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The federal Liberals had originally proposed a 50-50 split from the proceeds of the excise tax, which Alberta had angrily rejected as inadequate, given the costs provinces would bear in relation to legal weed.

While Ceci and Premier Rachel Notley originally said provinces should get all the revenue, the finance minister told reporters Monday that a 75 per cent take should be seen as a victory.

“The federal government recognized that the 50-50 split they had originally busted out with was unacceptable to provinces,” he said.

Monday’s meeting saw Ottawa and the provinces agree to a two-year deal on cannabis revenues, with the agreement to be reviewed at the finance ministers meeting in December 2018.

The federal tax will be the higher amount of $1 per gram or 10 per cent of a product price. Ottawa will cap its take of the funds at $100 million annually, with anything over that amount going to the provinces.

While the provinces are expected to get about $300 million annually from the federal tax, Ceci said the division among provinces is not yet set and he did not have an estimate of how much Alberta will receive. A per capita split would deliver $30 million to $40 million for the province.

While confirming that there will be a markup and a provincial tax, as well as the federal tax, Ceci said he did not have a revenue projection for those initiatives either.

However, the provincial and federal ministers are aiming for a roughly uniform price across the country of about $10 per gram for legal cannabis, which they believe will undercut the black market.