The NLC is reporting an increase in cannabis sales for the fiscal year ending in April of 2022.
Sales through licensed cannabis retailers increased by 17.2 per cent over the previous year for a total of $61 million. NLC also incurred an increase of $6.8 million in cannabis operating and administrative expenses through the fiscal year—primarily due to an increase in commissions paid to Tier 1 retailers.
In the previous fiscal year, Canopy Growth repaid $1.9 million in premiums to NLC due to the termination of its supply agreement with the province and NLC which contributed to lower than anticipated expenses in 2021.
The NLC lists over 800 products from 27 suppliers and is working with partners to provide more options to meet customer demand. The total number of licenced cannabis retailers increased by two for a total of 39 throughout the province.