By Shariq Khan and Nichola Saminather
By Shariq Khan and Nichola Saminather
Feb 14 (Reuters) – Canada’s largest hashish producer, Cover Progress Corp WEED.TO, is conducting a “thorough strategic assessment” of its manufacturing amenities to concentrate on its most profitable markets and product strains, firm executives mentioned on Friday.
The corporate, which reported a smaller-than-expected third-quarter loss on Friday, additionally goals to carry its gross margin to 40% within the brief time period, from 34% within the third quarter, mentioned David Klein, who took over as Cover’s chief government final month.
Klein, on a convention name with reporters, mentioned he desires to “outline a really seen path to profitability and constructive money circulate.”
“This implies deciding the place we cannot play in addition to the place we’ll,” he mentioned, including that Cover should additionally “transfer quicker and make bolder strikes” in america.
Cover shares had been 15% at C$29.76 at noon, paring its one-year loss to 53%.
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