HEXO Corp bolsters Ontario foothold with addition of 18 new product listings at the Ontario Cannabis Store
August 14 2019 - 6:30AM
HEXO Corp (“HEXO” or the “Company”) (TSX: HEXO; NYSE: HEXO) is
pleased to announce that its dried flower cannabis products are now
available to Ontario consumers, after finalizing terms with the
Ontario Cannabis Store (OCS).
HEXO now adds nine of its dried flower offerings
in both 3.5g and 15g SKUs to the OCS, including the Company’s
award-winning Helios dried flower, which was named Best Sativa at
the O’Cannabiz 2019 Industry Awards.
“We are thrilled to increase our offering at the
OCS,” said HEXO Corp CEO and co-founder, Sebastien St-Louis. “Apart
from being our nation’s most populous province with the highest
demand for cannabis products, the Ontario marketplace is among the
most competitive—and we are rolling out high quality products to
which we believe Ontario consumers will strongly gravitate.”
According to Statistics Canada, 15.4 per cent of
Ontarians used cannabis in the last quarter of 2018, in line with
the national average. Furthermore, according to a recent study from
Arcview Market Research, the forecast for Ontario’s share of the
national market is expected to rise by 39 per cent by 2024, which
would make Ontario a $1.8-billion marketplace. “We will be
allocating a significant amount of inventory to the Ontario market,
considering retail demand and our goal to become the top choice for
consumers in Ontario—and right across Canada,” added St-Louis.
The new dried flower offerings at the OCS join
HEXO's award-winning Elixir cannabis oil oral spray, which has been
available in Ontario since legalization. Elixir CBD was named
Cannabis Product of the Year and Innovation of the Year at the 2018
Canadian Cannabis Awards. The OCS also carries product from Up
Cannabis, which is part of the HEXO family of brands.
HEXO’s dried flower products at OCS will include
a wide variety of Sativa dominant, Indica dominant and hybrid
strains such as Bayou, Sierra, Terra, Helios, Horizon, Lagoon,
Tsunami, Atlantis and Nebula.
With HEXO and Up Cannabis brands, HEXO products
are available in nine provinces, expanding the Company’s footprint
in Canada and providing more choice for consumers.
About HEXO Corp HEXO Corp is an award-winning
consumer packaged goods cannabis company that creates and
distributes innovative products to serve the global cannabis
market. Through its hub and spoke business strategy, HEXO Corp is
partnering with Fortune 500 companies, bringing its brand value,
cannabinoid isolation technology, licensed infrastructure and
regulatory expertise to established companies, leveraging their
distribution networks and capacity. As one of the largest licensed
cannabis companies in Canada, HEXO Corp operates with 2.4 million
sq. ft of facilities in Ontario and Quebec. The Company is also
expanding internationally and has a foothold in Greece to establish
a Eurozone processing, production and distribution centre. The
Company serves the Canadian adult-use markets under its HEXO
Cannabis and Up Cannabis brands, and the medical market under HEXO
medical cannabis. For more information please visit
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. A more complete discussion of the
risks and uncertainties facing the Company appears in the Company’s
Annual Information Form and other continuous disclosure filings,
which are available on SEDAR at www.sedar.com and
EDGAR at www.sec.gov. 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: Jennifer Smith
1-866-438-8429 invest@HEXO.com
www.hexocorp.com
Media Relations: Caroline Milliard (819)
317-0526 media@hexo.com
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