A businessman hoping to set up a private cannabis business in Portugal Cove-St. Phillips is not at all impressed with marijuana pricing set by the federal government.
Thomas Clarke says setting the price at $10 a gram is too high and will do nothing to cut the black market out of the game.
He believes the black market will actually thrive if that’s the retail price set for cannabis.
He says the current street rate is just over $8 a gram.
The provincial government announced last week that Ontario-based Canopy Growth Corporation will supply and produce marijuana in the province. Clarke says he’s okay with that as long as the NLC regulates the pricing, and that Canopy’s pricing is the same as local businesses.
He says as long as the market is fair, then it will be fine.
Thomas H. Clarke Distribution is hoping to be set up in the new year. He believes the 8,000 to 12,000 kilograms of cannabis that will be produced through Canopy won’t meet the demand, and is only about half of what the province will smoke in a year.