Canopy Rivers Inc. today released its unaudited condensed interim consolidated financial statements in Canadian dollars and acknowledged taking a $112 million hit for its PharmHouse investment. The total comprehensive loss for the quarter was $87.0 million. On a positive note, its investment into TerrAscend has appreciated implying an investment value of $214 million. The company reported that its royalty, interest, and lease income was $4.1 million for the quarter. TerrAscend’s share value increase from $2.87 on June 30, 2020, to $9.75 as of the close of markets on November 6, 2020. Offsetting this income was a provision for credit losses of $9.9 million for the quarter, which was primarily related to interest accrued on the company’s $40.0 million shareholder loan to PharmHouse Inc. of $8.9 million.

Andrew Balletto, Green Market Report, 11/09/2020 09:41:09

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