About Cannabis NB

Strategic Plan:

Strategic Plan 2024-2026

Resources:

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Quarterly Results:

Annual Reports:

In The News:

NEWS RELEASE

October 30, 2024

Cannabis NB releases second quarter results for 2024-2025

FREDERICTON, NB - Cannabis NB released its unaudited (draft) results for the second quarter ended September 29, 2024. Total product sales for the quarter (13 weeks) were $26.9 million, an increase of 6.6 per cent compared to the same period last year (13 weeks). Net income for the quarter was $6.8 million, 1.9 per cent above the prior year's second quarter net income of $6.7 million.

Key product sales trends for the second quarter (July 1, 2024 to September 29, 2024) compared to the second quarter last year were (July 3, 2023 to October 1, 2023):

sales of dried flower increased 8.3 per cent, up $1.1 million

extracts sales increased 2.1 per cent, up $13.1 thousand

sales of accessories decreased 18.3 per cent, down $0.2 million

sales of edibles decreased 5.4 per cent, down $0.1 million

sales of infused beverages increased 12.6 per cent, up $0.1 million

sales of topicals decreased 29.7 per cent, down $0.1 million

concentrates sales increased 10.3 per cent, up $0.8 million

More information about the quarter results can be found here.

CNB continues its focus of providing customers more options and convenience to shop in the legal market. It's private retail channel, with nine stores fully operational, contributed $1.7M in year-over-year sales growth. The Concentrate and Dried Flowers categories continued to lead the year-over-year sales growth at the end of second quarter, making up 84.6% of total Q2 sales.

Celebrating Success

After spending the first few years strengthening the foundation of the business, CNB advanced its model evolution strategy.

This began in 2021 with the launch of our FarmGate program allowing licensed producers, based in New Brunswick, to sell their products at their own retail stores on site at their facilities. In 2022, we expanded our store network, opening new format, more streamlined stores in underserviced areas of the

province.

In the current phase of its model evolution, Cannabis NB launched a private retail channel. These stores are owned and operated under private retailers' own brand. They are legal and licensed to sell cannabis in New Brunswick, and offer a full portfolio of legal, regulated products across all categories, sourced from Cannabis NB.

We now boast 25 corporate stores, 5 Farmgate partners, and 9 private retail partners (6 open) with a goal of increasing visibility and access of safe legal products. We employ over 230 New Brunswickers across the province.

Additionally, over the past five years CNB has been an industry leader when it came to cannabis innovation. We have been lucky to drive several firsts like:

· Being recognized by the Retail Council of Canada for our training program with an Excellence in Retail Award nomination

· Having the first on-site pop-up shop at a cannabis conference – the World Cannabis Congress

· Hosting Cannabis East, the first public-facing education event with suppliers and onsite sales

· And opening a seasonal pop-up at a cruise terminal container village in Saint John

Through its growth and innovation, CNB has focused on promoting safe practices around cannabis

consumption, with the core focus of its retail model being youth protection, reducing the illicit market, education, and safety.

Looking to the Future

We hope to continue evolving our model by continuing to expand our private retail channel. We want to provide increased opportunities for private sector participation in the legal cannabis market in NB.

We also plan to pursue all available avenues for providing consumers with the safe, responsible on-site consumption opportunities which increase legal access and meet the needs of customers.

As Cannabis NB continues to evolve, it remains committed to ensuring the thriving cannabis industry

that develops in New Brunswick is safe and responsible, all while providing the best possible experience for our customers every time.

Cannabis NB’s five-year milestone is huge accomplishment, and I am so proud the people who have been a part of this journey. I want to thank the incredible CNB team, our partners, and our customers. We would not be celebrating the success of the past five years if it weren’t for their dedication and support.

Here’s to the next five years!

NEWS RELEASE

October 6, 2023

Congratulations to ANBL and CNB’s 2023 Board of Directors Scholarship and Bursary Recipients

Fredericton, NB - To support the education and continuous learning ambitions of our teams and their families, ANBL and CNB offer a Board of Directors Scholarship and Bursary program every year.

Applications are open to all team members, and funds can be used for themselves or family members who are planning to pursue education opportunities.

This year, the Board of Directors for ANBL and CNB are very proud to be supporting the following students with bursaries / scholarships as they begin their year at post-secondary institutions in various fields of study:

Abby Dubé
Abigail Sears
Audrey St-Pierre
Drew Duffy
Emma Gallant
Lauren Fuller
Meera Joshi
Robyn Arseneault
Shelby Arseneault
Sophie Dubé

· Riley Oram

· Mintra Taylor

· Juliana Richards

· Alex-Andrea Piercy

· Chris Albert

ANBL and CNB offer congratulations to all this years’ recipients and wish them well in their studies.

Media contact:

Emilie Dow
Communications Specialist
506-478-3634
media.relations@anbl.com

NEWS RELEASE

July 31, 2023

Cannabis NB releases first quarter results for 2023-2024

FREDERICTON, NB – Cannabis NB released its unaudited (draft) results for the first quarter ended July 2, 2023. Total product sales for the quarter (13 weeks) were $21.9 million, an increase of 11.0 per cent compared to the same period last year (13 weeks). Net income for the quarter was $5.1 million, 24.3 per cent above the prior year's first quarter net income of $4.1 million.

Key product sales trends for the first quarter (April 3rd, 2023 to July 2nd, 2023) compared to the first quarter last year were (April 4th, 2022 to July 3rd, 2022):

sales of dried flower increased 4.6 per cent, up $0.5 million
extracts sales increased 14.5 per cent, up $0.1 million
sales of accessories increased 8.7 per cent, up $0.1 million
sales of edibles decreased 6.1 per cent, down $0.1 million
sales of infused beverages increased 55.6 per cent, up $0.2 million
sales of topicals increased 10.0 per cent, up $20.4 thousand
concentrates sales increased 24.0 per cent, up $1.3 millon

Infued pre-rolls represent 11% of CNB's concentrate sales. An infused pre-roll is a cannabis pre-roll that has a cannabis concentrate like “hash”, “kief”, “wax” or “shatter” added to it. The concentrate can be placed inside the rolling papers with the ground flower, or it can be added to the outside of the pre-roll. Consumers gravitate to infused pre-rolls due to their higher THC potency.

More information about the quarter results can be found here.

In case you missed it

Private Retail

Cannabis NB has launched its new private retail channel, which allows private retailers to open stores under their own brands across the province. These legal stores are licensed to sell cannabis in New Brunswick, and offer a full portfolio of legal, regulated products across all categories, sourced from Cannabis NB. These stores are identified from illegal stores by a badge displayed outside and inside the stores. To date, three stores have opened in Grand Bay, Bouctouche and Blackville, with more to open over the course of the summer and fall.

Cannabis NB also celebrated the opening of two new FarmGate stores, Stewart Farms and Greenherb Farms.

More information on Cannabis NB’s private retail channel can be found here.

Good to Know Re-Launch

Cannabis NB launched its next Good to Know campaign which focuses on illegal cannabis products in New Brunswick, and shares some facts about what consumers are really getting when they shop illegal stores. The campaign that appeared on various websites, and age-gated social media apps, promotes the fact that any product not sold by Cannabis NB in New Brunswick is not tested or regulated, nor are illegal vendors held accountable for the claims made about their products. This iteration of the Good to Know campaign also includes a free course for the public, and information on the private retail badges, and how to differentiate between legal private retail stores and illegal stores.

More information about the campaign can be found here.

Excellence in Retailing Award Nominations

Cannabis NB was named as a finalist in the Retail Council of Canada’s Excellence in Retailing Awards for 2023. CNB was nominated in two categories, including the Pop-Up Experience and Design for its container village pop-up which was part of the Area 506 Container Village, and Retail Marketing for the Good to Know campaign which launched last fall.

About Cannabis NB

Media contact:

Angela Bosse

Communications Specialist

media.relations@anbl.com

NEWS RELEASE

May 17, 2023

ANBL and Cannabis New Brunswick Named Finalists for the Retail Council of Canada's Excellence in Retailing Awards 2023

Fredericton, NB – ANBL and Cannabis NB are excited to share that both companies have been named finalists for the Retail Council of Canada's Excellence in Retailing Awards for 2023. The awards recognize outstanding achievements and leadership in the Canadian retail industry across various categories.

Cannabis NB is a finalist in two categories, including the Pop-Up Experience and Design for its container village pop-up which was part of the Area 506 Container Village, and Retail Marketing for the Good to Know campaign launched last fall. ANBL is a finalist in the Philanthropic Leadership category for Food Security focused community engagement strategy, and the Retail Marketing category for its 2022 Holiday Campaign.

"We are thrilled to be finalists for the Retail Council of Canada’s Excellence in Retailing Awards," said Lori Stickles, CEO of ANBL and Cannabis NB. "It's an honor to be recognized among Canada's top retailers for our innovative approaches to engaging with our customers and our communities."

Cannabis NB's Pop-Up Experience and Design nomination recognizes the innovative and engaging experience created by the Summer Container Village Pop-up. This project was the first of its kind in the Canadian cannabis industry, and allowed CNB to serve over 5,500 people over the summer, combat stereotypes associated with the legal cannabis market, and demonstrate our great customer experience to a new audience. The Good to Know campaign from Cannabis NB educated customers on the realities of illicit product, and encourage them to seek out safe, regulated products at Cannabis NB. The campaign used innovative media while adhering to the [W(1] [B(2] [W(3] marketing regulations of the legal cannabis industry.

ANBL’s Philanthropic Leadership nomination recognizes its commitment to developing a stakeholder-driven community engagement strategy, which focuses on building meaningful relationships with local organizations to address the needs of the community. This strategy’s success allowed ANBL’s philanthropic efforts focused on food security to have higher public awareness and increased employee support which in turn increased the community contribution. ANBL's Retail Marketing nomination for the 2022 Holiday Campaign highlights the company's ability to create a memorable shopping experience during a busy and competitive time of year. The wide product selection and competitive price points helped meet customers' needs and allowed ANBL to achieve record-breaking results.

The winners of the Retail Council of Canada's Excellence in Retailing Awards will be announced at the awards ceremony on May 30, 2023.

About ANBL[B(4]

ANBL is a provincial Crown corporation responsible for the purchase, importation, distribution and retail activity for all alcoholic beverages in the province. It serves the public and licensees through 40 corporate retail outlets, 90 private agency store outlets, 91 local producer agency stores, and 68 grocery stores selling wine, cider and beer, as of April 2, 2023. Its product portfolio comprises more than 2,334 products, including wines, spirits, beers and other products, such as coolers and cider products, and locally produced alcoholic beverages.

Over the course of the last 47 years, ANBL has built a network of stores in more than 29 communities around the province, and currently employs roughly 472 people. Under an accounting convention common in the retail industry, the Corporation follows a 52-week reporting cycle, which periodically necessitates a fiscal year of 53 weeks (fiscal 2021-2022 was a 53-week year). The Corporation’s fiscal year ends on the Sunday closest to March 31. Typically, the inclusion of an extra week occurs every fifth or sixth fiscal year due to the Corporation’s floating year-end date. Fiscal 2022-2023 is a 52-week year.

About Cannabis NB

Media Contact:

Angela Bosse

Communications Specialist

media.relations@anbl.com

NEWS RELEASE

May 2, 2023

Cannabis NB releases fourth quarter draft results for 2022-2023

FREDERICTON, NB – Cannabis NB released its unaudited (draft) results for the fourth quarter ended April 2, 2023. Total product sales for the quarter (13 weeks) were $20.5 million, a decrease of 2.5 per cent compared to the same period last year (14 weeks). Net income for the quarter was $4.6 million, 6.9 per cent above prior year's fourth quarter net income of $4.3 million.

Key product sales trends for the fourth quarter (January 2nd, 2023 to April 2nd, 2023) compared to the fourth quarter last year (December 27, 2021 to April 3, 2022) were:

· sales of dried flower decreased 12.2 per cent, down $1.4 million

· extracts sales decreased 14.4 per cent, down $0.1 million

· sales of accessories increased 10.4 per cent, up $0.1 million

· sales of edibles decreased 4.9 per cent, down $0.1 million

· sales of topicals decreased 3.3 per cent, down $3.4 thousand

· concentrates sales increased 19.9 per cent, up $1.1 million

Additionally, CNB was one of the first provinces nationally to roll out a new product offering, clones, to consumers, this quarter.

“I’m pleased to announce we achieved record earnings again this fiscal year, thanks to the continued dedication and commitment of the CNB team in serving our customers,” said Lori Stickles, Cannabis NB’s President and CEO. “I’m extremely proud of our team, and of our contributions to province that will be used to fund valuable programs and services in communities across the New Brunswick.”

Preliminary, draft and unaudited product sales for the 52-week fiscal year ended April 2, 2023 were $83.5 million, down $0.3 million, or 0.4% from the previous 53-week fiscal year, which ended April 3, 2022. Preliminary, draft and unaudited net earnings for the year were $18.3 million, up 11.0% compared to fiscal year 2021-2022’s results of $16.5 million. Audited statements will be included in the corporation’s annual report.

More information about the quarter results can be found here.

In case you missed it

“Why Choose Legal Cannabis?” Education Course

FarmGate Program Expansion

Cannabis FarmGate is a program that allows licensed New Brunswick cannabis producers to sell their own products onsite at their facilities. The program is part of Cannabis NB’s model evolution to increase consumer access to safe, legal cannabis options.

Cannabis NB worked with two new FarmGate partners this quarter preparing to welcome two new stores - Stewart Farms in St. Stephen and, Greenherb Farms in Saint-Joseph-de-Kent, early in 2023. More information on the program and its participants can be found here.

About Cannabis NB

Media contact:

Emilie Dow

Communications Specialist

media.relations@anbl.com

NEWS RELEASE

April 19, 2023

The Cannabis NB Cup is back!

Fredericton, NB – For the third year in a row, the Cannabis NB Cup is celebrating the Best in Grow among licensed producers and micro-grow cultivators in Canada. This unique competition pits premium dry flower products from Canadian licensed producers against each other – with the winners decided by consumers.

From April 20 to June 19, a limited quantity of Cannabis NB Cup boxes will be available for purchase in Cannabis NB stores across the province and customers will be invited to act as judges in the competition.

The national Cannabis NB Cup includes two box options – A sativa and an indica version, retailing for $250 each. Each box has eight 3.5 g packages of cannabis flower, one from each of the participating licensed producers, and a full judging tool kit. The judging will be done online via a detailed survey and participants will have the opportunity to score the products amongst five award categories:

Best in Grow - top score overall winner
Runner up - second highest overall score
Honorable mention - third highest overall score
Best Looking - Top score in combined Appearance and Aroma
Best Experience – Top score in Consumption and Experience

Entrants in the competition were carefully selected and had to meet specific THC and terpene requirements to be included. Some of the participating products are new Cannabis NB and are not yet available in stores so participants will get a first look at some great new products. Producers participating in this year’s Cannabis NB Cup include:

· Broken Coast Cannabis LTD

· East Coast Buds

· Spinach

· Ogen

· Pure Sunfarms

· Highland Nova Scotia Grown

· Ritual

· Msiku

· 3 Saints

· Wagners

· Bold Craft Cannabis

· Weed Me

· Topleaf

“We are very excited to launch this year’s Cannabis NB Cup competition,” said Lara Wood, Cannabis NB’s VP of Operations. “It provides a great opportunity for our partners to show off their best and connect directly with their audience and is one of the only programs nationally to offer producers real-time, quantitative feedback from consumers who are trying these products.”

Award winners will be announced in late June. Along with bragging rights, the overall “Best in Grow” winners will be showcased in a Cannabis NB Cup display in every Cannabis NB store across the province.

The Cannabis NB Cup first launched in 2021, marking the first event of its kind within the legal recreational cannabis space to allow the consumer to weigh in on the attributes and experience of some premium cannabis brands.

For more information on the competition, visit cannabisnbcup.ca.

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About Cannabis NB

Media contact:

Emilie Dow

Communications Specialist

media.relations@anbl.com

The Importance of Safe Cannabis Purchase and Consumption

By Lori Stickles, President & CEO of Cannabis NB

Since its launch in 2018, the legal cannabis industry continues to grow and be innovative, and I am proud and excited to be a part of it. With the growth of the legal cannabis industry however, we have also seen a growth in illegal cannabis retail in New Brunswick.

Recently, we have seen news coverage around illegal cannabis product seizures in the province, as well as reports of youth consuming illegal cannabis products at school. Illegal cannabis operations are making products accessible to New Brunswickers that are untested and unregulated, with packaging that is often non-childproof, and branded to appeal to youth. As the Provincial retailer of cannabis, as well as a community member and parent, I am very concerned about this. There is a great deal of enforcement effort being focused on this, and I want to commend the Department of Justice and Public Safety for the work they’re doing through their Safer Communities program to dismantle illegal cannabis operations. However, we need to continue to be aware of the presence of these products in our communities.

One of Cannabis NB’s core strategic pillars is to educate customers on safe cannabis purchase and consumption, which is a commitment our team takes very seriously. I'm proud of the level of knowledge our teams have to support and educate our customers in our stores everyday. In addition, Cannabis NB is providing free education resources to members of the public who want to learn about the difference between illegal and legal products, to consume in a responsible way, and to learn how to mitigate risks for kids. Cannabis NB has also partnered with MADD to raise awareness in schools in the province through their “Weed Out the Risk” program.

In January, Cannabis NB launched a “Why Choose Legal Cannabis?” education course on the safe purchase and consumption of cannabis. The 10-minute interactive course walks participants through realistic scenarios where they can learn how to ensure they are purchasing legal cannabis, the benefits of purchasing legal versus illegal, and the risks associated with the use of illegal cannabis products. The course is available to the public at goodtoknownb.ca, or here. This course launch is part of Cannabis NB’s latest Good to Know campaign that launched in November 2022, which focuses on providing consumers with information on safe practices around the sale, purchase and use of cannabis products.

While the illegal cannabis market continues to provide challenges and risks, we hope through proper education, consumers will be informed and empowered to make safe decisions surrounding cannabis purchase and consumption. I encourage those interested in learning more about responsible cannabis use in New Brunswick to visit goodtoknownb.ca.

NEWS RELEASE

January 31, 2023

Cannabis NB releases third quarter results for 2022-2023

FREDERICTON, NB – Cannabis NB released its unaudited results for the third quarter ended January 1, 2023. Total product sales for the quarter were $21.6 million, an increase of 5.0 per cent compared to the same period last year. Net income for the quarter was $4.8 million, 21.5 per cent above prior year's third quarter net income of $3.9 million.

Key product sales trends for the third quarter (October 3rd, 2022 to January 1st, 2023) compared to the third quarter last year were:

• sales of dried flower decreased 8.0 per cent, down $0.9 million

• extracts sales decreased 10.6 per cent, down $0.1 million

• sales of accessories increased 11.2 per cent, up $0.1 million

• sales of edibles increased 24.8 per cent, up $0.4 million

• sales of topicals increased 21.0 per cent, up $26.1 thousand

• concentrates sales increased 30.3 per cent, up $1.6 million

More information about the quarter results can be found here.

In case you missed it

MADD Campaign

In December, MADD Canada supported by Cannabis NB launched a new campaign in schools to educate teens about the risk of cannabis-impaired driving and prevention measures. The “Weed Out The Risk” program is available to schools around the province and is delivered in the classroom by a trained facilitator. More information is available here.

Good to Know Re-Launch

More information about the campaign can be found here.

Network Expansion

Cannabis NB opened two new stores in October, both in urban centres to meet demand. The new Saint John and Moncton locations are the final two out of five Cannabis NB stores opened around the province over the summer and fall to improve customer convenience and access to legal product. Additionally, Cannabis NB also launched a request for proposal for a new private retail channel, allowing private retailers to open stores under their own brands across the province. They will be legal and licensed to sell cannabis in New Brunswick, and will offer a full portfolio of legal, regulated products across all categories, sourced from Cannabis NB.

More information on Cannabis NB’s model evolution can be found here.

About Cannabis NB

Media contact:

Emilie Dow

Communications Specialist

media.relations@anbl.com

Provincial Press Release - December 7, 2022

Educating NB Youth About Risks Of Driving Under the Influence of Cannabis

Fredericton, New Brunswick – MADD Canada and Cannabis NB are educating teens about the risks of cannabis-impaired driving and how they can prevent it.

With financial support from Cannabis NB, MADD Canada is bringing its Weed Out The Risk program to schools around the province. The program, developed by Springboard – a Toronto-based charity organization – with additional content from and delivered by MADD Canada, presents the risks of using cannabis and driving, or being a passenger in a vehicle with a cannabis-impaired driver. It is delivered in classrooms by a trained facilitator.

“Many young people think driving under the influence of cannabis is risk-free,” said MADD Canada Chief Operating Officer Dawn Regan. “Our Weed Out The Risk program challenges this and other misperceptions, and gets young people thinking about how they can protect themselves and their peers.”

Thanks to funding from Cannabis NB through the Government of New Brunswick’s Cannabis Education and Awareness Fund, MADD Canada is delivering 50 presentations of Weed Out The Risk to New Brunswick students in Grades 9 to 12.

“We are proud to partner with MADD Canada on this important campaign,” said Lori Stickles, CEO of Cannabis NB. “As the only legal retailer of cannabis in New Brunswick, one of Cannabis NB’s main pillars of operation is a strong commitment to education and safety for the benefit of all New Brunswickers, including minors.”

Weed Out The Risk is endorsed by the Centre for Addiction and Mental Health Canada (CAMH), Cannabis Canada, teachers, and most importantly, by the students who participate in the program – over 170,000 youth have been part of Weed Out The Risk presentations since 2015.

Road crashes are the number one cause of death among Canadian youth, and alcohol and/or drugs are involved in more than half of those crashes. MADD Canada delivers Weed Out The Risk and other programs to educate students about the risks of impaired driving, and to encourage them to never put themselves at risk by driving impaired or riding with an impaired driver.

“MADD Canada is pleased to have this valuable support from Cannabis NB. Together we are delivering a life-saving message to students about the dangers of cannabis-impaired driving, and inspiring them to make safe and responsible choices,” said Ms. Regan.

Click here to learn more about Weed Out The Risk and see the promotional video.

About Cannabis NB

Cannabis NB, the only legal retailer of recreational cannabis for the province of New Brunswick, manages retail cannabis sales for the province. The core focus of its retail model is youth protection, reducing the illicit market, education, and safety. Cannabis NB stores offer a range of safe, legal products with a one-on-one guided retail experience. Cannabis NB has 25 stores in 18 communities and is currently in the process of expanding its retail model to increase access to safe, legal cannabis options through NB producer farmgate stores, pop-up stores, and private retail opportunities. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years. Fiscal 2022-2023 is a 52-week year.

About MADD Canada

MADD Canada (Mothers Against Drunk Driving) is a national, charitable organization that is committed to stopping impaired driving and supporting the victims of this violent crime. With volunteer-driven groups in more than 100 communities across Canada, MADD Canada aims to offer support services to victims, heighten awareness of the dangers of impaired driving and save lives and prevent injuries on our roads. To learn more, visit www.madd.ca.

For more information, please contact: Dawn Regan, MADD Chief Operating Officer, 1-800-665-6233, ext. 223 or dregan@madd.ca

NEWS RELEASE
November 16, 2022

Hard to hear, but good to know: Cannabis NB’s Good to Know campaign shares the facts on illegal cannabis products

Fredericton, NB – Cannabis NB’s Good to Know website and brand are used to promote educational messages with a focus on providing consumers with information on safe practices around the sale, purchase and use of cannabis products.

Cannabis NB is launching its next Good to Know campaign which focuses on illegal cannabis products in New Brunswick, and shares some facts about what consumers are really getting when they shop illegal stores.

Last year Cannabis NB worked with RPC, a cannabis testing lab in Fredericton to compare its legal products with illegal products purchased at illegal dispensaries in New Brunswick. The results included findings ranging from misstated THC levels, to high contaminant levels, to alarming pesticide evidence in illegal products. The whole study is available here.

The campaign promotes the fact that any product not sold by Cannabis NB in New Brunswick is not tested or regulated, nor are illegal vendors held accountable for the claims made about their products.

Over the next few weeks, the Good to Know campaign will be live on various websites and social media apps with age-gated ads geared towards a 19+ audience. You can find a sneak peak of the campaign below.

Good to Know Campaign.

About Cannabis NB

Cannabis NB, the only legal retailer of recreational cannabis for the province of New Brunswick, manages retail cannabis sales for the province. The core focus of its retail model is youth protection, reducing the illicit market, education, and safety. Cannabis NB stores offer a range of safe, legal products with a one-on-one guided retail experience. Cannabis NB has 26 stores in 18 communities and is currently in the process of expanding its retail model to increase access to safe, legal cannabis options through NB producer farmgate stores, pop-up stores, and private retail opportunities. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years. Fiscal 2022-2023 is a 52-week year.

Media contact:

Emilie Dow, Communications Specialist

506-478-3634

media.relations@anbl.com

NEWS RELEASE

November 2, 2022

Cannabis NB releases second quarter results for 2022-2023

FREDERICTON, NB – Cannabis NB released its unaudited results for the second quarter ended October 2, 2022. Total product sales for the quarter were $21.7 million, a decrease of 3.3 per cent compared to the same period last year. Net income for the quarter was $4.8 million, 2 per cent above prior year's second quarter net income of $4.7 million.

Key product sales trends for the second quarter (July 4 to October 2, 2022) compared to the second quarter last year were:

sales of dried flower decreased 13.8 per cent, down $1.9 million
extracts sales decreased 26.9 per cent, down $274.4 thousand
sales of accessories decreased 18.9 per cent, down 166.9 thousand
sales of edibles increased 42.8 per cent, up 591.8 thousand
sales of topicals increased 130.1 per cent, up 140.8 thousand
concentrates sales increased 15.4 per cent, up 0.8 million

More information about the quarter results can be found here.

Cannabis NB continues to provide significant returns to the province with another profitable quarter, despite competition with the illicit market.

In case you missed it

Network expansion

Cannabis NB recently expanded its store network to include new stores in Riverview, Saint John and Moncton, New Brunswick. The expansion of the store network is part of Cannabis NB’s model evolution project which will provide more convenience to consumers, better access to safe legal products for customers in New Brunswick, increase revenue for the province, and create jobs in new communities.

Private Retail

As part of its model evolution, Cannabis NB is preparing to launch a new private retail channel, allowing private retailers to open stores under their own brands across the province. They will be legal and licensed to sell cannabis in New Brunswick, and will offer a full portfolio of legal, regulated products across all categories, sourced from Cannabis NB.

More information on Cannabis NB’s model evolution can be found here.

Board of Directors Scholarship and Bursary

CNB’s Board of Directors awarded bursaries and scholarships to support the education and continuous learning ambitions of ANBL and CNB’s teams and their families. More information on the program is available here.

About Cannabis NB

Cannabis NB, the only legal retailer of recreational cannabis for the province of New Brunswick, manages retail cannabis sales for the province. The core focus of its retail model is youth protection, reducing the illicit market, education, and safety. Cannabis NB stores offer a range of safe, legal products with a one-on-one guided retail experience. Cannabis NB has 26 stores in 18 communities and is currently in the process of expanding its retail model to increase access to safe, legal cannabis options through NB producer farmgate stores, pop-up stores, and private retail opportunities. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years. Fiscal 2022-2023 is a 52-week year.

Media contact:

Emilie Dow

Communications Specialist

media.relations@anbl.com

NEWS RELEASE

October 6, 2022

Cannabis NB Expands Store Network in Saint John and Moncton

Fredericton, NB – Cannabis NB is pleased to announce it has expanded its store network to include new stores in Saint John and Moncton, New Brunswick. The Saint John location at 20 Plaza Ave opened Sept. 30, and the Moncton location at 50 Granite Drive opened Thursday, Oct. 6.

The expansion of the store network is part of Cannabis NB’s model evolution project which will provide more convenience to consumers, better access to safe legal products for customers in New Brunswick, increase revenue for the province, and create jobs in new communities.

“We are pleased to be adding these new locations to our network,” said Lori Stickles, President & CEO of Cannabis NB. “The new stores will provide our customers in those areas with better access to safe, regulated products, as well as access to our knowledgeable team members to guide them through their purchases.”

The new Saint John and Moncton locations are the final two out of six Cannabis NB stores opened around the province over the summer and fall to improve customer convenience and access to legal product.

The locations are slightly smaller than the original corporate stores, but still offer all Cannabis NB’s most popular products as well as the latest offering in edibles, dry flower, topicals, seeds and accessories.

Last month, Cannabis NB began the next step in its model evolution which involves expanding the retail offering in New Brunswick to include private retail stores. Private Retail is key in advancing Cannabis NB’s strategy to increase convenience and legal access in new, underserved areas of the province.

A tender process for private retail was launched from September 6 to October 5. More information on the Cannabis NB’s retail model evolution is available, here.

Cannabis NB’s newest Saint John location at 20 Plaza Ave on the city’s west side.

Cannabis NB’s newest Moncton location at 50 Granite Drive.

About Cannabis NB

Cannabis NB, the only legal retailer of recreational cannabis for the province of New Brunswick, manages retail cannabis sales for the province. The core focus of its retail model is youth protection, reducing the illicit market, education, and safety. Cannabis NB stores offer a range of safe, legal products with a one-on-one guided retail experience. Cannabis NB has 26 stores in 18 communities and is currently in the process of expanding its retail model to increase access to safe, legal cannabis options through NB producer farmgate stores, pop-up stores, and private retail opportunities. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years. Fiscal 2022-2023 is a 52-week year.

Media contact:

Emilie Dow

Communications Specialist

506-478-3634

media.relations@anbl.com

NEWS RELEASE

September 27, 2022

Congratulations to ANBL and CNB’s 2022 Board of Directors Scholarship and Bursary Recipients

Fredericton, NB - To support the education and continuous learning ambitions of our teams and their families, ANBL and CNB offer a Board of Directors Scholarship and Bursary program every year.

Applications are open to all team members, and funds can be used for themselves or family members who are planning to pursue education opportunities.

Abigail Wilcox
Bruno Emery Legere
Chelsea Cliff
Danika Amy Caron
Danika Raymond
Emilie Vautour
Isabelle Grenier
James Ellison
Jenna Campbell
Luke Shaddick
Marcus Legere
Mintra Taylor
Noah Deschene
Nathan Spencer
Riley Oram

CNB and ANBL offer congratulations to all this years’ recipients and wish them well in their studies.

Media contact:

Emilie Dow

Communications Specialist

506-478-3634

media.relations@anbl.com

NEWS RELEASE

September 7, 2022

Cannabis NB Releases Tender for Private Retailers

Fredericton, NB - Cannabis NB is pleased to announce it is expanding the retail model in New Brunswick to include private retail stores. Private retail is part of Cannabis NB’s model evolution strategy which will provide more convenience to consumers and better access to safe legal products for New Brunswickers.

Private retail stores will not be Cannabis NB stores, and will be owned and operated privately under their own brands. They will be legal and licensed to sell cannabis in New Brunswick, and will offer a full portfolio of legal, regulated products across all categories, sourced from Cannabis NB.

“We are looking forward to expanding our offering to include private retail in New Brunswick,” said Lori Stickles, CEO of Cannabis NB. “The goal of having private retail locations is to combat the illicit market by providing better access to safe, regulated cannabis products in underserved areas of the province.”

There are 10 private retail store locations available this fiscal year that will be selected through a public tender process. The communities included in the tender are:

· Hampton

· St. Andrews

· Grand Bay

· Bouctouche

· Caraquet

· Dalhousie

· St-Quentin

· Blackville

· Chipman

· Salisbury

The private retail tender application process began September 6, 2022. Additional details on private retail opportunities, and the tender application are available here: https://www.cannabis-nb.com/Industry/

About Cannabis NB

Cannabis NB, the only legal retailer of recreational cannabis for the province of New Brunswick, manages retail cannabis sales for the Province of New Brunswick. The core focus of the retail model is youth protection, reducing the illicit market, education, and safety. All Cannabis NB stores offer a range of safe, legal products with a one-on-one guided retail experience. Cannabis NB launched with 20 stores in 15 communities and is currently in the process of expanding the store network to increase access to safe legal cannabis options. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years. Fiscal 2021-2022 is a 53-week year.

Media contact:

Emilie Dow

Communications Specialist

506-478-3634

media.relations@anbl.com

NEWS RELEASE
August 12, 2022

Cannabis NB Expands Store Network to Riverview

Fredericton, NB – Cannabis NB is pleased to announce it has expanded its store network to include a new store in Riverview, New Brunswick. The new store, located at 391 Coverdale Road, will open on August 15.

“We are pleased to be adding the Riverview location to our network,” said Lori Stickles, CEO of Cannabis NB. “This new store will provide our customers in the area with better access to safe, regulated products, as well as access to our knowledgeable team members to guide them through their purchases.”

The Cannabis NB store in Riverview is slightly smaller than the original corporate stores, but will still offer all Cannabis NB’s most popular products as well as the latest offering in edibles, dry flower, topicals, seeds and accessories.

The new store is one of the six Cannabis NB stores planned for this summer and fall to improve customer convenience and access to legal product.

In parallel, Cannabis NB is working to expand the retail offering in New Brunswick to include private retail stores. These stores will not be Cannabis NB stores, and will be owned and operated privately under their own brands. They will be legal and licensed to sell cannabis in New Brunswick, and will offer a full portfolio of legal, regulated products across all categories. They will be key to advancing the strategy to increase convenience and legal access in new, underserved areas of the province.

New private retail locations will be selected through a tender process, which is currently being finalized. More information about these opportunities, including planned locations and the application process will be shared in the coming weeks.

NEWS RELEASE

August 2, 2022

Cannabis NB releases first quarter results for 2021-2022

Fredericton, NB – Cannabis NB (CNB) released its unaudited results for the first quarter ended July 3, 2022. Total product sales of legal recreational cannabis for the quarter (13 weeks) were $19.7 million, a slight decrease of 0.6 per cent from the same period last year. Net income for the quarter was $4.1 million, 16.3 per cent ahead of the prior year’s first quarter net income of $3.5 million.

Key trends for the first quarter (April 4, 2022 – July 3, 2022) compared to the first quarter of last year were:

· Online sales decreased to 0.8 per cent of sales for the quarter, down 1.3 per cent over prior year.

· In store sales increased to 99.2 per cent of sales for the quarter, from 98.7 per cent last year.

· Concentrates sales increased 15.3 per cent, up $0.7 million.

· Edibles sales increased 58.9 per cent, up by $0.7 million.

· Dried flower sales decreased 11.0 per cent, or by $1.3 million.

· Extracts sales decreased 23.6 per cent, down by $0.2 million.

· Accessories sales decreased 13.4 per cent, down by $0.1 million.

· Topicals sales increased 154.0 per cent, up by $0.1 million.

· Seeds represented 0.4 per cent of sales for the quarter, at 0.07 million.

The year-over-year increase in net income is driven by CNB’s ability to leverage favourable product pricing. The total volume of legal cannabis product sold has increased this quarter to approximately 2,7 million grams of dry flower equivalent compared to approximately 2,5 million grams of dry flower equivalent for the same period last year.

In case you missed it

Donations towards food security

From May 29th to July 3rd, CNB offered a product bundle to which a portion of the sales were given to the Food Depot which supports over 60 food banks across the province. This initiative was done as a means to have a broad and direct impact in various New Brunswick communities. A total of $18,260 was raised through this initiative.

Network expansion

In June, CNB expanded its store network by opening two new two new locations including a seasonal pop-up store at the Area 506 Container Village in Saint John, and a new store in Woodstock. These are the first additions to the CNB network and mark the beginning of a model evolution project. More information about the expansion can be found here.

FarmGate

On June 21^st, CNB welcomed its fourth FarmGate partner, Stewart Farms on board. The FarmGate program allows licensed New Brunswick cannabis producers to sell their own products onsite at their facilities. More information about the program can be found here.

About Cannabis NB

Cannabis NB, the only legal retailer of recreational cannabis for the province of New Brunswick, is an investee of ANBL and manages retail cannabis sales for the Cannabis Management Corporation. The core focus of the retail model is youth protection, reducing the illicit market, public education, and safety. Twenty stores in fifteen communities offer a range of products with a one-on-one guided retail experience. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years, with the next 53-week year occurring in this current fiscal year.

Media contact:

Marie-Andrée Bolduc

Director of communications

(506) 429-4695

media.relations@anbl.com

NEWS RELEASE
July 18, 2022

Cannabis NB Expands Store Network to Grand Falls

Fredericton, NB – Cannabis NB is pleased to announce it has expanded its store network to include a new store in Grand Falls, New Brunswick. The new store, located on 180 Madawaska Street, will open on July 18.

“We are pleased to be adding the Grand Falls location to our network,” said Lori Stickles, CEO of Cannabis NB. “This new store will provide our customers in the area with better access to safe, regulated products, as well as access to our knowledgeable team members to guide them through their purchases.”

The Cannabis NB store in Grand Falls is slightly smaller than existing stores, but will still offer all Cannabis NB’s most popular products as well as the latest offering in edibles, dry flower, topicals, seeds and accessories.

The new store will serve to further increasing legal access and options for New Brunswick consumers, as Cannabis NB prepares for the launch a new private retail channel, which will see private retailers open stores under their own brands across the province.

Cannabis NB is currently assessing other locations across the province for new Cannabis NB stores as well as for private retail opportunities and will be sharing more details about these new stores and opportunities in the coming weeks.

About Cannabis NB

Media contact:

Emilie Dow

Communications Specialist

506-478-3634

media.relations@anbl.com

NEWS RELEASE
June 8, 2022

Cannabis NB Expands Store Network

Fredericton, NB – Cannabis NB is in the process of adding new locations to its existing store network. The first two new locations include a seasonal pop-up store in Saint John, and a new corporate store in Woodstock, New Brunswick. The store in Saint John will be part of the Area 506 Container Village and will open on June 8, with the Woodstock Cannabis NB store following soon after on June 13 at 418 Connell Street.

These are the first additions to the Cannabis NB network and mark the beginning of a model evolution project which will provide more convenience to consumers, better access to safe legal products for customers in New Brunswick, increase revenue for the province, and create jobs in new communities.

“We are excited to be adding these new stores to our network in Woodstock and Saint John,” said Lori Stickles, CEO of Cannabis NB. “Like our other Cannabis NB stores across the province, they will provide the same safe, regulated products and customers will have access to our knowledgeable team members to guide them through their purchases.”

The Saint John pop-up store is quite unique and has been customized to fit into the container village model being offered this summer by Area 506. It will provide convenience to customers in uptown Saint John, while also catering to cruise ship passengers and tourists. The corporate Cannabis NB store in Woodstock is slightly smaller than existing stores but will still offer all Cannabis NB’s most popular products as well as the latest offering in edibles, dry flower, topicals, seeds and accessories.

These new Cannabis NB stores will allow better access and convenience to customers in the short-term as Cannabis NB prepares for the launch of a new private retail channel which will see private retailers open stores under their own brands across the province, further increasing legal access and options for New Brunswick consumers.

About Cannabis NB

Cannabis NB, the only legal retailer of recreational cannabis for the province of New Brunswick, manages retail cannabis sales for the Province of New Brunswick. The core focus of the retail model is youth protection, reducing the illicit market, education, and safety. Cannabis NB stores offers a range of safe, legal products with a one-on-one guided retail experience. Cannabis NB launched with 20 stores in 15 communities and is currently in the process of expanding the store network to increase access to safe, legal cannabis options through NB producer farmgate stores, pop-up stores, and private retail opportunities. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years. Fiscal 2022-2023 is a 52-week year.

Media contact:

Emilie Dow

Communications Specialist

506-478-3634

media.relations@anbl.com

NEWS RELEASE
May 3, 2022

CNB releases unaudited fourth quarter and year-end results for 2021-2022

Fredericton, NB – Cannabis NB released their unaudited, draft, fourth quarter results for the 2021-2022 fiscal. Total sales of legal recreational cannabis for the quarter ended April 3, 2022 (14 weeks) was $21.0 million, 6.1 per cent higher than the quarter ended March 28, 2021 (13 weeks). Net income for the quarter ended April 3, 2022, was $4.2 million, an improvement of 22.0 per cent compared to the prior year’s fourth quarter net income of $3.4 million.

Key trends for the fourth quarter (December 27, 2021 – April 3, 2022) compared to the fourth quarter of last year (December 28, 2020 – March 28, 2021) were:

· Online sales decreased to 1.1 per cent of sales for the quarter, down from 1.7 per cent over prior year.

· In store sales represented 98.9 per cent of sales for the quarter, up from 98.3 per cent last year.

· Concentrates sales increased 25.9 per cent, up by $1.1 million.

· Edibles sales increased 47.1 per cent, up by $0.7 million.

· Dried flower sales decreased 3.3 per cent, down by $0.4 million.

· Extracts sales decreased 18.9 per cent, down by $0.2 million.

· Accessories sales increased 5.1 per cent, up by $0.03 million.

· Topicals sales increased 19.1 per cent up by $0.02 million.

· Seeds represented 0.2 per cent of sales for the quarter at 0.05 million.

“I’m extremely proud of the CNB team for their continued commitment to serving New Brunswickers,” said Lori Stickles, Cannabis NB President and CEO. “This fiscal year, we saw great growth and success thanks to our dedicated team who continued to drive the business forward despite the challenges of the COVID-19 pandemic. We’re very proud to have contributed over $ 1 million to the province that will be used to fund valuable programs and services in communities across the New Brunswick.”

“Preliminary, draft and unaudited product sales for the 53-week fiscal year ended April 3, 2022 were $83.8 million, up $8.3 million (11.0 per cent) from the previous 52-week fiscal year (2020-2021), which ended March 28, 2021. Preliminary, draft and unaudited net earnings for the year were $16.4 million, up 51.7% compared to fiscal year 2020-2021’s results of $5.6 million. Audited statements will be included in the corporation’s annual report.”

About Cannabis NB

Media contact:

Emilie Dow

Communications Specialist

506-478-3634

media.relations@anbl.com

NEWS RELEASE

January 25, 2022

Cannabis NB releases third quarter results for 2021-2022

Fredericton, NB – Cannabis NB released their unaudited third quarter results for the 2021-2022 fiscal. Total sales of legal recreational cannabis for the quarter ended December 26, 2021 (13 weeks) were $20.6 million, 6.7 per cent higher than the quarter ended December 27, 2020 (13 weeks). Net income for the quarter ended December 26, 2021 was $3.9 million, an improvement of 41.8 per cent compared to the prior year’s third quarter net income of $2.8 million.

Key trends for the third quarter (September 27, 2021 – December 26, 2021) compared to the third quarter of last year (September 28, 2020 – December 27, 2020) were:

· Online sales decreased to 1.0 per cent of sales for the quarter, down 0.6% over prior year.

· In store sales increased to 99.0 per cent of sales for the quarter, from 98.4 per cent last year.

· Concentrates sales increased 31.1 per cent, up by $1.2 million.

· Edibles sales increased 32.1 per cent, up by $0.4 million.

· Dried flower sales decreased 2.7 per cent, down by $0.3 million.

· Extracts sales decreased 11.8 per cent, down by $0.1 million.

· Accessories sales increased 9.7 per cent, up by $0.07 million.

· Topicals sales increased 65.3 per cent up by $0.05 million.

· Seeds represented 0.1 per cent of sales for the quarter at 0.01 million.

“I wish to take this opportunity to once again thank our customers and our team across the province who have remained diligent with evolving COVID-19 protocols over the past 2 years,” said Lori Stickles, Cannabis NB President and CEO. “Our team has remained resilient throughout and have kept offering a great service to New Brunswickers.”

About Cannabis NB

Media contact:

Marie-Andrée Bolduc

Director of communications

(506) 429-4695

media.relations@anbl.com

Cannabis NB reports $4.7 million profit in second quarter

October 27, 2021

Cannabis NB released their unaudited second quarter results for the 2021-2022 fiscal. Total sales of legal recreational cannabis for the quarter ended September 26, 2021 (13 weeks) were $22.4 million, 11.3 per cent higher than the quarter ended September 27, 2020 (13 weeks). Net income for the quarter ended September 26, 2021, was $4.7 million, an improvement of 46.1 per cent compared to the prior year’s quarter two net income of $3.3 million.

Key trends for the second quarter (June 28, 2021 – September 26, 2021) compared to the second quarter of last year (June 29, 2020 – September 27, 2020) were:

Online sales represented 0.92 per cent of sales for the quarter compared to 1.7 per cent last year.
In store sales represented 99.08 per cent of sales for the quarter compared to 98.3 per cent last year.
Dried flower sales decreased 3.0 per cent, down by $0.4 million.
Accessories sales increased 17.3 per cent, up by $0.1 million.
Extracts sales decreased 10.6 per cent, down by $0.1 million.
Concentrates sales increased 69.1 per cent, up by $2.2 million.
Edibles sales increased 40.3 per cent, up by $0.4 million.
Seeds sales increased 84.9 per cent, up by $0.6 thousand.
Topicals represented 0.5 per cent of sales for the quarter at $0.1 million.

About Cannabis NB

Media contact:

Thomas Tremblay, Communications, CNB,

506-429-2091 or media.relations@anbl.com

Board of Directors announced appointment of President and CEO of ANBL and Cannabis NB

On behalf of the Board of Directors, today I am pleased to announce the appointment of Lori Stickles as President and CEO of ANBL and Cannabis NB effective September 7, 2021.

No stranger to ANBL, Lori is an accomplished Executive Leader with extensive, proven strategic and financial leadership experience. She is as a trusted business advisor who fosters corporate improvement, organizational change, and positive workplace culture through a personable and collaborative leadership style. Lori was also very instrumental in the success of Cannabis NB last year.

Lori joined ANBL/CNB in 2018 as the Vice President and Chief Financial Officer, having acquired the necessary skillset throughout an impressive career that included a continuous growth pattern of accountability and business acumen, and establishing a reputation as a leader. Having received her BBA at UNB in 1990, her Certified General Accountant (CGA) designation in 2003 and her Certified Professional Accountant (CPA) designation in 2014, Lori is a positive example of continuous learning and professional development. She is active in her community through various initiatives as a volunteer or advocate, as well as formal Board involvement. The list is diverse and includes United Way, Habitat for Humanity, Beaverbrook Art Gallery, Chamber of Commerce, local food banks, and supporting improvements in diversity, equity, literacy, and addressing domestic violence.

Lori has been instrumental over the last nine months, leading the corporation as President & CEO in an acting capacity. Simultaneously, she secured the consistency and focus of the business that contributed to the highest result the corporation has experienced. She has led by example and her areas of expertise, including strategic leadership, effective communication, financial management, enterprise risk management, driving results, as well as working through COVID-19 and managing the TEAM through the pandemic have been readily apparent. These competencies and characteristics will continue to serve her, our TEAM, and the people of New Brunswick going forward.

The Board appreciates and acknowledges the effort and expertise of Knightsbridge Robertson Surrette as the third-party recruitment firm that was instrumental through this process, and looks forward to supporting Lori and the entire ANBL/CNB TEAM as we continue to achieve, or exceed, results.

John Correia

Chairman of the Board

Cannabis NB introduces FarmGate program

August 20, 2021

Fredericton, NB – Today, Cannabis NB is pleased to announce it is introducing a new addition to its retail model. The Cannabis FarmGate program will allow licensed New Brunswick cannabis producers to sell their own products onsite at their facilities.

“We are thrilled to launch this program in New Brunswick. There is growing interest from both consumers and producers for this type of initiative across the country and we believe this will create opportunities for the legal recreational cannabis industry,” said Lori Stickles, CEO of Cannabis NB. “The Cannabis FarmGate program will increase visibility for local licensed producers, and provide them with more opportunities to educate customers about their products at their own facility, while also creating potential tourism opportunities.”

To participate in the program, eligible New Brunswick cannabis producers will submit an application to Cannabis NB for consideration. All cannabis products sold at an approved FarmGate store will be required to be grown, produced and packaged onsite and meet all federal regulations prescribed by Health Canada (including packaging and labelling, excise stamps, social responsibility, testing requirements etc.)

About Cannabis NB

Cannabis NB, the only legal retailer of recreational cannabis for the province of New Brunswick, is a subsidiary of ANBL and manages retail cannabis sales for the Cannabis Management Corporation. The core focus of the retail model is youth protection, reducing the illicit market, public education, and safety. Twenty stores in fifteen communities offer a range of products with a one-on-one guided retail experience. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years.

Media contact: Tom Tremblay, Public Relations Specialist, media.relations@anbl.com

Cannabis NB reports $19.9 million-dollar first quarter

Fredericton, NB – Cannabis NB released their unaudited first quarter results for the 2021-2022 fiscal. Total sales of legal recreational cannabis for the quarter ended June 27, 2021 (13 weeks) were $19.9 million, 21.5 per cent higher than the quarter ended June 28, 2020 (13 weeks). Net income for the quarter ended June 27, 2021, was $3.5 million, an improvement of 160.3% compared to the prior year’s quarter one net income of $1.4 million.

Key trends for the first quarter (March 29, 2021 – June 27, 2021) compared to the first quarter of last year (March 30, 2020 – June 28, 2020) were:

Online sales represented 1.3 per cent of sales for the quarter compared to 3.3 per cent last year.
In store sales represented 98.7 per cent of sales for the quarter compared to 96.7 per cent last year.
Dried flower sales increased 5.3 per cent, up by $0.6 million.
Accessories sales increased 30.5 per cent, up by $0.2 million.
Extracts sales decreased 15.8 per cent, down by $0.2 million.
Concentrates sales increased 98.4 per cent, up by $2.3 million.
Edibles sales increased 58.9 per cent, up by $0.4 million.
Seeds sales increased 574.8 per cent, up by $0.1 million.
Topicals represented 0.4 per cent of sales for the quarter at $0.1 million.

About Cannabis NB

Media contact: Tom Tremblay, tom.tremblay@anbl.com

Introducing the Cannabis NB Cup – a new kind of cannabis competition

July 5, 2021

Fredericton, NB – Cannabis NB is launching its first ever “Cannabis NB Cup” competition. This unique competition will pit premium dry flower products from eight Atlantic Canadian licensed producers against each other – with the winners decided by 600 judges.

Until July 28^th, a limited number of customers will be able to purchase a Cannabis Cup box which allows the purchaser to act as a judge in the competition. Each box has eight 3.5 g packages (one ounce) of cannabis flower, one from each of the participating licensed producers and a full judging tool kit. The judging will be done online via a detailed survey and participants will have the opportunity to score the products amongst 5 award categories:

Best in Grow top score overall winner
Runner up- second highest overall score
Honorable mention-third highest overall score
Best Looking - Top score in combined Appearance and Aroma
Best Experience – Top score in Consumption and Experience

Entrants in the competition were carefully selected and had to meet specific THC and terpene requirements in order to be included.

“We are very excited to be launching our first Cannabis NB Cup. It’s a great opportunity for our partners in Atlantic Canada to showcase their best dry flower products, and a chance for our customers to participate directly in this unique event as judges.” said Lara Wood, VP of Operations for Cannabis NB. “After the launch of the Atlantic Edition, our team will be working to expand the competition to include competitors from across Canada for the Cannabis NB Cup National Edition in the fall.”

Award winners will be announced on July 30^th and along with bragging rights, the overall winner “Best in Grow” will be showcased in a Cannabis NB Cup display in every Cannabis NB store across the province and win an automatic position to be a contender in the Cannabis NB Cup National Edition.

Competition boxes are only available at Cannabis NB storesfor a retail price of $250 and judges will be able to vote online until July 28. We are all looking forward to seeing who our judges crown the winner.

About Cannabis NB

Media contact: Marie-Andrée Bolduc, Director of Communications, media.relations@anbl.com

Cannabis NB reports unaudited fourth quarter and year end results - 2020-2021

April 27, 2021

Fredericton, NB - Cannabis NB released its unaudited results for the fourth quarter ended March 28, 2021. Total sales of legal recreational cannabis for the quarter (13 weeks) were $19.8 million, 41.2% higher than the quarter ended March 29, 2020 (13 weeks). Preliminary, unaudited net earnings for the quarter were $3.4 million.

“I am extremely proud of our team and their success this year despite the obstacles set forth by the COVID-19 pandemic. Our dedicated team has been our strongest asset since launch in 2018 and continue to be the main driver in the success of the business,” said Lori Stickles, Acting CEO and President. “Cannabis NB has experienced a great deal of growth since launch, ending this fiscal year with its fifteenth consecutive profitable period.”

Key result trends for the fourth quarter (December 28, 2020 - March 28, 2021) compared to the fourth quarter last year (December 30, 2019 - March 29, 2020) were:

Online sales represented 1.7 per cent of sales for the quarter compared to 1.4 per cent last year.
In store sales represented 98.3 per cent of sales for the quarter compared to 98.6 per cent last year.
Dried flower sales increased 20.6 per cent, up by $2.1 million.
Accessories sales increased 22.9 per cent, up by $0.1 million.
Extracts sales decreased 3.3 per cent, down by $0.04 million.
Concentrates sales increased 157.8 per cent, up by $2.6 million.
Edibles sales increased 151.0 per cent, up by 0.8 million
Topicals represented 0.4 per cent of sales for the quarter at $0.09 million.

Preliminary, unaudited total product sales for the fiscal year ended March 28, 2021 were $75.5 million, up $30.6 million (68.2 per cent) from the previous fiscal year, which ended March 29, 2020. The preliminary, unaudited net income for the year ended March 28, 2021 was $10.8 million, an improvement of 353% compared to the previous year’s loss of $4.3 million.

Audited statements will be included in Cannabis NB’s annual report. Expenses for Cannabis NB’s Board of Directors and the Acting President & CEO for the fourth quarter are available online.

About Cannabis NB

Media contact: Tom Tremblay, Communications for Cannabis NB, media.relations@anbl.com

We are pleased government has seen the potential in our business and chosen not to privatize the distribution of cannabis in our province. Cannabis NB has seen strong growth quarter over quarter and as the legal industry continues to mature, we are confident that will continue and excited about the opportunities it presents.

Of course, none of this could have been achieved without our team. We thank them for their hard work and commitment during a challenging year which required much adaptability to keep themselves and our customers safe during a pandemic. We know they will continue to work hard for New Brunswickers moving forward.

We also wish to thank our customers and partners, who have been understanding and supportive since launch in October 2018.

Now that this decision has been made, we are excited to be able to look to the future and continue to improve the customer experience, grow the business and explore opportunities that continue to benefit our province.

Statement from the Chair of the Board of Directors, John Correia: “We are pleased with the government’s decision and we are looking forward to examining how we can grow the business. On behalf of the entire Board of directors, I want to thank then entire Cannabis NB team. We are so proud of the work they did. Throughout this process, they always stayed the course and focused on the business.”

Cannabis NB releases third-quarter results

January 13, 2021

FREDERICTON, NB – Cannabis NB today released its unaudited results for the third quarter ended December 27, 2020 (13 weeks).

Total sales for the quarter were $19.3 million, 76 per cent higher than the quarter ended December 29, 2019 (13 weeks).

“For the fourth consecutive quarter, Cannabis NB has generated profits”, said Cannabis NB’s acting President and CEO Lori Stickles. “The net profit for the third quarter was $2.8 million, which is a 360 per cent increase year over year. We anticipate ending the fiscal year in a strong position with $10 million in profit.”

“I am extremely pleased with the effort from the Cannabis NB team and the progress of the business over the last year,” said John Correia, chair of the board of directors of Cannabis NB. “The growth has been remarkable, and I feel confident it is sustainable. We are on track for a strong fourth quarter to finish the year.”

Cannabis NB’s net-profit for the fiscal to date is $7.4 million.

Key trends for the third quarter (September 28, 2020 – December 27, 2020) compared to the third quarter of last year (September 30, 2019 to December 29, 2019) were:

Online sales represented 1.6 per cent of sales for the quarter compared to 1.1 per cent last year.
In store sales represented 98.4 per cent of sales for the quarter compared to 98.9 per cent last year.
Dried flower sales increased 34.5 per cent, up by $3.1 million.
Accessories sales increased 65.6 per cent, up by $0.3 million.
Extracts sales decreased 8.9 per cent, down by $0.1 million.
Concentrates represented 20.3 per cent, of sales for the quarter at $3.9 million.
Edibles represented 6.6 per cent of sales for the quarter at $1.3 million.

About Cannabis NB

Cannabis NB is the only legal retailer of recreational cannabis in the province of New Brunswick. The core focus of Cannabis NB is to offer a safe and quality product for consumers at a competitive price. It serves consumers through 20 stores to offer an in person guided retail experience, as well as through online delivery and express methods. Cannabis NB offers a diversified portfolio of cannabis products including flower, extracts, concentrates, beverages, and accessories. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years.

Media contact: Thomas Tremblay - Tom.Tremblay@anbl.com

News release

President and CEO of Alcool NB Liquor and Cannabis NB to resign

Fredericton, NB – Patrick Parent, the president and CEO of Alcool NB Liquor (ANBL) and Cannabis NB, has decided to return to a CEO role in the private sector.

“On behalf of the board of directors, I thank Patrick for his dedication to his teams during his tenure,” said John Correia, chair of corporation’s board. “Patrick’s leadership has been instrumental in Cannabis NB’s ongoing success and the development of the ANBL strategic plan.”

Parent joined ANBL and CNB in September of 2019 as CEO and President.

“This was not an easy decision. During my time with ANBL and Cannabis NB, I’ve seen first-hand the dedication and commitment both teams have to managing and operating successful retail businesses for the people of New Brunswick,” said Parent. “The tenacity and resiliency the teams have shown, especially during a global pandemic, has made me proud.”

Correia and the entire board wish Parent and his family happiness in the future, and success in his new role.

Media contact: Tom Tremblay, communications, media.relations@anbl.com.

Cannabis NB reports profitable quarter

October 1, 2020

Fredericton, NB – Cannabis NB reported a profit of $3.3 million for their second quarter of fiscal 2020-2021. Total sales of legal recreational cannabis for the quarter were $20.1 million, 87.1 per cent higher than the quarter ended September 29, 2019, and a 23.1 per cent increase over the first quarter of this year.

“We said we would fix our business and we have,” said Cannabis NB President and CEO Patrick Parent. “Our year to date results are showing that we now have a very profitable and sustainable business. I believe Cannabis NB will only continue to grow, remain profitable and offer New Brunswickers the best return on their investment in us.”

Cannabis NB’s net-profit for the fiscal to date is $4.6 million. The EBITDA growth year over year is $8.3 million which was driven by an increase in gross profit of $6.1 million (81.4 per cent) and a corresponding decrease in operating expenses of $2.1 million (24.1 per cent).

Key trends for the second quarter (June 29, 2020 – September 27, 2020) compared to the second quarter of last year (July 1, 2019 to September 29, 2019) were:

Online sales represented 1.7 per cent of sales for the quarter compared to 1.1 per cent last year.
In store sales represented 98.3 per cent of sales for the quarter compared to 98.9 per cent last year.
Dried flower sales increased 53.4 per cent, up by $4.8 million.
Accessories sales increased 71.0 per cent, up by $0.3 million.
Extracts sales decreased 6.3 per cent, down by $0.08 million.
Concentrates represented 16.1 per cent of sales for the quarter at $3.2 million.
Edibles represented 4.9 per cent of sales for the quarter at $1.0 million.
Topicals represented 0.3 per cent of sales for the quarter at $0.06 million.

About Cannabis NB

Cannabis NB is the only legal retailer of recreational cannabis in the province of New Brunswick. The core focus of Cannabis NB is to offer a safe and quality product for consumers at a competitive price. It serves consumers through 20 stores to offer in person guided retail experience, as well as online delivery and express methods. Cannabis NB offers a diversified portfolio of cannabis products including flower, extracts, concentrates, beverages, and accessories. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years.

Media contact: Thomas Tremblay - Tom.Tremblay@anbl.com

Cannabis NB reports $1.4 million profit in first quarter

July 8, 2020

Fredericton, NB – Cannabis NB released the unaudited first quarter results for the 2020-21 fiscal. Total sales of legal recreational cannabis for the quarter ended June 28, 2020 (13 weeks) were $16.3 million, 78.7 per cent higher than the quarter ended June 30, 2019 (13 weeks) and resulted in a $1.4 million profit for the organization.

“Cannabis NB has made a very positive turnaround to date,” said Patrick Parent, President and CEO of Cannabis NB. “Starting the fiscal year off with a positive net income growth of over a million dollars is a direct result of aggressive cost cutting measures, renegotiating prices with our suppliers which were passed on to our customers as well the addition of weekly promotions.”

Cannabis NB’s last seven periods have all been profitable and the EBITDA growth year over year is $3.5 million which was driven by an increase in gross profit of $2.4 million (69.4 per cent) and a corresponding decrease in expenses of $1.1 million (24.9 per cent).

Key trends for the first quarter (March 30, 2020 – June 28, 2020) compared to the first quarter of last year (April 1, 2019 – June 30, 2019) were:

Online sales represented 3.3 per cent of sales for the quarter compared to 2.2 per cent last year.
In store sales represented 96.7 per cent of sales for the quarter compared to 97.8 per cent last year.
Dried flower sales increased 49.1 per cent, up by $3.8 million.
Accessories sales increased 62.3 per cent, up by $0.2 million.
Extracts sales increased 7.1 per cent, up by $0.07 million.
Seeds sales decreased 42.3 per cent down by $0.008 million.
Concentrates represented 14.4 per cent, of sales for the quarter at $2.3 million.
Edibles represented 4.6 per cent of sales for the quarter at $0.8 million.

“We continue to diversify the products we carry to offer our customers’ a wide selection at various price points. We are adding new products like topicals, beverages and various concentrates and doing so at a price point that is competitive with the illegal market,” added Parent.

About Cannabis NB

Cannabis NB, is the only legal retailer of recreational cannabis in the province of New Brunswick. The core focus of Cannabis NB is to offer a safe and quality product for consumers at a competitive price. It serves consumers through 20 stores to offer in person guided retail experience, as well as online delivery and express methods. Cannabis NB offers a diversified portfolio of cannabis products including flower, extracts, concentrates, beverages and accessories. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years.

Media contact: Please email media.relations@anbl.com

Cannabis NB reports unaudited fourth quarter and year end results – 2019-2020

April 28, 2020

Fredericton, NB - Cannabis NB released its unaudited results for the fourth quarter ended March 29, 2020. Total sales of legal recreational cannabis for the quarter (13 weeks) were $14.0 million, 43.9% higher than the quarter ended March 31, 2019 (14 weeks).

Increased sales in each of the periods of the fourth quarter resulted in Cannabis NB ending the quarter with a profit of $0.5 million – the first positive quarter since the legalization of Cannabis.

The last two weeks of the quarter marked the beginning of emergency measures to respond to COVID-19 requiring Cannabis NB to adapt very quickly to ensure customer and team safety. It is estimated that the impact of COVID-19 on sales was during the last two weeks of the quarter was an increase of approximately five per cent. In addition, during the same period additional expenses in response to COVID-19 totalled approximately $27,000.

Key result trends for the fourth quarter (December 30, 2019 - March 29, 2020) compared to the fourth quarter last year (December 24, 2018 - March 31, 2019) were:

• Online sales represented 1.4% of sales for the quarter compared to 3.5% last year.

• In store sales represented 98.6% of sales for the quarter compared to 96.5% last year.

• Dried flower sales increased 22.5%, up by $1.9 million.

• Accessories sales increased 80.4%, up $0.2 million.

• Extracts sales decreased 1.7%, down by $0.02 million.

• Seeds sales decreased 88.2%, down by $ 0.02 million.

• Concentrates represented 12.0% of sales for the quarter at $1.7 million.

• Edibles represented 4.0% of sales for the quarter at $0.6 million.

Preliminary, unaudited sales for CNB’s first full fiscal year, which ended on March 29, 2020 were $44.9 million, up $26.3 million (141.0 per cent) from the previous fiscal year, from date of incorporation, July 3, 2018 to March 31, 2019 (CNB’s first sale of recreational use cannabis occurred on October 17, 2018). The preliminary, unaudited net loss for the year ended March 29, 2020 was $4.3 million, an improvement of 66.0% compared to the previous year’s loss of $12.5 million. Audited statements will be included in Cannabis NB’s annual report.

Cannabis NB also released the expenses of the board of directors and of the President and Chief Executive Officer for the fourth quarter. The expenses are available online.

About Cannabis NB

Cannabis NB, the only legal retailer of recreational cannabis for the province of New Brunswick, is a subsidiary of ANBL and manages retail cannabis sales for the Cannabis Management Corporation. The core focus of the retail model is youth protection, reducing the illicit market, public education and safety. Twenty stores in 15 communities offer a range of products with a one-on-one guided retail experience. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years.

Media contact: Tom Tremblay, tom.tremblay@anbl.com

UPDATE ON OUR COVID-19 RESPONSE

March 23 2020

At Cannabis NB our priority remains on keeping our team members and customers safe.

We are continuously monitoring the situation and are implementing measures to help keep our community safe.

New measures being implemented this week include:

Requiring all customers and team members to complete a self-screening questionnaire BEFORE entering our stores. (You can find the questionnaire here.)

These are in addition to measures already implemented including:

No longer accepting cash payments.
Implementing social distancing practices.
Practicing frequent hand washing and hygiene practices.
Increasing sanitization within stores.
Reducing our hours and closing on Sunday.

We apologize for any inconvenience, however, the health and safety of our customers and teams remain our number one priority

UPDATE ON OUR COVID-19 RESPONSE

March 20 2020

UPDATE ON OUR COVID-19 RESPONSE

March 19 2020

For the safety of our team members and our customers CNB’s preferred method of payment is debit or credit card. We are asking all our customers to please pay with their debit or credit cards if possible.

CNB

Message to our valued customers and partners

At Cannabis NB, the health and safety of our team members, customers and partners is our number one priority as we navigate the ongoing situation around COVID-19.

The team at Cannabis NB is continuously monitoring the situation and making changes as necessary based on advice from federal and provincial public health officials. As a result, customers may notice a change in their experience when visiting us in store – all these changes are to help keep our team, customers and the community as safe as we can.

As per the direction of the federal government, any team members who have traveled outside of Canada as of March 13, 2020 are being asked to self-isolate for 14 days. We are working with our team members on a case-by-case basis to lessen the stress on them and their families due to this situation and we will ensure that no one loses pay for COVID-19 related absences.

We have cancelled all out-of-province travel for our team until further notice. Additionally, all team members who can work from home are asked to do so and we are postponing or moving meetings and interviews to virtual options.

We are also increasing sanitization practices within our stores to ensure surfaces are routinely cleaned and that employees are reminded of best practices like frequent hand washing and hygiene practices that reduce the spread of respiratory viruses like COVID-19. We have also temporarily removed all paper marketing materials, tablets and sensory containers from our shops to help protect our customers and team.

At this time, we do not anticipate any impact on our supply and are routinely monitoring the situation by working with our licensed producers.

Customers are also reminded that they can buy products online through our website https://www.cannabis-nb.com/ or can use our Cannabis NB Express option where you can pay online and pick up with limited interactions in-store. We will continue operating as long as it is safe to do so based on the advice and recommendations of our public health officials.

Patrick Parent

President & Chief Executive Officer

Cannabis NB issued third quarter financial results

January 28, 2020

FREDERICTON, (N.B) - Cannabis NB released its unaudited results for the third quarter ended December 29, 2019. Total sales for the quarter (13 weeks) were $11.0 million, 23.7 per cent higher than the quarter ended December 23, 2018 (10 weeks).

Key product sales trends for the third quarter (September 30, 2019 - December 29, 2019) compared to the third quarter last year (October 17, 2018 - December 23, 2018) were:

Online sales represented 1.1% of sales for the quarter compared to 4.9% last year
In store sales represented 98.9% of sales for the quarter compared to 95.1% last year
Dried flower sales increased 17.6%, up by $1.35 million
Extracts sales increased 46.4%, up by $0.38 million
Accessories, and Seed sales increased 22.6%, up $0.08 million
Concentrates represented 1.5% of sales for the quarter at $0.2 million (Legalized, December 17, 2019)
Edibles represented 1.1 % of sales for the quarter at $0.1 million (Legalized, December 17, 2019)

About Cannabis NB

Cannabis NB, the only legal retailer of recreational cannabis for the province of New Brunswick, is a subsidiary of ANBL and manages retail cannabis sales for the Cannabis Management Corporation. The core focus of the retail model is youth protection, reducing the illicit market, public education and safety. 20 stores in 15 communities offer a range of products with a one on one guided retail experience. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years.

Media contact: Thomas Tremblay, Communications, ANBL, 506-429-2091 or Tom.Tremblay@anbl.com

Limited selection of new recreational cannabis products gradually available at Cannabis NB

December 20, 2019

FREDERICTON, (N.B.) – Cannabis NB will have a limited variety of new recreational adult-use cannabis products available in stores and online as part of the new phase of cannabis legalization in Canada. The available products will include a limited selection of gummies, chocolates, and vape products. Additional products like traditional concentrates (hash, shatter, wax, etc.), beverages, and topicals will become available later this winter, into the spring and summer. Over the coming days and weeks, customers are encouraged to check the Cannabis NB website for product availability.

“Many licensed producers will be gradually introducing their new recreational cannabis product offering as they go through the licensing procedures as required by Health Canada, and as they finalize their testing, production and distribution,” said Lara Wood, General Manager of Cannabis NB. “Even with a limited initial selection of products, our goals is to provide customers with a variety of prices and an educational experience as they familiarize themselves with these new categories of products.”

The price range will vary as the portfolio of products expands with additional products, formats and brands becoming available in the new year.

Cannabis NB has a total of 21 supply partnerships with Licensed Producers across Canada with the intent to add more partnerships in the new year. Only a few partners will have new product available in December as most of them are expected to launch their new products into the retail market over the next few months.

Existing supply partners:

7ACRES
Aphria
Aurora/Med Releaf
Blissco
Canopy Growth/Tweed
FIGR
High Park
Highland Grow
Organigram
Tidal Health
UP Cannabis
Zenabis

New supply partners:

ABcann Medicinals
Auxly/Dosecann
Canna Farms
Cronos/Peace Naturals
Emerald Health Therapeutics
Hexo/Truss
Sproutly/Toronto Herbal
Sundial
The Green Organic Dutchman

Some of the new products will utilize new methods of consumption that may be unfamiliar to customers and may have a quicker onset time than traditionally anticipated. Customers are encouraged to learn as much as possible about the new products and their potential effects at GoodToKnowNB.ca as well as speaking with the well-trained team at Cannabis NB stores who are ready to answer customer questions.

Resources:

Good to Know: https://goodtoknownb.ca/

Cannabis NB: https://www.cannabis-nb.com/

About Cannabis NB

Cannabis NB, the only legal retailer of recreational cannabis for the province of New Brunswick, is a subsidiary of ANBL and manages retail cannabis sales for the Cannabis Management Corporation. The core focus of the retail model is youth protection, reducing the illicit market, public education and safety. 20 stores in 15 communities offer a range of products with a one on one guided retail experience. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years.

Media contact: Marie-Andrée Bolduc, Communications, Cannabis NB, marie-andree.bolduc@cannabis-nb.com

Below is a statement from ANBL/Cannabis NB CEO Patrick Parent regarding the Provincial Government’s decision to issue a request for proposal regarding the sale of recreational cannabis in NB.

November 14, 2019

“The recent announcement and process regarding the future sale and distribution of cannabis in New Brunswick rests with the provincial government. At Cannabis NB, we intend to remain clearly focused on improving prices and lowering costs.

We have clearly stated on numerous occasions that we must offer more competitive products, we couldn’t agree more on this point. In the two months since I joined the ANBL/CNB team, I have sent a clear message to our organization that we have to build on our progress in competing on price and availability. Cannabis NB’s great team has risen to this challenge by negotiating lower prices with producers – products competitive with the illegal market have been available in our stores for a few weeks now and I can assure our customers that the team will continue to compete.

We will continue to make consumers aware of our offers, albeit within the very restrictive regulatory framework around advertising. We will continue to offer an exceptional educational in-store and online experience fully respecting the federal and provincial laws governing the cannabis industry. Furthermore, I want to reassure our customers that we will work diligently to offer a selection of legal edible cannabis products in the coming months.

Until such time as the retail model changes, Cannabis NB will manage all aspects of its operations in order to provide the best value to its customers and its shareholders.”

Cannabis NB issues second quarter results

October 29, 2019

FREDERICTON, (N.B) - Cannabis NB released its unaudited results for the second quarter from July 1, 2019 to September 29, 2019. Total sales of legal recreational cannabis for the quarter were $10.7 million.

Key result trends for the quarter were:

Online sales represented 1.1% of sales for the quarter at $0.1 million.
In store sales represented 98.9% of sales for the quarter at $10.6 million.
Dry flower sales represented 84.5% of sales for the quarter at $9.1 million.
Extracts sales represented 11.3% of sales for the quarter at $1.2 million.
Seeds sales represented 0.1% of sales for the quarter at $ 0.07 million.
Accessories sales represented 4.1 % of sales for the quarter at $0.4 million.

Cannabis NB also released the expenses of the board of directors and of the president and chief executive officer for the second quarter. The expenses are available online.

About Cannabis NB

Cannabis NB, the only legal retailer of recreational cannabis for the province of New Brunswick, is a subsidiary of ANBL and manages retail cannabis sales for the Cannabis Management Corporation. The core focus of the retail model is youth protection, reducing the illicit market, public education and safety. 20 stores in 15 communities offer a range of products with a one on one guided retail experience. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years.

Media contact: Marie-Andrée Bolduc, Communications, Cannabis NB, marie-andree.bolduc@cannabis-nb.com.

Cannabis NB issues first quarter financial results

August 1, 2019

FREDERICTON (N.B.) – Cannabis NB today issued first quarter financial results from April 1 to June 30, 2019. Total sales revenue of legal recreational cannabis for the quarter were $ 9.1 million.

Key result trends for the quarter were:

Online sales represented 2.2% of sales for the quarter at $0.2 million
In store sales represented 97.8% of sales for the quarter at $8.9 million
Dry flower sales represented 85% of sales for the quarter at $ 7.8 million.
Extracts sales represented 11% of sales for the quarter at $1.0 million.
Seeds sales represented 0.2% of sales for the quarter at $ 0.02 million.
Accessories sales represented 3.8 % of sales for the quarter at $0.3 million.

Cannabis NB also released the expenses of the board of directors and of the president and chief executive officer for the first quarter. The expenses are available online.

About Cannabis NB

Cannabis NB, the only legal retailer of recreational cannabis for the province of New Brunswick, is a subsidiary of ANBL and manages retail cannabis sales for the Cannabis Management Corporation. The core focus of the retail model is youth protection, reducing the illicit market, public education and safety. 20 stores in 15 communities offer a range of products with a one on one guided retail experience. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years.

Media Contact: Marie-Andrée Bolduc, Communications, Cannabis NB, 506-429-4695 or marie-andree.bolduc@cannabis-nb.com

Cannabis NB Express now available

July 16, 2019

FREDERICTON (GNB) – Cannabis NB Express – a pay online, pick up in-store service – is now available to adults 19 years and older. This new feature will provide convenience to customers who would like to make an online purchase and pick it up in a store near them.

“Product availability and consistency is starting to improve, and we have many returning customers who are comfortable with the products and the process, so offering this option will offer added convenience while still giving customers the option to talk with our team, and ask questions,” said Lara Wood, General Manager of Cannabis NB.

The Cannabis NB website has new features allowing customers to select the store near them, select filters, see available products within their selected store and complete the order quickly and easily online. Customers wanting to take advantage of the Express feature can create an account on cannabis-nb.com and select their preferred store. Once the order has been prepared by team members in the selected store, a “Ready to Pick Up” email will be sent to the customer advising them they can come by the store at any point. A valid piece of identification will be required upon pick up at the store. The order will be held and available for 72 hours.

Additional information regarding Cannabis NB Express is available here.

About Cannabis NB

Cannabis NB, the only legal retailer of recreational cannabis for the province of New Brunswick, is a subsidiary of ANBL and manages retail cannabis sales for the Cannabis Management Corporation. The core focus of the retail model is youth protection, reducing the illicit market, public education and safety. 20 stores in 15 communities offer a range of products with a one on one guided retail experience. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years.

Media Contact: Marie-Andrée Bolduc, Communications, Cannabis NB, 506-429-4695 or marie-andree.bolduc@cannabis-nb.com

Cannabis NB releases unaudited quarterly and year-end results

April 30, 2019

FREDERICTON (GNB) – Cannabis NB today released its unaudited results for the quarter ending March 31, 2019 as well as its unaudited year-end results. Total sales of legal cannabis for the quarter were $ 9.7 million, resulting in year-end of $18.6 million.

Key result trends for the quarter were:

Online sales revenue was $0.3 million
In store sales revenue was $9.4 million
Dry flower sales represented 85% of sales for the quarter at $ 8.3 million, $16 million for year-end.
Extracts sales represented 12% of sales for the quarter at $1.2 million, $2.0 million for year-end
Seeds sales represented 0.2% of sales for the quarter at $ 0.02 million, $0.02 million for year-end.
Accessories sales represented 2.7 % of sales for the quarter at $0.3 million, $0.6 million for year-end.
The loss was $4.6 million for the quarter, down from $7.1 million in the last quarter, representing a year-end loss of $11.7 million.

“We knew there would be challenges and unknowns in this brand new industry but we are confident the objectives for this model intended by the Federal and Provincial governments are being met, as we keep providing a safe and regulated product to adults, reducing the illicit market and creating public awareness and education,” said Lara Wood, General Manager of Cannabis NB. “The value of this model and investment is long term, both from a public policy perspective and the returns of these investments will take time to mature, especially with a persisting supply challenge across Canada.”

As the parent company, ANBL will consolidate Cannabis NB’s results into its year-end results. Cannabis NB also released the expenses of the board of directors and of the president and chief executive officer for the third quarter. The expenses are available online.

Cannabis NB, the only legal retailer of recreational cannabis for the province of New Brunswick, is a subsidiary of ANBL and manages retail cannabis sales for the Cannabis Management Corporation. The core focus of the retail model is youth protection, reducing the illicit market, public education and safety. 20 stores in 15 communities offer a range of products with a one on one guided retail experience. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years.

Media contact: Marie-Andrée Bolduc, Communications, Cannabis NB, 506-429-4695 or marie-andree.bolduc@cannabis-nb.com.

Three additional licensed producers partnering with Cannabis NB

26 March 2019

FREDERICTON (GNB) – Cannabis NB has added three licensed producers to its list of suppliers providing adult-use recreational cannabis products.

The addition of Supreme’s 7ACRES Brand in February, and more recently, Up Cannabis and Blissco, represents the three latest licensed producers who have partnered with Cannabis NB to provide products online and in its 20 stores across the province. Cannabis NB will work with all three suppliers on a regular basis to determine what is available in terms of quantities and types of products. 7Acres products are now available in Cannabis NB stores and Up Cannabis and Blissco will begin to sell their products over the next few weeks and months.

“We are pleased to be working with Supreme, Up Cannabis and Blissco to help us expand our portfolio of safe adult-use products,” said Lara Wood, General Manager of Cannabis NB. “It’s important to note that although adding new products to our network will help, and while we have seen improvement over the past few months, the national supply challenge is ongoing and will not stabilize over night, it will be a gradual process to achieve a normalized supply level.”

Other existing licensed producers partnering with Cannabis NB are CannTrust, Aphria, Canopy Growth, OrganiGram, Zenabis, totalling 8 producers.

About Cannabis NB

Media contact: Marie-Andrée Bolduc, Communications, Cannabis NB, 506-429-4695 or marie-andree.bolduc@cannabis-nb.com.

Cannabis NB releases quarterly results

25 January 2019

FREDERICTON (GNB) – Cannabis NB today released its unaudited results for the quarter ending December 23, 2018. Total sales since the launch of legal cannabis beginning on October 17th, 2018 were $8. 6 million.

Key sales trends for the quarter were:

Online sales revenue were $0.4 million
In store sales revenue were $8. 2 million
Dry flower sales represented 87% of sales at $ 7.5 million
Oils and capsule sales represented 9% of sales were at $0.8 million
Accessories sales represented 4% of sales were at $0.3 million

“Overall, we are pleased with how the stores and the experience have been received by customers as we enter in a new legalized channel of retail. The feedback we have received from customers about the education and the experience at Cannabis NB has been largely positive and our team has been focused on delivering an informed and positive customer experience,” said Brian Harriman, president and CEO of Cannabis NB. “The national supply shortage continues to be our biggest challenge. This impacts not only the quantity of product that are available, but the variety of products that Cannabis NB is able to offer. The retail portfolio has been limited since launch and has made it difficult to offer the breadth and variety of products that some customers are looking for. We continue to work closely with our current partners and engage new Licensed Producers to expand our portfolio and product volume, but supply is slowly moving in a positive direction.”

Cannabis NB, the only legal retailer of recreational cannabis for the province of New Brunswick, is a subsidiary of ANBL and manages retail cannabis sales for the Cannabis Management Corporation. The core focus of the retail model is youth protection, reducing the illicit market, public education and safety. 20 stores in 15 communities offer a range of products with a one on one guided retail experience. Cannabis NB’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every 5 to 6 years.

The corporation also released the expenses of the board of directors and of the president and chief executive officer for the third quarter. The expenses are available online.

Media contact: Marie-Andrée Bolduc, Communications, Cannabis NB, 506-429-4695 or marie-andree.bolduc@cannabis-nb.com.

About Us

Strategic Plan:

Resources:

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Quarterly Results:

Annual Reports:

In The News:

Celebrating Success

Looking to the Future

NEWS RELEASE

UPDATE ON OUR COVID-19 RESPONSE

We apologize for any inconvenience, however, the health and safety of our customers and teams remain our number one priority

UPDATE ON OUR COVID-19 RESPONSE

UPDATE ON OUR COVID-19 RESPONSE

We strive to educate everyone on what Cannabis is all about. It's time to start having open conversations. Engage. Inform. Inspire. Challenge.

We strive to educate everyone on what Cannabis is all about. It's time to start having open conversations.

Engage. Inform. Inspire. Challenge.