HEXO MED, an affiliate of HEXO Corp, secures medical cannabis license in Europe
June 13 2019 - 6:30AM
HEXO Corp (“HEXO” or the “Company”) (TSX:
HEXO;
NYSE-A:
HEXO) is pleased to announce that its
affiliate, HEXO MED S.A. (“HEXO MED”) has received a medical
cannabis installation license. The license, issued by the Greek
government, will allow HEXO MED to establish cultivation,
processing and manufacturing facilities in the region of Thessaly,
Greece. With HEXO Corp’s experience in the industry, HEXO MED is
poised to become a leader in the European cannabis landscape.
“This is a major step for HEXO as we continue to
execute towards becoming a top three global cannabis company,” said
Sebastien St-Louis, HEXO Corp CEO and co-founder. “Receiving
licensing in Greece will allow us to bring know-how and brands
powered by HEXO to the European market. The new facility will also
drive value for current and future Fortune 500 partners by giving
them access to licensed infrastructure internationally with the
vision of capturing first-mover advantage in the burgeoning
European cannabis market.”
HEXO MED’s large-scale high-tech greenhouse and
world-class EU GMP facilities will be based on a 67,000 square
meter (or 721,182 sq. ft.) plot in Larissa, Greece. The new
facilities are expected to initially create 150 jobs in the local
community which will continue to scale up as HEXO MED further
expands. Construction of the approximately 30,000 square meter (or
323,000 sq. ft.) facility is expected to begin in Q4 2019.
About HEXO MEDHEXO MED, an
affiliate of HEXO Corp, is a vertically integrated pharmaceutical
company specialised in medical cannabis. HEXO MED aims to become
the highest quality producer and distributor of medical cannabis
products throughout Europe. HEXO MED is committed to drive research
and development of the cannabis plant in Europe to bring new and
innovative medical products to clients.
About HEXO CorpHEXO 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. 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
Smith1-866-438-8429invest@HEXO.com www.hexocorp.com
Media Relations:Caroline Milliard(819)
317-0526media@hexo.com
DirectorAdam Miron819-639-5498
HEXO (NASDAQ:HEXO)
Historical Stock Chart
From Aug 2024 to Sep 2024
HEXO (NASDAQ:HEXO)
Historical Stock Chart
From Sep 2023 to Sep 2024