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OTTAWA, June 28, 2021 (GLOBE NEWSWIRE) — HEXO Corp (“HEXO” or the “Firm”) (TSX: HEXO; NYSE: HEXO) broadcasts closing of the beforehand disclosed transaction to buy its first US manufacturing facility via a completely owned US subsidiary. The ~50,000 sq. ft. facility in Fort Collins, Colorado will present US CPG corporations and customers entry to the Powered by HEXO® know-how and merchandise.
“The Colorado facility will enable us to efficiently execute on our US technique, which incorporates supplying top quality Powered by HEXO® know-how and leveraging our mental property portfolio throughout the USA,” mentioned HEXO Corp CEO and co-founder Sebastien St-Louis. “The ability may also present us with the required infrastructure to proceed increasing our joint-venture with Molson Coors to create Truss CBD-infused beverages, whereas additionally creating the required capability to assist future, non-beverage CPG partnerships.”
The Colorado manufacturing facility, HEXO’s first within the US, is zoned for manufacturing of a full vary of hashish merchandise and provides a wide range of operational capabilities. The location is situated alongside main delivery routes and might be retrofitted to assist Powered by HEXO® initiatives throughout the nation, in compliance with all relevant legal guidelines and rules.
Powered by HEXO® is the trusted answer for main CPG corporations to soundly enter the cannabinoid market, combining HEXO’s experience in hashish with CPG companions’ experience of their industries to co-develop best-in-class cannabinoid-infused merchandise.
About HEXO
HEXO is an award-winning licensed producer of revolutionary merchandise for the worldwide hashish market. HEXO serves the Canadian leisure market with a model portfolio together with HEXO, UP Hashish, Unique Stash, Bake Sale, Namaste, and REUP manufacturers, and the medical market in Canada, Israel and Malta. The Firm additionally serves the Colorado market via its Powered by HEXO® technique and Truss CBD USA, a joint-venture with Molson Coors. Within the occasion that the beforehand introduced transactions to amass 48North and Redecan shut, HEXO expects to be the primary hashish merchandise firm in Canada by leisure market share.
For extra data, please go to www.hexocorp.com.
Ahead Wanting Statements
This press launch accommodates forward-looking data and forward-looking statements throughout the that means of relevant securities legal guidelines (“forward-looking statements”). Ahead-looking statements are primarily based on sure expectations and assumptions and are topic to identified and unknown dangers and uncertainties and different components that might trigger precise occasions, outcomes, efficiency and achievements to vary materially from these anticipated in these forward-looking statements. Ahead-looking statements shouldn’t be learn as ensures of future efficiency or outcomes. Readers are cautioned to not place undue reliance on these forward-looking statements, which communicate solely as of the date of this press launch. The Firm disclaims any intention or obligation, besides to the extent required by regulation, to replace or revise any forward-looking statements on account of new data or future occasions, or for another cause.
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