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Consolidated Statements of Cash Flows - CAD ($)
$ in Thousands
12 Months Ended
May 31, 2019
May 31, 2018
Cash generated used in operating activities:    
Net income (loss) for the year $ (16,499) $ 29,448
Adjustments for:    
Future income taxes (4,090) 3,658
Fair value adjustment on sale of inventory 27,724 10,327
Fair value adjustment on growth of biological assets (40,607) (23,302)
Loss on marketable securities 178 2,155
Unrealized foreign exchange gain (256) (94)
Amortization 22,940 6,678
(Gain) loss on sale of capital assets (55) 191
Impairment 58,039  
Unrealized loss (gain) on convertible notes receivable 3,399 (5,943)
Gain on equity investees (58,438) (24,587)
Deferred gain recognized (618) (1,304)
Consulting revenue   (1,244)
Other non-cash items (566) (63)
Share-based compensation 26,080 17,874
Gain on long-term investments (19,651) (26,675)
Unrealized gain on convertible debentures (48,439)  
Unrealized loss on financial liabilities 1,326 12,451
Transaction costs 15,419 5,192
Change in non-cash working capital (21,491) (10,411)
Cash flows from (used in) operating activities (55,605) (5,649)
Cash provided by financing activities:    
Share capital issued, net of cash issuance costs 245,925 195,661
Share capital issued on warrants, options and DSUs exercised 7,772 8,011
Proceeds from convertible debentures 454,386  
Proceeds from non-controlling interest   9,800
Advances from related parties   11,386
Repayment of amounts due to related parties   (10,890)
Proceeds from long-term debt 27,841  
Repayment of long-term debt (11,374) (7,622)
Cash flows from (used in) financing activities 724,550 206,346
Cash used in investing activities:    
Investment in marketable securities   (7,365)
Proceeds from disposal of marketable securities 24,685 47,495
Investment in capital and intangible assets, net of shares issued (205,965) (216,699)
Proceeds from disposal of capital assets 55 431
Convertible notes advances (19,500) (14,001)
Repayment of convertible and promissory notes receivable 8,551 640
Investment in long-term investments and equity investees (72,367) (51,692)
Proceeds from disposal of long-term investments and equity investees 110,213 43,077
Net cash paid on business acquisitions (23,557) (22,756)
Cash flows from (used in) investing activities (177,885) (220,870)
Net increase (decrease) in cash and cash equivalents 491,060 (20,173)
Cash and cash equivalents, beginning of year 59,737 79,910
Cash and cash equivalents, end of year $ 550,797 $ 59,737