Green Organic Dutchman shares fall right after it reports $20.1M loss – Cannabis News | Life-style Ideas | Professional Opinions

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MISSISSAUGA, Ont. — The Green Organic Dutchman Holdings Ltd. shares fell sharply in early trading following a $20.1 million third quarter loss for the cannabis firm as the market struggles to meet expectations.

Green Organic stock fell about eight per cent to 76 cents quickly right after the open at the Toronto Stock Exchange, on best of a 9.eight per cent decline on Thursday ahead of the final results have been released.

The Mississauga-primarily based firm says its loss enhanced from $11.three million in the exact same quarter final year as charges rose from its expansion towards industrial production.

The final results worked out to a loss of seven cents per share for the quarter ending Sept. 30, up from a loss of 4 cents in the exact same quarter final year.

The firm says it invested $104 million in capital spending in the quarter, such as the continued building of two facilities in Ontario and Quebec.

It announced in October that it was substantially scaling back the timeline of its project in Valleyfield, Que., to minimize its money requires.

Along with announcing its third quarter final results, the firm announced arrangements for up to $103 million in funding that contains the sale and leaseback of its facility in Ancaster, Ont.

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