Why New Brunswick Loses Money Selling Weed, and What the Lessons Are
Earlier this week, Cannabis NB CEO Patrick Parent appeared in Fredericton to give provincial lawmakers some bad news.
More than a year after legalization, he told them, New Brunswick’s government-owned cannabis monopoly was still losing money, and had no prospect of making money in the current fiscal year. The closest thing he had to offer as a glimmer of hope was the possibility that Cannabis NB might start to turn a profit in the 2020-21 fiscal year.
For the moment, though, Cannabis NB — which the cash-strapped province once hoped would be a revenue source — is bleeding money, with a $1.5-million loss in the second quarter.
– Read the entire article at Global News.