OTTAWA – Hexo Corp. reported a loss of $20.7 million in its latest quarter compared with a loss of $19.5 million in the same quarter last year.<\/p>\n<\/p>\n
The cannabis company says the loss amounted to 17 cents per diluted share for the quarter ended April 30 compared with a loss of 26 cents per diluted share a year earlier when it had fewer shares outstanding.<\/p>\n<\/p>\n
Net revenue totalled $22.7 million, up from $22.1 million in the same quarter last year.<\/p>\n<\/p>\n
Hexo has made a series of acquisitions this year in a bid to grow market share.<\/p>\n<\/p>\n
Last month, Hexo announced an agreement to buy cannabis producer Redecan for $925 million in cash and shares as well as another deal to buy 48North Cannabis Corp. for $50 million.<\/p>\n<\/p>\n
In February, it said it would spend $235 million to buy Zenabis Global Inc. and its Namaste, Re-Up, Blazery and Founders Reserve brands. <\/p>\n<\/p>\n
This report by The Canadian Press was first published June 14, 2021.<\/p>\n<\/p>\n
Companies in this story: (TSX:HEXO)<\/p>\n<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
OTTAWA – Hexo Corp. reported a loss of $20.7 million in its latest quarter compared with a loss of $19.5 million in the same quarter last year. The cannabis company says the loss amounted to 17 cents per diluted share for the quarter ended April 30 compared with a loss of 26 cents per diluted […]<\/p>\n","protected":false},"author":522,"featured_media":1579,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"guid":"","source":"The Canadian Press","byline":"","published":"2021-06-13T22:54:58","updated":"","_infotelid":"CP1210798364","_prepressid":"","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[383,2,381],"tags":[],"region":[309,310,311,312],"class_list":["post-1580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-in420","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":[],"jetpack_featured_media_url":"https:\/\/staging.infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/20210614080632-60c74c633caa20a2c64b0426jpeg.jpg","post_modified":"2021-06-14T05:54:58","post_modified_gmt":"2021-06-14T12:54:58","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/1580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/users\/522"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/comments?post=1580"}],"version-history":[{"count":2,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/1580\/revisions"}],"predecessor-version":[{"id":3783,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/1580\/revisions\/3783"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media\/1579"}],"wp:attachment":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media?parent=1580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/categories?post=1580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/tags?post=1580"},{"taxonomy":"region","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/region?post=1580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}