HEXO Corp. Acting Chief Financial Officer Trent MacDonald Moves Into Permanent Role
November 09 2020 - 9:20AM
HEXO Corp. (“HEXO”, or the “Company”) (TSX: HEXO; NYSE: HEXO) is
pleased to announce that Trent MacDonald’s security clearance
request under the Cannabis Act has been granted by Health Canada.
As previously announced, Mr. MacDonald had been appointed to the
Company’s executive leadership team in the acting role of Chief
Financial Officer, with his permanent role as Chief Financial
Officer to commence upon the successful completion of Health
Canada’s security clearance process for key personnel. With his
security clearance having been granted, Mr. MacDonald now moves
into a permanent role as Chief Financial Officer.
“HEXO is now in a very strong financial
position, having already taken the impairments and write-downs that
continue to plague the cannabis industry, while also having plenty
of working capital and cash,” said Trent MacDonald. “I am excited
to join the Company as we move towards positive EBITDA, positive
operational cash flow and clear a path for sustained profitability
on a per share basis. I am thrilled to be contributing to HEXO’s
strategic and operational initiatives as the Company is
relentlessly pursuing a top market position in Canada, while I
believe we are extremely well positioned to take advantage of an
ever-evolving U.S. market, especially through Truss Beverages, our
joint venture with Molson Coors.”
Sébastien St-Louis, Chief Executive Officer and
co-founder of HEXO, expressed his appreciation for Health Canada’s
celerity in processing Mr. MacDonald’s security clearance
application “Along with the Company’s executive leadership team, I
would like to commend Health Canada for their diligence and
expediency in processing Trent’s application.”
About HEXO
HEXO Corp is an award-winning consumer packaged
goods cannabis company that creates and distributes innovative
products to serve the global cannabis market. 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. 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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