Ontario Cannabis Retail Corp. lost C$42 million in the latest fiscal year, according to newly released public documents.
The government-run 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 totaling $106 million during the period.
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.
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