OTTAWA, June 28, 2021 (GLOBE NEWSWIRE) – HEXO Corp (“HEXO” or the “Company”) (TSX: HEXO; NYSE: HEXO) announces the closing of the previously announced transaction for the purchase of its first production facility in the United States through a wholly owned United States subsidiary. Located in Fort Collins, Colo., The ~ 50,000 square foot facility will provide US consumer goods companies and consumers with access to technology and products Powered by HEXO®.
“The installation in Colorado will allow us to successfully pursue our US strategy, which includes providing our high quality technology Powered by HEXO® and leverage our intellectual property portfolio across the United States, ”said CEO and Founder of HEXO Corp, Sébastien St-Louis. “The facility will also provide us with the infrastructure to continue expanding our joint venture with Molson Coors for the creation of Truss’ CBD infused beverages, while creating the capacity to support future partnerships with non-consumer goods producers. related to drinks. “.
The Colorado production site, HEXO’s first in the United States, is zoned for the production of a full line of cannabis products and offers a variety of operational capabilities. The facility is located along the main transport routes and will be redeveloped to allow the implementation of the initiatives Powered by HEXO® nationwide, complying with all applicable laws and regulations.
Powered by HEXO® is the trusted solution for large consumer goods producers interested in safely entering the cannabinoid market. It combines the expertise of HEXO in the field of cannabis with that of its partners in consumer goods in their sector of activity, to jointly develop the best products infused with cannabinoids.
About HEXO Corp
HEXO is an award-winning licensed producer of innovative products for the global cannabis market. HEXO serves the Canadian recreational cannabis market with its portfolio of HEXO, UP Cannabis, Original Stash, Bake Sale, Namaste and REUP brands, as well as 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 acquisitions of 48North and Redecan are completed, HEXO expects to lead the cannabis products industry in Canada in terms of recreational cannabis market share. For more information, visit www.hexocorp.com.
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 which are anticipated. These forward-looking statements should not be interpreted 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.