• Daily Marijuana Observer Facebook
  • Daily Marijuana Observer Twitter
  • Daily Marijuana Observer StockTwits
  • Daily Marijuana Observer SA
  • Daily Marijuana Observer Instagram
  • Daily Marijuana Observer Youtube
  • Pinterest Social Icon
  • Daily Marijuana Observer Talk Market

Canopy Growth Corporation (OTCMKTS:TWMJF) Reports Q2 Fiscal 2017 Financial Results

Today, Canopy Growth Corporation (OTC:TWMJF) (TSX:CGC) reported their second quarter fiscal 2017 financial results. Highlights of the results include:

 

"Second Quarter Fiscal 2017 Highlights

  • Revenue of $8.5 million; a 22% increase over first quarter fiscal year 2017 and 245% over the three-month period ended September 30, 2015  

  • Over one metric ton sold in the quarter, specifically 1,169 kilograms and kilogram equivalents, representing an increase of 19% over first quarter fiscal year 2017 and an increase of 267% over the second quarter fiscal year 2016 

  • Harvested 1,711 kilograms during the second quarter ended September 30, 2016 

  • Net income for the quarter ended September 30, 2016 was $5.4 million, including a non-cash unrealized gain on changes in the fair value of biological assets of $16.1 million, compared to net income of $3.9 million in same period last year, including a non-cash unrealized gain on the change in fair value of biological assets totaling $12.5 million 

  • Expenses in the quarter included initial costs to establish Brazil amounting to $0.3 million and related legal expenses of $0.6 million, and $0.3 million related to uplisting to the TSX

  • Over 24,400 registered patients at September 30, 2016

  • Listed common shares on the Toronto Stock Exchange 

  • Exported Tweed-branded medical cannabis for sale to German patients for the first time 

  • Starting with Lemon Skunk available for sale, Tweed launched DNA Certified products, coming with a seal of approval from the world’s most decorated cannabis breeders 

  • Opened a world-class, first-of-its-kind in Canada, cannabis breeding facility 

  • Announced partnership with related-party Delivra Inc. to supply Tweed and Bedrocan Canada with cannabis-infused topical product formulations 

  • Closed bought deal financing that raised gross proceeds of $34.5 million 

  • $45.4 million in cash and cash equivalents at quarter end"

For the full press release and financial results, click here

 

Never miss a marijuana stock update. Subscribe to The Daily Marijuana Observer newsletter.

 

Read more articles tagged:

Please reload

LATEST NEWS
Please reload

Please reload

DMO

© Copyright 2016-2020 Smoke Show Ventures, Inc.

RSS Feed

Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.