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News Apr 30, 2019 11:38 AM EST

Another government-owned cannabis retailer posts massive losses

Well folks, it turns out that it can be possible to lose money selling drugs.

Another government-owned cannabis retailer posts massive losses
Ali Taghva Montreal, QC

This article was published more than 1 year ago, information might not be up to date.

Well folks, it turns out that it can be possible to lose money selling drugs.

New Brunswick’s crown operated cannabis retailer has joined the ever-growing list of government-run marijuana dispensary operations managing to lose millions.

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

New Brunswick is obviously not alone. Quebec, for example, has been advised to end its poorly managed and costly system which at this point only manages to be open four days out of the week, in most cases maintaining an extremely limited stock, and in the end only manages to provide at a massive mark-up in comparison to the black market, all the while losing money.

Ontario in comparison has failed to open more than a handful of stores, while continuing to play a game of cat and mouse with unlicensed retailers which have filled up large parts of the undeserved market.

All this chaos nationwide, of course, has pushed users back to the black market, in turn, removing almost all potential profits from the legal business opportunity by reducing the number of legal customers.

What do you think about the losses being posted by government-controlled or supported marijuana providers?

Join the conversation by commenting below!

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