The provincial government says the failure of Canopy Growth’s cannabis production facility in St. John’s is an unfortunate business failure but it won’t cost the province one cent.

Energy Minister Andrew Parsons says it was a case of a company going too big, too fast.

He says Newfoundland and Labrador is not alone in the collapse of the company’s plans to produce cannabis on a large scale. He noted Canopy had already closed facilities and laid off hundreds of people in several other provinces—a result of a miscalculation of supply versus demand.

The decision to pull out of the province will result in at least a dozen job losses, as opposed to the 140 or so positions that were anticipated if and when the plant started production at the new East White Hills Road in St. John’s.

Parsons also said about $1.9-million in remittances will be paid back to the province by Canopy by this weekend.

Meanwhile, the minister also said he doesn’t believe the supply of cannabis in the province will be an issue going forward.

Parsons added he believes the jobs of workers in retail Tweed stores are safe for the time being.