Returned Product a Hidden Challenge for Cannabis Companies

Soon after cannabis products started flying off shelves following legalization, Canopy Growth Corp. had a $26.9 million problem.

The Smiths Falls, Ont.-based company told investors and analysts during a November conference call to discuss its financial results that it was grappling with $20.5 million worth of product being returned from provincial retailers and bracing itself for another $6.4 million worth that was on the way.

In the previous quarter it had taken an $8-million writedown for unsold oil and gel caps.

– Read the entire article at CTV News.

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