August 8, 2019 / 11:27 AM / 3 months ago

Pot company Cronos posts wider loss as expenses soar

Aug 8 (Reuters) - Canadian marijuana company Cronos Group reported a wider quarterly core loss on Thursday, as it struggled with rising costs.

Adjusted core loss widened to C$17.8 million ($13.37 million) for the second quarter ended June 30 from C$2.4 million a year earlier.

Revenue rose three fold to C$10.24 million, benefiting from the legalization of cannabis for recreational use in Canada late last year. ($1 = 1.3309 Canadian dollars) (Reporting by Taru Jain in Bangalore; Editing by Anil D’Silva)

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