Canopy growth reporting record revenues
A Smith Falls pot producer, with a facility in Niagara, is reporting revenue grew by 77 percent in its latest quarter compared to a year ago.
While Canopy Growth Corp. is reporting a net loss of $96 million it says its net revenue for the second quarter went up from $76 million last year to $135 million.
The company operates Tweed Farms in Niagara on the Lake.
The company says growth was driven by an increase in Canadian recreational cannabis revenue.
On its website, officials also say the September launch of its Martha Stewart branded CBD gummies, oil and soft gels in the U.S, is already driving strong consumer demand.
The company adding " Martha Stewart CBD products are now expanding into brick-and-mortar stores, with a significant number of stores are expected to be added in the coming months."