Nanaimo Cannabis Firm’s First-Quarter Loss Widens Amid Layoffs and Restructuring

Article by Tara Deschamps, CTV News

VANCOUVER ISLAND | News Nanaimo cannabis firm's first-quarter loss widens amid layoffs and restructuring Tara Deschamps The Tilray product line includes capsules, oils and dried marijuana ,as pictured at the company's head office in Nanaimo, B.C., on November 29, 2017

Tilray Inc. experienced a rocky first quarter as it grappled with losing 10 per cent of its workforce through layoffs and then the restructuring of its operations.

The Nanaimo, B.C.,-based cannabis firm, which reports its earnings in U.S. dollars, said Monday that its net loss for the period ended March 31 amounted to $184.1 million or $1.73 per share.

That compared with a loss of $29.4 million or $0.31 per share in the same quarter last year, but was a 16-per-cent improvement from the $219.1 million or $2.14 per share loss in the fourth quarter.

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