Auditor General investigating provincial loan to private company

After it closed its doors last month, local company Newfound Genomics gained attention in the media and within the House of Assembly as owner Dr. Wayne Gulliver criticized the government for not fully supporting the life sciences industry. However it now appears that the province’s auditor general, John Noseworthy, may have been investigating the government’s financial involvement with the company months before. Noseworthy’s investigation found that much of the paperwork and required checks of a company – a company which was not named but has a description very similar to that of Newfound Genomics – weren’t done before the investment money was paid out by government.

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