RE:RE:RE:RE:New Press Release - Canopy Growth Announces that BioSteel Obtains Court Approval of Successful Bids in Sale and Investment Solicitation ProcessYes, very well done - not :-( BioSteel remains “significantly” cash-flow negative and had required continued support from Canopy in the estimated amount of CA$15 million per month, per the court documents.
In the fiscal year 2023, covering April 2022 through March 2023, the entire BioSteel segment generated CA$69.6 million in sales, more than double the previous year’s total of CA$34.6 million.
However, the cost of goods sold outran the brisk sales growth, coming in at CA$110.3 million in the same period, for a deficit of CA$40.6 million.