April 11, 2018 / 1:46 PM / 7 months ago

Quebec signs weed supply agreements with six Canadian suppliers

TORONTO, April 11 (Reuters) - Hydropothecary Corp, Canopy Growth and Aphria Inc are among six companies that have signed agreements with Quebec's liquor board to supply the province with marijuana when Canada legalizes its recreational use this year, the companies said in separate statements on Wednesday.

MedReleaf Corp, Aurora Cannabis and private equity firm Privateer Holdings-backed Tilray Canada are the other companies to sign the deal to supply the province's cannabis board, which will be created as a subsidiary of the liquor board to oversee marijuana sales.

The companies will supply as much as 62,000 kg (136,687 pounds) of marijuana in total to the province in the first year. Most of the agreements are for at least three years.

Hydropothecary would be the biggest supplier, with a five-year agreement and agreed sales of 100,000 kg in the first three years. The province plans to open 20 government-run stores upon legalization.

Canada's senate is set for a final vote on legalizing marijuana on June 7, with sales expected to start in the fall. Provinces, including Quebec and Ontario, plan to open government-run stores, while others such as Alberta and Saskatchewan will allow private ones. British Columbia plans to have both. (Reporting By Nichola Saminather; editing by Jonathan Oatis)

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