FREDERICTON — New Brunswick's Crown-owned cannabis retailer is recording a big financial loss in its first year in operation. Unaudited year-end results released Tuesday show Cannabis NB lost $11.7 million. The agency says sales of legal cannabis for the fourth quarter were $9.7 million, resulting in a year-end total of $18.6 million. Last October, former Cannabis NB president Brian Harriman said with overhead and start-up costs, he hoped the 20 stores would at least break even in their first fiscal year. In its budget released earlier this month, Ontario forecast that the Ontario Cannabis Store, a provincially owned wholesaler and online retailer, is on track to lose $25 million in its first year.

Source: Huffington Post April 30, 2019 14:15 UTC