Nanaimo, B.C.-based cannabis firm Tilray more than doubled its revenue in 2018 as pot became legal in Canada, but had a net loss of $67.7 million as it expanded rapidly. Revenue continued increasing in the fourth quarter to $20.9 million, three times its revenue in the comparable period in 2017. Net loss for the quarter was $0.33 per share compared to $0.04 per share for the previous year. It also invested $7.5 million in Quebec-based cannabis producer ROSE Lifescience Inc.Tilray has been cleared to import cannabis into the U.S. for medical purposes and its purchase of Alef allows it to import, produce and distribute Tilray branded medical cannabis throughout Latin America. It also announced an alliance with Sandoz, part of Novartis Division, to supply medical cannabis products to patients around the world.

Source: CBC News March 18, 2019 21:56 UTC