Cover Expansion (WEED) has reported a web loss for its fiscal 2d quarter of $324.8 million.
The most recent loss is greater than the lack of $305.8 million that the Smiths Falls, Ontario-based corporate posted a yr previous.
The hashish manufacturer stated its web loss from proceeding operations used to be $148.2 million. Cover Expansion’s income within the quarter totaled $82 million, down 18% from $100 million a yr previous.
Corporate executives stated they proceed to concentrate on decreasing prices. In contemporary months, Cover enlargement bought creditor coverage for its BioSteel Sports activities Diet unit with plans to ultimately promote that trade.
Cover Expansion has additionally introduced its goal to promote its earlier headquarters development in Smiths Falls again to chocolate maker Hershey (HSY) for $53 million.
The inventory of Cover Expansion has declined 77% this yr and now trades for $0.72 in keeping with proportion.