Article by Marijuana Business Daily
British Columbia-based cannabis producer Zenabis Global reported a net loss of 70.5 million Canadian dollars ($56.3 million) for 2020, an improvement over the previous year’s CA$127 million loss.
Net loss from continuing operations was CA$54.9 million, while the company’s loss from discontinued operations was CA$15.6 million, according to the company’s year-end financial statements.
Interest expenses amounted to CA$23.8 million for the year.
By geographic area, Zenabis earned revenue of:
- CA$55.6 million from Canada.
- CA$3.7 million from international exports.
In 2019, Zenabis’ Canadian revenue was CA$29 million, and no money was made from exports.
The company reported receiving almost CA$5 million in government subsidies last year.
Zenabis also said shareholders will vote in May on a proposed acquisition by rival producer Hexo Corp.