Cannabis NB records another $1.5M loss

CannabisNB

Cannabis NB's second-quarter financial results reveal the Crown Corporation lost another $1.5 million.

The Telegraph Journal reports the losses come on the heels of a $2.2 million first quarter loss and losses of $11.7 million during its first six months in business last year.

The paper says the unaudited results from July to September show total sales of legal recreational cannabis for the quarter were $10.7 million, up from $9.1 million in the three months prior.

In store sales represented 98.9% of quarterly sales, while online purchases accounted for 1.1%

The new figures come after Cannabis NB cut eight management positions last week as part of a restructuring aimed at bringing the Crown Corporation out of the red.

With files from the Telegraph Journal