Potstocks continue to burn cash

Author

Jay Lutz
June 23, 2023

Sponsored by Core Assets Corp

Canopy loses billions

Canopy Growth Corp. (TSX: WEED) reported its fiscal Q4 and full-year 2023 financials last night, top billed by a quarterly net revenue of $87.5 million, down from Q4 2022’s $101.8 million as restated. For the full year results, annual net revenue came down to $402.9 million, also a decline from last year’s $510.3 million as restated.

CEO David Klein put a positive spin on the results, saying that 2023 “was a transformational year for Canopy Growth.”

“[In 2023], we began to implement a comprehensive strategy to accelerate our path to profitability, and position our business to realize the tremendous opportunities ahead. Our actions are already yielding results and we expect to realize significant benefits from our cost reduction program in Fiscal 2024,” he said in a statement.

You can read more on the matter here.

Core Assets Corp. is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in British Columbia, Canada. The Company currently holds 100% ownership in the Blue Property, found within the Atlin Mining District. Core Assets believes that the south Atlin Lake area has been neglected since the last major exploration campaigns in the 1980's, and has potential for substantial opportunities.

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How Peloton spun out

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FULL DISCLOSURE: Core Assets Corp is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Core Assets Corp. The author has been compensated to cover Core Assets Corp on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.