As the first year of federal legalization in Canada draws to a close, many provinces are struggling in their new role as cannabis sellers.

One province, however, is feeling pretty darn good about their performance — financially, in particular.

“A lot of different folks from a lot of different areas in government came together to make this happen,” Prince Edward Island’s director of cannabis operations Zach Currie told CBC News.

“It was a federal decision to move forward with this and under considerable time constraints.”

Kicking off the legal year in cannabis with just three P.E.I. Cannabis stores, located in Summerside, Montague and provincial capital Charlottetown, the province has since opened a fourth dispensary in O’Leary.

Although it may be small, P.E.I. is setting a Canada-wide example in provincial cannabis sales.

“It’s something to be proud of because we look at it through the lens of illicit market displacement,” Currie explained. “These aren’t per capita total consumption; it’s per capita legal consumption.”

Currie says that one of the province’s top priorities post-legalization was to eradicate the illegal market. However, as there aren’t many statistics available for illicit cannabis sales it’s tough to judge the pervasiveness of illicit weed. Currie estimates approximately 35 to 40 per cent of the island’s total cannabis market comes from licensed producers in legal pot shops.

Despite a loss of nearly half a million dollars in the first half of the year, Currie expects the province to take in about $300,000 in profits for the year — largely thanks to the summer tourism season. He also notes that that figure does not include the income from excise and provincial sales taxes.

PEI’s retail system is entirely government-run and private sales and dispensaries are prohibited on the island. Islanders who aren’t seeking instant gratification or can’t make it to stores can also purchase their cannabis online and have it delivered to their home.