12:59:24 EDT Fri 19 Aug 2022
Enter Symbol
or Name
USA
CA



Canopy Growth Corp
Symbol CGC
Shares Issued 116,217,290
Close 2016-11-14 C$ 11.16
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Globe/CP say Canopy Growth expands as client base grows

2016-11-15 06:44 ET - In the News

The Globe and Mail reports in its Tuesday, Nov. 15, edition that medical marijuana producer Canopy Growth ($11.16) has been expanding its growing facilities to keep up with demand, as the company's client base grew 47 per cent during the quarter. A Canadian Press dispatch to The Globe reports that Canopy says it had more than 24,400 registered patients at the end of September, up from more than 16,600 during the previous quarter and 6,200 a year ago. The company released the new patient figures as it reported a profit of $5.4-million or a nickel a diluted share for the quarter ended Sept. 30. The result compared with a profit of $3.9-million or a nickel a diluted share in the same quarter last year when it had fewer shares outstanding. Revenue in what was its second quarter totalled nearly $8.5-million, up from nearly $2.5-million in the same quarter last year. During a conference call to discuss the results, chief executive officer Bruce Linton emphasized the company's efforts to expand its production capacity to keep up with demand. Canopy expects to more than double the amount of marijuana it is producing at its Smiths Falls facility over the next six months, Mr. Linton said.

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