“Canopy must reach profitability to achieve our ambition of long-term North American cannabis market leadership,” he said in a statement to The Canadian Press.
Canopy said the larger loss was driven primarily by non-cash fair value changes and an increase in asset impairment and restructuring costs.Net revenue for what was the third quarter of the company’s financial year totalled $101.2 million, down from $141.0 million a year earlier. The company will now complete post-production flower activity at 99 Lorne St., which is across the street from 1 Hershey and already has a regional distribution centre, bottling facility and beverage capabilities.Article content
As the company transitions its facilities and operations, it will work to balance in-house with third-party manufacturing by focusing internal capabilities on flower, pre-rolls, softgels and oils. It will rely on third-parties when sourcing vapes, beverages, edibles and extracts.Article content Making the goal tough to reach has been the strength of the illicit market, a slow move toward federal legalization in the U.S. and sales that have underwhelmed when compared with lofty estimates some cannabis company executives first foresaw for the industry.Article contentThe average price for cannabis was $11.78 per gram at the start of 2019, shortly after legalization, but fell to $7.50 per gram in 2021, a November report from Deloitte Canada and cannabis research firms Hifyre and BDSA said.
close em all.....stop selling to kids
Like I said from beginning, it will return to mom and pop growers. There is not enough profit for big business to sustain itself. Remember mom n pop can grow for much less/ LB.
Well this legalization didn’t fair well. Guess illegal pot is cheaper
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CP24 - 🏆 30. / 67 Read more »
Source: ctvottawa - 🏆 29. / 67 Read more »