LEAMINGTON, Ont. — Hashish firm Aphria Inc. reported a lack of $108.2 million in its newest quarter because it took a one-time non-cash cost associated to its operations in Latin America that had been the main target of a short-sellers.
Aphria says the Ontario Securities Fee requested it carry out an impairment take a look at on its LATAM belongings and the corporate decided it ought to take a $50 million non-cash impairment cost.
The corporate mentioned its loss for the quarter amounted to 43 cents per share in contrast with a revenue of $12.9 million or eight cents per share in the identical quarter a yr earlier.
Internet income for the quarter ended Feb. 28 totalled $73.6 million, up from $10.three million a yr earlier.
Aphria additionally introduced that it has struck a deal that may see Inexperienced Progress Manufacturers Inc. drop its hostile takeover supply.
Inexperienced Progress says its supply will now expire on April 25 as an alternative of Might 9. The corporate has additionally agreed to pay $89 million for 27.three million of its shares held by GA Alternatives Corp.