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SMITHS FALLS, Ont – Canopy Growth Corp. reported a loss of $ 829 million for the last quarter as it was impacted by impairment and restructuring charges related to the cuts announced late last year

The cannabis company says the loss was $ 243 per diluted share for the December 31-ending quarter, compared with a loss of $ 109 6 million, or 26 cents per share, last year

According to Canopy, last quarter’s results included impairment losses, restructuring and other related charges of 416 million USD and 291 million USD attributable to non-cash changes in fair value primarily due to the company’s higher share price

The company announced in December that it would cease operations at five facilities across the country and lay off more than 200 employees to cut costs

Third quarter net sales for the company were $ 1525 million, down from $ 1238 million for the same quarter last year

Net sales of cannabis were $ 988 million from $ 904 million a year earlier, while other income increased to $ 537 million versus $ 334 million

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Canopy Growth Corporation

World News – CA – Cannabis company Canopy Growth reports $ 829 in 3M Q3 losses, year-over-year sales