Here’s the report

The Ontario Cannabis Retail Corporation spent at least $10.2 million on costs associated with cannabis stores that never opened, the agency’s financial statements show.

The agency spent $1.2 million on leases and lease terminations and $8.9 million on writing off equipment and renovation costs for the stores, the statements say.

It’s known that the OCRC had hired a number of store managers and was in the process of hiring front-line sales staff for the stores.

Ontario’s shift to a private-sector system came in the leadup to legalization, in mid-August of 2018. The previous Liberal government had planned a network of government-owned stores similar to the province’s liquor stores.

At the time of the announcement, four stores had been leased and renovation work was going on. Randstad, a Montreal-based HR agency, was interviewing applicants to work in a store network beyond the original four stores, people applying for the positions told Global News at the time.

Source:  https://globalnews.ca/news/5907528/ontario-cannabis-stores/?utm_expid=.kz0UD5JkQOCo6yMqxGqECg.0&utm_referrer=https%3A%2F%2Fglobalnews.ca%2Fnews%2F5907528%2Fontario-cannabis-stores%2F

 

Financial Statements

ocrc-2018-19-audited-financial-statements-eng