Canopy Growth Corp. reiterated doubts about its ability to stay afloat when the Canadian cannabis producer reported its fiscal 2024 first-quarter results.
In a filing with the U.S. Securities and Exchange Commission, Canopy said it has 259.6 million Canadian dollars ($193 million) in required principal repayments to be settled in cash within the next 12 months.
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“If we are unable to raise additional capital, it is possible that we will be unable to meet certain of our financial obligations,” Canopy disclosed in the filing.
“These matters, when considered in the aggregate, raise substantial doubt about our ability to continue as a going concern.”
Canopy first issued the going concern warning in June.
In a note to investors, Toronto-based BMO Capital Markets analyst Tamy Chen wrote that “the risk with the stock is that our model still requires the company to raise CA$200 million (in fiscal 2025)
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