Canopy Growth Corp. reported a $1.3-million loss in its latest quarter despite doubling its revenue compared with a year ago, sending its shares lower on Tuesday. Canopy Growth CEO Bruce Linton pointed to 27 provisional patents filed through its subsidiary Canopy Health Innovations and several international deals, such as strategic partnerships in Denmark and Jamaica. Canopy shares closed down two per cent on Tuesday to close at $19.96 on the TSX, as its latest results fell short of analyst expectations. While the average selling price was in line with what Beacon Securities expected, the analysts had forecasted 2,237 kilograms and kilogram equivalents for the latest quarter. Last month, Constellation Brands signed a deal to acquire a nearly 10 per cent stake in Canopy for $245 million.

Source: CBC News November 14, 2017 17:48 UTC