceanic Cannabis and Coffee, has been a huge success since opening on the Burin Peninsula in December.
Oceanic ReLeaf president and CEO Taylor Giovannini says the business model was designed with rural Newfoundland in mind.
“Whether or not you’re comfortable buying cannabis, the stigma still exists, and I know a lot of people who are uncomfortable with the idea of walking into a cannabis store” explains the Oceanic CEO.
Oceanic is one of the rural producers that have emerged since cannabis was legalized in 2018. According to Giovannini, the difficulties producers like them have experienced over the past two years are due to the unknown variables associated with starting a business in a completely new area.
It’s a learning curve for us, and I think it took us a while to find the direction we wanted to go in. And here we are she says.
Oceanic’s development plan also includes the start-up of a production plant on the Burin Peninsula, located on the facilities of a former fish plant that employed 125 people.
It’s very important for me to know that we’re bringing economic benefits to a region in need like the Burin Peninsula,” says Ms. Gionannini.
It’s good for the province because we are able to create local jobs and hire local people says president and CEO of BeeHighVE, Rita Hall. BeeHighVE, based in Corner Brook, also continues to expand in 2021.
The businesswoman is hopeful about the future of the market for 2021, despite the termination of Canopy Growth announced last month.
Canopy Growth planned to produce 12,000 kg of dried cannabis per year at a brand new plant in Saint John. At least 8,000 kg of cannabis was to be reserved for distribution in Newfoundland and Labrador.
Canopy’s production and distribution operations could have created as many as 146 jobs in the province, but the 150,000 square foot facility never opened. Yet the $90 million project was well underway.
“Our products are different from Canopy,” says Rita Hall. “They were produced in industrial quantities. We produce small quantities with unique properties.”
Taylor Giovannini shares the same hopes as his colleague.
Sales in the province are increasing every month kilos, so there’s plenty of room to grow.
—
Featured image by jorono via Pixabay
DISCLAIMER:
This article was written by a third party contributor and does not reflect the opinion of Hemp.im, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Radio Canada, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Hemp.im assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Hemp.im is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
A survey found that women comprise 61% of home cannabis growers, marking a diversion from…
Denmark plans to make its pilot medical cannabis program permanent following its success in treating…
Polish lawmakers have submitted a non-binding petition to Prime Minister Donald Tusk, urging cannabis decriminalization…
The UK medical cannabis market has rapidly grown since legalization in 2018, with private actors…
A new study involving over 23,000 participants in New Zealand found that 60% of people…
The French Ministers of the Interior and Justice announced a comprehensive plan to tackle organized…