Cannabis NB Lost $11.7M in its First Year of Operation

Article by CTV News

Cannabis NB lost $11.7M in its first year of operation A Cannabis NB retail store is seen in Sackville, N.B. is seen on Sunday, Oct. 14, 2018. Andrew Vaughan Cannabis NB releases report saying they’ve had a big financial loss in first few months of cannabis legalization. Kate Walker reports.

New Brunswick Premier Blaine Higgs says he’ll look at all options, including privatization, after the province’s Crown-owned cannabis retailer recorded a big financial loss in its first year of operation.

Unaudited year-end results released Tuesday show Cannabis NB lost $11.7 million.

“Certainly a loss of $12 million in six months, we’re not going to continue with that activity,” Higgs said Wednesday. “I need to understand the details around the loss. I appreciate there were supply issues that played a big role in that.”

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