Canopy Growth Corp. says it will refile three of its past quarterly financial statements after uncovering “material misstatements” linked to its BioSteel business.
The Smiths Falls, Ont. cannabis company says in a regulatory filing that its sports beverage business’s first-, second- and third-quarter sales information from 2022 “should no longer be relied upon.”
The company discovered the misstatements when it was preparing its financial results for the financial year ended March 31.
(Sponsored)
Giving Guide 2025: Options Housing
Founded in 1989, Options Housing is a non-profit organization committed to preventing and ending homelessness in Ottawa. We focus on helping people get out of shelters, off the streets, and
Giving Guide 2025: Cornerstone Housing for Women
As a community ministry of the Anglican Diocese of Ottawa, Cornerstone has been supporting women experiencing homelessness for over 40 years.
Canopy determined on May 4 that there were errors in its filings after a review of BioSteel results with independent external counsel and forensic accountants.
The company says its review is ongoing and thus, it cannot quantify the impact the changes might have on its prior financial statements.
Canopy says it also cannot predict how soon its review will be complete, but it promised to file new statements “as soon as practicable.”
