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CAN (ON): Ontario finance minister says cannabis execs shouldn't blame govt for weak sales

Ontario’s finance minister is dismissing criticism from cannabis industry executives who attribute their weak sales to the province’s limited number of retail stores.

“The [criticisms are] not fair; but it doesn’t surprise me. Sometimes businesspeople look for all kinds of reasons why things don’t work out,” Rod Phillips told BNN Bloomberg’s Paige Ellis Thursday.

"We’re focused on what is going to be a system that is sustainable, that makes sense for our communities and tackles the black market. We’re confident that we’ll put that forward.”

Phillips said he’s comfortable with the progress the province had made on its rollout of cannabis, given the sensitive nature of it.

His comments come following one of the worst weeks for the industry since legalization, with major cannabis producers like Canopy Growth Corp. and Aurora Cannabis Inc. widely missing revenue estimates and reporting disappointing sales in their latest quarter.

Read more at bnnbloomberg.ca

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