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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

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.

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.