Cannabis company Aphria Inc. says it lost $361 million for the quarter ended Feb. 28 compared with a profit of $5.7 million in the same quarter a year earlier.
The company says the quarter included an unrealized loss of $264.8 million related to convertible debentures compared with a gain of $23.1 million a year ago.
On an adjusted basis, Aphria says it lost $47.9 million or 15 cents per share for the quarter compared with an adjusted loss of $9.8 million or four cents per share in the same quarter last year.
Net revenue in what was the company’s third quarter totalled $153.6 million, up from $144.4 million.
Aphria shareholders are set to vote Wednesday on a plan to merge with Nanaimo-based rival Tilray Inc.
If the deal is successful the new company will operate under the Tilray name with Aphria chief executive Irwin Simon at the helm.
Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.
Published at Mon, 12 Apr 2021 12:05:17 +0000