By Robb M. Stewart
Hearth & Flower’s shares fell sharply Monday after the hashish retailer mentioned it had employed a monetary advisor to help it with reviewing strategic choices, together with alternate options for financing.
In morning buying and selling, the shares have been 42% decrease at C$0.49, widening the year-to-date decline to 58%.
The Canadian firm, which is part-owned by convenience-store operator Alimentation Couche-Tard, did not disclose the identify of the advisor or a timeframe for the overview in a short assertion late Friday. Earlier within the month, Hearth & Flower mentioned it will want extra financing and was actively taking a look at methods to lift capital to fund its operations, meet development targets and proceed as a going concern.
The corporate recorded a widened loss within the first three months of the 12 months after reserving an impairment cost, although larger retail gross sales helped carry general income 5.3% from a 12 months earlier.
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