HEXO’s Belleville facility receives its sales license
June 01 2020 - 6:30AM
HEXO Corp (“HEXO” or the “Company”) (TSX:HEXO; NYSE:HEXO) is
pleased to announce it has received its Health Canada licence
amendment for the sale of dried and fresh cannabis, cannabis
extracts, cannabis topicals and edible cannabis products for its
cannabis manufacturing and processing facility in Belleville,
Ontario. The updated licensing also encompasses the expansion of
the licensed area to include the beverage production area dedicated
to the Truss/HEXO beverage division.
“Receiving the sales license for our Belleville
facility is extremely positive news for HEXO and Truss, our
joint-venture with Molson Coors Canada,” said Sebastien St-Louis,
CEO and co-founder of HEXO. “This license allows us to increase our
processing capability significantly, achieve greater economies of
scale, and continue to roll out more innovative 2.0 products across
all of our brands Powered by HEXOTM, including hash, vapes,
cannabis beverages, and other edible cannabis products.”
The Belleville facility will act as the main
development, processing and distribution facility for HEXO’s
cannabis products. Located along primary shipping routes in
Ontario, the facility further delivers on HEXO’s national expansion
strategy and ensures necessary capacity for the manufacturing and
distribution of advanced cannabis products to fulfil purchase
orders across the country.
“HEXO’s Belleville facility is a purpose-built
manufacturing centre. By using specifically designed automation and
best-in-class cannabis technology to streamline our processes, we
are focusing on long-term cost reductions and improvements to our
portfolio wide gross margin," added St-Louis.
Over the coming months, HEXO looks forward to
showcasing the Belleville facility to its investors, local
stakeholders and the media.
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. The Company serves the Canadian adult-use markets under
its HEXO Cannabis, Up Cannabis and Original Stash 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
Smith1-866-438-8429invest@HEXO.com www.hexocorp.com
Media Relations:(819)
317-0526media@hexo.com
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