Skip to main content

The Green Organic Dutchman Holdings Ltd. shares fell sharply in early trading following a $20.1-million third quarter loss for the cannabis company as the industry struggles to meet expectations.

Its stock fell about eight per cent to 76 cents soon after the open at the Toronto Stock Exchange, on top of a 9.8 per cent decline on Thursday before the results were released.

The Mississauga-based company says its loss increased from $11.3-million in the same quarter last year as costs rose from its expansion towards commercial production.

Story continues below advertisement

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

The company says it invested $104-million in capital spending in the quarter, including the continued construction of two facilities in Ontario and Quebec.

It announced in October that it was significantly scaling back the timeline of its project in Valleyfield, Que., to reduce its cash needs.

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

Report an error
Tickers mentioned in this story
Unchecking box will stop auto data updates
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

Cannabis pro newsletter
To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies