Canopy Growth Corp. reported a C$1.28 billion quarterly loss late Wednesday and missed analyst estimates for revenue, sending shares down 10% in after-hours trading.
The world's largest cannabis company by market value, Canopy Growth CGC, -15.23% WEED, -14.68% reported fiscal first-quarter net losses of C$1.28 billion, or C$3.70 a share, compared with losses of C$91 million, or 40 cents a share, in the year-ago period. The more than $1 billion loss was due to the company extinguishing warrants related to the Constellation Brands Inc. STZ, -0.24% investment.
marketwatch
This one hurt.....
But my other one looks to positioning itself to take advantage....
And to add a another twist to the company's story, Aurora has just concluded an agreement with a lenders' syndicate led by Bank of Montreal to increase its available credit by C$160 million. The new credit facility, a combination of short-term loans and revolving credit, will increase Aurora's credit access to C$360 million and is set to mature in two years. CFO Glen Ibbott said that the credit increase recognizes Aurora's position as the industry leader in production, and adds, "Access to this non-dilutive capital is a core funding source the Company intends to utilize as it further executes on its strategic growth initiatives.
yahoo finance
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Specializing in sarcasm and condescending rhetoric since 1971.
Edited: 08/15/2019
at 11:24 AM
by worksuxgetsponsered
Topic Tools
08/15/2019 11:21 AM
