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GreenFirst reports net loss of $2.5M for Q2 2021

GreenFirst Forest Products Inc. today filed its unaudited interim financial statements for the quarter and six months ended June 30, 2021, and the related management discussion and analysis, both of which are available under GreenFirst’s profile on SEDAR at www.sedar.com. All amounts are in Canadian dollars unless indicated otherwise.

The company reported a net loss attributable to common shareholders of $2.5 million, or $0.10 loss per share, and a total comprehensive loss of $2.5 million in the quarter ended June 30, 2021. This is compared to a net loss attributable to common shareholders of $0.1 million, or $0.004 loss per share, and total comprehensive loss of $0.6 million (as a result of a $0.5 million currency translation loss) in the second quarter of 2020. The increased net loss for the quarter was due to higher professional fees.

As at June 30, 2021, the company reported a consolidated cash balance of $5.1 million and net working capital of $0.7 million.