Ontario Cannabis Retail Corp. lost $42 million in the latest fiscal year, according to newly released public documents.
The provincial Crown corporation tasked with online sales and wholesale distribution of recreational pot reported revenues of $64 million for the year ended March 31, 2019.
However, Ontario’s consolidated financial statements show the OCRC, which operates as the Ontario Cannabis Store, racked up expenses totalling $106 million during the period.
(Sponsored)
The story behind Glenview Homes’ 2025 GOHBA award-winning Reveli floor plan
When Glenview Homes’ Design and Drafting Manager Eno Reveli sat down to design a new production floor plan, he wasn’t thinking about awards or show homes. He was thinking about
How shared goals at Tamarack Ottawa Race Weekend strengthen workplace culture
Across workplaces of all sizes and sectors, organizations are continuing to look for meaningful ways to bring people together. Team connection, employee well-being, and community impact are no longer separate
Canada legalized cannabis for adult use on Oct. 17 last year, and the rollout was mired by supply chain issues and product shortages, which largely have been resolved in recent months.
The supply shortages prompted the Ontario government to cap the initial number of retail licences at 25, but the province is in the process of increasing the number of legal pot outlets to 75 by October.
The OCS announced last week that chief executive Patrick Ford would be retiring. Cal Bricker, senior vice-president of horse racing at Ontario Lottery and Gaming Corp., was named interim chief executive while a search for a replacement is conducted.
