Hexo Corp. shares /zigman2/quotes/206508254/composite HEXO -3.19% /zigman2/quotes/200008967/delayed CA:HEXO -2.86% slid 4.8% in premarket trade Monday, after the Canadian cannabis company posted a wider-than-expected loss for its fiscal third quarter and revenue that fell short of estimates. Ottawa-based Hexo said its loss widened to C$20.7 million ($17 million), or 17 cents a share, in the quarter to April 30, from C$19.5 million, or 38 cents a share, a year ago. Revenue climbed to C22.7 million from C$22.1 million. The FactSet consensus was for a loss of 6 cents a share and revenue of C$34.5 million. "While this was a challenging quarter, we maintained our number one position in the beverage category and increased our net sales outside of Quebec by 169% over last year, including 14% sequential quarterly growth in Ontario, while continuing to maintain our number one position as the preferred supplier to Quebec," Chief Executive Sebastien St-Louis said in a statement. "Moving forward, we are committed to rebuilding our strain strategy and brand mix in the province of Quebec to ensure we meet consumer needs and maintain our dominant position in the province." Hexo announced itsthird and biggest deal of the year so far in late May with news that it is acquiring privately held Redecan for C$925 million in cash and stock. That comes after the February news of the purchase of Zenabis Global Inc. for C$235 million in stock, and earlier in May, it announced the acquisition of 48North Cannabis Corp. for C$50 million in stock. Hexo shares have gained 80% in the year to date, while the Cannabis ETF /zigman2/quotes/213173823/composite THCX -1.50% has gained 44% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.20% has gained 13%.