Prairie Harm Reduction is ceasing all operations as of 5 p.m. Thursday, after board members said they learned its financial shortfall is "more dire" than they thought.

The non-profit organization doesn't have the funds to pay staff or continue operations, board vice-chair Brady Knight said.

"The board spent significant time and effort attempting to find alternate financing and operational supports, and weighing the risks associated with the limited options we had available," Knight said at a news conference on Thursday.

Services that the organization was providing include a drop-in centre, support services, education services, family support and two youth homes. Its supervised consumption site was already closed late last month.