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The cannabis company SNDL lost C$372.4 million in 2022

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Calgary-based, Alberta-based SNDL reported a net loss of 372.4 million Canadian dollars ($275 million) for 2022, up significantly from C$226.8 million in 2021, due in part to weak assets in the Cannabis Sale division.


SNDL, which operates separate channels for the sale of cannabis and alcohol, in addition to marijuana production, said non-cash inventory and asset damage amounted to C$203 million last year, compared to C$77 million a year earlier.

The company said that while the fundamentals of Nova Cannabis, a marijuana retailer it acquired last year, have improved, the share price has fallen by more than half since the acquisition, causing a non-cash cost of C$88 million.

SNDL’s net revenue for the full year was C$712.2 million, up more than 1,100% from the prior year, thanks in large part to its acquisition of Alcanna.

SNDL has bought Alcanna in Edmonton, Alberta About 320 million Canadian dollars cash and stock as of March 31, 2022.

That deal included 78 cannabis outlets in Alcanna

Read the full article at Marijuana Business Daily

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