The Canadian Press

Smiths Falls-based cannabis company previously predicted it would be profitable in the second half of its 2022 financial year, but now says reaching that goal will take longer.

PricewaterhouseCoopers said its recent review of the Ottawa-based cannabis business showed that Hexo did not maintain effective internal control over financial reporting.

Ottawa-based e-commerce firm reported a third-quarter profit of nearly US$1.15 billion, boosted by an unrealized gain on its equity investments.

CEO Tobi Lütke tweeted the announcement this week and says he made the decision "because science."

Ottawa-based e-commerce firm says it earned US$879.1 million, up from US$36 million a year earlier.

Research commissioned by Canopy found the pre-roll joint category grew by 48% across the entire market between January and May 2021.

Although overall bookings remain below pre-pandemic levels, customer interest began to increase in June with the elimination of quarantines for fully vaccinated returning Canadians and the removal of other travel restrictions.

Cohen is a lawyer, lobbyist and fundraiser who currently serves as a senior adviser to the head of U.S. communications giant Comcast.

Cointreau wants any profits Canopy made on products with the allegedly infringing trademarks and for the cannabis company to cover its costs and attorneys fees.

Air travellers will no longer be required to spend the first three nights of their quarantine at a government-approved hotel.