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CANUCKS OWNER NORTHWEST SPORTS REPORTS C$30M IN LOSSES
Published June 2, 1998
Northwest Sports Enterprises Ltd., the public company that owns the Canucks, reported Friday "a dismal financial picture," according to the CANADIAN PRESS. Northwest said that it incurred a loss of C$30,695,585 or C$30.48 per share for the nine months that ended March 31, compared with a loss of C$15,825,263 or C$15.71 per share for the same period last FY. Northwest said that it needs additional financing to cover its FY '98 operating loss. As "an interim measure," the FY '98 operating loss "is being funded by advances" from Orca Bay Holdings (CANADIAN PRESS, 5/29).