Quinsam Capital (CSE:QCA) announced a net loss of C$5.2 million in its results for the third quarter of its fiscal 2019 year.
As quoted in the press release:
“At September 30, 2019, we had net assets of approximately $0.34 per share equivalent outstanding,” said Roger Dent, CEO of Quinsam. “Even though our NAV reflects the Q3 market carnage in the cannabis space, our trading price remains at an extremely large discount to our underlying asset value.”
Quinsam notes that the cannabis sector generally had very negative performance in Q3/2019. For example, the Horizon Marijuana Life Sciences Index ETF NAV fell from $18.25 at the end of June 2019 to $11.82 at the end of September 2019, for a decline in the quarter of 35.2%.