Canadian licensed cannabis producing giants, Canopy, Aurora, MedReleaf & Aphria, announced today in their respective news releases that they have finalized their deal with Société des alcools du Québec (SAQ), and have committed to supply cannabis products for the adult-use recreational market in Québec.
Canopy Growth said they completed their deal with SAQ to supply 12,000 kg of cannabis products for a three year period. “This agreement is an exciting next step in delivering a wide range of our safe, high-quality products to consumers across the province,” said Mark Zekulin, President, Canopy Growth. “Quebec is home for Canopy Growth and we’re proud to be advancing this long term partnership to develop the Québec market.”
Aurora competed their deal with SAQ and committed to supply a minimum of 5,000 kg of cannabis products per annum to the adult consumer market in Québec. The release stated, “Under the terms of the agreement, Aurora will supply the Quebec market, on a monthly basis, with a wide variety of premium product from its facilities in Quebec, and elsewhere if demand requires. Supply quantities will be determined based on demand on a month by month basis, with a minimum of 5,000 for the first year, but no set maximum. The initial term of the contract is to August 31, 2021.”
MedReleaf finalized their deal and committed to supply SAQ with 8,000 kg of cannabis products per year, for a minimum three-year term. “The adult-use market is rapidly approaching and since signing our LOI in February we have achieved several milestones to advance MedReleaf’s position as Canada’s leading premium cannabis producer,” said Neil Closner, CEO of MedReleaf. “Our recently announced greenhouse acquisition in Exeter, Ontario brings MedReleaf’s fully funded annual production capacity to 140,000 kilograms of cannabis products.”
Aphria announced they finalized their deal and have committed to supply SAQ with 12,000 kg of cannabis products per year, for a three year period. “We are very pleased to finalize this agreement with the SAQ and look forward to supplying the Quebec adult-use market with a variety of high-quality, safe and pure cannabis products,” said Vic Neufeld, Chief Executive Officer of Aphria. “Our product and brand portfolio has been specifically developed to meet the needs of very distinct market segments, and we look forward to offer adult-use consumers in Quebec a unique choice.”
The above supply agreements are conditional, and will depend on regulatory frameworks adopted by federal and provincial governments.
Anticipated recreational marijuana sales in Canada are slated to begin late summer or early fall of 2018.
By Marijuana.Ca Staff