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Cannabis company Hexo Corp. reports $62.4M first-quarter loss

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Cannabis company Hexo Corp. says it lost $62.4 million in its latest quarter compared with a loss of $12.8 million in the same quarter last year.

The loss amounted to 24 cents per diluted share for the quarter ended Oct. 31, compared with a loss of seven cents per share a year ago when the company had fewer shares outstanding.Net revenue for what was the first quarter of the company's financial year totalled $14.5 million, up from $5.7 million a year ago.

The company said it took a corporate restructuring charge of $3.7 million in the quarter related to severance and other payroll related termination costs.

 

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Over priced low quality garbage.

Allow the government to dictate how you run your business and shit happens.

I know a 16 year old kid who hangs out in the smoking area of our local school who could probably help them turn things around. 😂

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