The province is adding more funding to the B.C. Indigenous Cannabis Business Fund, to support indigenous entrepreneurs in the cannabis industry.
The fund was launched back in December of last year, with the goal of helping those in First Nations communities who are looking to join or increase their role in the legal cannabis sector.
Nearly $2.3 million will be added to this fund, on top of the $7.5 million committed by both the provincial and federal governments over three years.
Minister of Public Safety and Solicitor General Mike Farnworth says he’s pleased to see this grant will help support indigenous entrepreneurs in the province.
“It is another step forward in keeping true to our commitment to develop a robust, diverse and sustainable regulated cannabis economy that is inclusive of Indigenous entrepreneurs and First Nations communities,” says Farnworth.
The funds will be distributed in grants that will support business planning and advisory services, along with covering costs for licensing and permitting.
New Relationship Trust will be distributing these grants. They’re an independent non-profit organization dedicated to strengthening the position of First Nations in the province.