LEAMINGTON, ONT. — Cannabis company Aphria Inc. says it lost $361 million for the quarter ended Feb. 28 compared with a profit of $5.7 million in the same quarter a year earlier.
The company says the quarter included an unrealized loss of $264.8 million related to convertible debentures compared with a gain of $23.1 million a year ago.
On an adjusted basis, Aphria says it lost $47.9 million or 15 cents per share for the quarter compared with an adjusted loss of $9.8 million or four cents per share in the same quarter last year.
Net revenue in what was the company’s third quarter totalled $153.6 million, up from $144.4 million.
Aphria shareholders are set to vote Wednesday on a plan to merge with Nanaimo-based rival Tilray Inc.
If the deal is successful the new company will operate under the Tilray name with Aphria chief executive Irwin Simon at the helm.
