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Aurora Cannabis records $67.2M net loss in most recent quarter

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Aurora Cannabis Inc. announced Thursday that it has completed a transformation plan delivering $340 million in annualized savings since February 2020, but said it still incurred a $67.2 million net loss in its most recent quarter.

The plan involved an extensive restructuring and several rounds of layoffs and facility closures over the last three years as it contended with shifting COVID-19 measures and grappled with aligning supply and demand.

The Edmonton company’s goal was to reach profitability based on adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) by the end of 2022.

READ MORE: Aurora Cannabis closes sale of Aurora Polaris facility at EIA for $15M

The company behind brands like Daily Special, Drift, Greybeard and San Rafael achieved that feat with an adjusted EBITDA of $1.4 million in its second quarter ended Dec. 31 compared with a loss of $7.4 million in its first quarter and $7.1 million in the



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Meth, fentanyl, guns seized following year-long drug investigation: Kelowna RCMP

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A drug bust last week saw the long arm of the law stretch across Canada following a year-long investigation.

Kelowna RCMP say they began investigating a local individual in June 2022, and soon found out he had ties to criminal activities not only in B.C., but also in Alberta, Saskatchewan, Manitoba and possibly Ontario.

In fact, they said the unnamed suspect frequently travelled to Vancouver, Burnaby, Chilliwack, Edmonton, Calgary, Winnipeg and Toronto, “engaging in numerous suspicious cash transactions with individuals previously convicted of drug and firearms offences.”

2:19 2 days after setting sobering new record, B.C. marks International Overdose Awareness Day

And nine days ago, on Aug. 31, RCMP said that Kelowna Strike Force members arrested the suspect after he left a known stash location in West Kelowna.

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Afterwards, seven search warrants were



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Mississauga votes to allow legal retail cannabis stores

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Ontario’s largest municipality without any legal cannabis retail stores has voted to now allow the shops.

Mississauga, Ont., was one of dozens of municipalities to bar retail cannabis stores from their communities when legalization came into effect in 2018.

But now, four and a half years later, city council has voted 8-4 to opt in.

It comes after a city report highlighted that Mississauga residents are “disproportionately” served by the illegal market in the absence of legal stores.

Read more: Mississauga set to reconsider ban on cannabis retail stores

Coun. Dipika Damerla put forward the motion, saying that opting out of the legal framework has allowed illegal stores to flourish in the city, including one in her ward that police have unsuccessfully tried six times to shut down.

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Quebec cannabis use remains steady since legalization

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A new study released on Wednesday by Quebec’s statistics institute shows cannabis usage has only slightly increased since legalization in 2018.

Nearly one in five Quebecers used cannabis in 2022, a proportion similar to the previous year, data shows.

Cannabis use has increased by 5 per cent since it was legalized, according to the study which not only shows usage has remained stable since 2018, the trend remains the same for most age groups over the past 15 years — except for teens. Youths aged 15 to 17 are consuming less, but there is a new alarming trend for the under-18 crowd.

Among the different ways to consume cannabis, vaping has gained the most followers over the past year, even though the sale of cannabis vaping products is prohibited in Quebec.

In 2022, 24 per cent of users vaped cannabis, compared to 19 per cent in 2021. For those 15 to 17-years-old,



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