VIVO Cannabis Inc. VVCIF

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Alberta expects to lose money on pot business for next three years 

Alberta said it expects to lose $26 million on its provincial cannabis business and doesn’t expect to book a profit for the next three years, the province said in its fiscal plan released late Thursday. “It is expected to remain negative for the next three years, as set-up, administration and inventory costs exceed revenue,” the province said in its fiscal plan.  Alberta expects to lose $36 million in its current fiscal year, falling to a $25 million loss in fiscal 2021 and $24 million in fiscal 2022. Alberta said it also forecasts adding $74 million in cannabis tax revenue in its current fiscal year and climbing to $84 million in fiscal 2022.