Aurora Cannabis says it could take a revenue hit of up to $3 million because of a cyberattack that downed Ontario's pot distributor and a strike that halted deliveries to B.C. marijuana stores.
Aurora Cannabis Inc. says it could take a revenue hit of up to $3 million because of a cyberattack that downed Ontario's pot distributor and a strike that halted deliveries to B.C. marijuana stores.
Ramifications of the attack lasted for about two weeks, said Aurora chief executive Miguel Martin, on the same call as Ibbott.But he labelled the B.C. interruption"significant." The province was in the process of launching a program where pot stores could directly source stock from licensed producers, but the program had not begun, so like in Ontario, there were no other options to get supplies. Many stores had to close and layoff staff as supply dwindled and the strike continued.
"We believe the cannabis growth story will centre on international medical and recreational over the next several years," he said. The fourth quarter net loss was even deeper than the $134 million net loss it saw in the same period last year. The company attributed the impairment charges to"changes in cannabis market conditions, and in the current capital market environment including higher rates of borrowing and lower foreign exchange rates."
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