Organigram reported a surprising $10.2M Q3 net loss, following Canopy, Cronos, and Supreme in falling short of earnings expectations. However, Organigram’s EBITDA was positive for the fourth consecutive quarter.
CTV News, Bloomberg
- The costs related to a failed Q3 crop experiment to develop a more efficient cloning strategy by harvesting clones from later-stage mothers caused “an anomaly” in crop yields. An Eight Capital analyst said the loss was “an isolated event.”
Globe and Mail, MarketWatch
Quick Hit
- The federal minister of justice and the parliamentary secretary to the minister of border security and organized crime reduction, announced $11.5M funding over five years to support police in Quebec cracking down on drug-impaired driving.
NewsWire - Researchers at Hamilton’s McMaster University found evidence recent cannabis use tends to erode memory and attention, slow the ability to process and form thoughts, and complicate motor skills.
Canoe.com
