HEXO Corp formalizes its US presence with acquisition of production facility in Colorado
June 28 2021 - 5:30AM
HEXO Corp (“HEXO” or the “Company”) (TSX: HEXO; NYSE: HEXO)
announces closing of the previously disclosed transaction to
purchase its first US production facility through a wholly owned US
subsidiary. The ~50,000 sq. ft. facility in Fort Collins, Colorado
will provide US CPG companies and consumers access to the Powered
by HEXO® technology and products.
“The Colorado facility will allow us to
successfully execute on our US strategy, which includes supplying
high quality Powered by HEXO® technology and leveraging our
intellectual property portfolio across the United States,” said
HEXO Corp CEO and co-founder Sebastien St-Louis. “The facility will
also provide us with the necessary infrastructure to continue
expanding our joint-venture with Molson Coors to create Truss
CBD-infused beverages, while also creating the necessary capacity
to support future, non-beverage CPG partnerships.”
The Colorado production facility, HEXO’s first in
the US, is zoned for production of a full range of cannabis
products and offers a variety of operational capabilities. The site
is located along primary shipping routes and will be retrofitted to
support Powered by HEXO® initiatives across the country, in
compliance with all applicable laws and regulations.
Powered by HEXO® is the trusted solution for
leading CPG companies to safely enter the cannabinoid market,
combining HEXO's expertise in cannabis with CPG partners’ expertise
in their industries to co-develop best-in-class cannabinoid-infused
products.
About HEXO
HEXO is an award-winning licensed producer of
innovative products for the global cannabis market. HEXO serves the
Canadian recreational market with a brand portfolio including HEXO,
UP Cannabis, Original Stash, Bake Sale, Namaste, and REUP brands,
and the medical market in Canada, Israel and Malta. The Company
also serves the Colorado market through its Powered by HEXO®
strategy and Truss CBD USA, a joint-venture with Molson Coors. In
the event that the previously announced transactions to acquire
48North and Redecan close, HEXO expects to be the number one
cannabis products company in Canada by recreational market
share.
For more information, please visit
www.hexocorp.com.
Forward Looking Statements
This press release contains forward-looking
information and forward-looking statements within the meaning of
applicable securities laws (“forward-looking statements”).
Forward-looking statements are based on certain expectations and
assumptions and are subject to known and unknown risks and
uncertainties and other factors that could cause actual events,
results, performance and achievements to differ materially from
those anticipated in these forward-looking statements.
Forward-looking statements should not be read as guarantees of
future performance or results. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The Company disclaims
any intention or obligation, except to the extent required by law,
to update or revise any forward-looking statements as a result of
new information or future events, or for any other reason.
Investor Relations:
invest@HEXO.com
www.hexocorp.com
Media Relations:
(819) 317-0526
media@hexo.com
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