With the federal government having introduced legislation to legalize recreational marijuana, some Moncton companies are positioning themselves to take advantage of the new and emerging market.
READ MORE: N.B. pot professionals want voices heard by marijuana working group
For Moncton-based producer Organigram, Thursday’s announcement is yet another opportunity to grow and sell more product.
“Currently we can produce, for example, 6,2oo kilos a year, by the fall of this year we will produce 16,000 kilos and next year 26,000 kilos,” said Organigram CEO Greg Engel. “We are working on that expansion, you gotta have product to sell into the marketplace.”
The company’s focus is on medical marijuana, but Engel feels there will still be a demand even once all marijuana is legal.
“The mix of products that you’re gonna supply in a medical place may be different, in terms of what people are looking for in an adult recreation use versus products that are focused on medical use,” added Engel.
READ MORE: Federal legislation on legalizing marijuana unveiled
For the provincial government, it’s still too early to say how this legislation will be applied, but the main concern remains the same.
“We want to make sure that this industry gets out of the criminals hands, and we protect our younger generations, our kids,” said MLA Roger Melanson
The province plans on having an interim report ready this summer on how it will apply the legislation with a final report expected in September.