August 14, 2019 / 9:19 PM / a year ago

Canopy Growth posts bigger quarterly loss on C$1.2 bln charge

Aug 14 (Reuters) - Canopy Growth Corp, Canada’s largest cannabis company, reported a bigger quarterly loss on Wednesday, as it took a one-time charge of C$1.2 billion related to the expiry of warrants held by Constellation Brands, which holds a major stake in the company.

The Smith Falls, Ontario-based company’s net loss widened to C$1.28 billion ($961.32 million), or C$3.70 per share, in the first quarter ended June 30, from C$91 million, or 40 Canadian cents per share, a year earlier.

Net revenue rose to C$90.5 million from C$25.9 million. ($1 = C$1.33) (Reporting by Debroop Roy in Bengaluru; Editing by Maju Samuel)

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