A Leaky Canopy

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CBJ — The news for Canopy Growth Corp. was all wet after the company reported a fourth-quarter loss of $61.5 million.

The loss amounted to 31 cents per share for the quarter ended March 31 compared with a loss of $12 million or eight cents per share a year ago.

Revenue totalled $22.8 million, up from $14.7 million in the same quarter last year.

Canopy Growth, formerly known as Tweed Marijuna, is a medical marijuana firm with headquarters in Smith Falls, in eastern Ontario. The company was founded in 2014 by Bruce Linton and Chuck Rifici.

In other news, the company also announced that president Mark Zekulin will now also take on the added role of co-CEO. He will continue to report to chairman and CEO Bruce Linton, who oversees the company’s global strategy and execution.

@CanBizJournal

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