(This story has been updated to note the company’s “going concern” warning.)
Cannabis producer Canopy Growth reported a net loss of 3.3 billion Canadian dollars ($2.5 billion) for its fiscal year ended March 31, and the company warned of its ability to continue as a “going concern.”
The Smiths Falls, Ontario-based business attributed the net loss primarily to a CA$1.6 billion increase in asset impairment and restructuring costs and CA$1.2 billion related to non-cash fair value changes.
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Canopy reported a net loss of $330.6 million for its fiscal 2022.
The company’s management also disclosed a “going concern” warning.
“Management has raised substantial doubt as to the company’s ability to continue as a going concern due to certain material debt obligations coming due in the short term,” according to a regulatory filing with the U.S. Securities and Exchange Commission.
“If we are unable to obtain additional capital,
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