Numlock News: September 17, 2019 • Vanilla, Vinyl, Shipwrecks
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By Walt Hickey Ontario In the past year, the government of Ontario managed to lose $42 million selling marijuana, a business known predominantly for how absolutely simple it is to turn a moderate profit. The Ontario Cannabis Retail Corporation was the provincial Crown corporation in charge of wholesale pot distribution and reported revenues of $64 million on the year ending March 31, 2019, with expenses of $106 million over the period. The roll out of the legal weed — Canada legalized adult marijuana use in October of last year — was said by Ontario’s finance minister to require significant up front costs. Nevertheless, after just one year on the job the CEO of the company resigned, perhaps after realizing the nature of his position did not come with the traditional benefit of playing an hour of
Numlock News: September 17, 2019 • Vanilla, Vinyl, Shipwrecks
Numlock News: September 17, 2019 • Vanilla…
Numlock News: September 17, 2019 • Vanilla, Vinyl, Shipwrecks
By Walt Hickey Ontario In the past year, the government of Ontario managed to lose $42 million selling marijuana, a business known predominantly for how absolutely simple it is to turn a moderate profit. The Ontario Cannabis Retail Corporation was the provincial Crown corporation in charge of wholesale pot distribution and reported revenues of $64 million on the year ending March 31, 2019, with expenses of $106 million over the period. The roll out of the legal weed — Canada legalized adult marijuana use in October of last year — was said by Ontario’s finance minister to require significant up front costs. Nevertheless, after just one year on the job the CEO of the company resigned, perhaps after realizing the nature of his position did not come with the traditional benefit of playing an hour of