Canabis producer reports $20.1M loss

The Green Organic Dutchman Holdings Ltd. shares fell sharply in early trading following a $20.1 million third quarter loss for the cannabis company as the industry struggles to meet expectations.

Its stock fell about eight per cent to 76 cents soon after the open at the Toronto Stock Exchange, on top of a 9.8 per cent decline on Thursday before the results were released.

The Mississauga-based company says its loss increased from $11.3 million in the same quarter last year as costs rose from its expansion towards commercial production.

That worked out to a loss of seven cents per share for the quarter ending Sept. 30, up from four cents last year.