01:39:30 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,020,378,291
Close 2019-11-15 C$ 3.59
Market Cap C$ 3,663,158,065
Recent Sedar Documents

Globe/CP say Canopy, rivals hear N.B. privatizing weed

2019-11-15 08:17 ET - In the News

See In the News (C-WEED) Canopy Growth Corp

The Globe and Mail reports in its Friday edition that the New Brunswick government is looking for a private operator to take over its distribution and sales of recreational weed. A Canadian Press dispatch to The Globe reports that Finance Minister Ernie Steeves made the announcement Thursday in Fredericton, saying losses incurred by the provincial pot corporation persuaded the government it was time to turn to the private sector. Mr. Steeves said: "This was the best way to stop losing money at this point. We are responsible for the taxpayers' money, and we have to be prudent with it." Cannabis NB, a provincial Crown corporation, lost almost $12-million in its first six months, and although sales are on the rise, it continues to bleed red ink. It was announced last month that second quarter losses for the current year were $1.5-million. Mr. Steeves said the previous Liberal government went with a bad business model that stuck the province with expensive leases on 20 stores across the province. He also said Health Canada regulations make it hard to be successful. Mr. Steeves said, "I'm convinced Health Canada did not want it to succeed." He said the government request for proposals will seek a single operator.

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