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HEXO Corp. confirms no material change
GATINEAU, Quebec, Sept. 07, 2018 (GLOBE NEWSWIRE) -- HEXO Corp. (“HEXO” or the “Company”) (TSX:HEXO), at the request of IIROC, wishes to confirm that it is not aware of any material corporate development, material news or undisclosed material change to the Company or its operations that would account for the recent volatility in the stock market activity.
“There is no formal strategic review process at this time. Our objective continues to be to drive stable, long-term growth to maximize shareholder value. Our Board of Directors and our leadership team are focused on this objective and together, we are growing our company into a thriving business, adapting and innovating in this unprecedented environment in which we operate.,” said Sébastien St-Louis, HEXO’s co-founder and CEO. “It appears that yesterday’s public comments from shareholders have contributed to the changes in the stock price.”
HEXO’s management team is continuously evaluating opportunities to increase shareholder value, through accretive merger and acquisition opportunities, with a view of bringing investors value now and in the future. The Company recently announced a joint venture with Molson Coors Canada for the development and production of non-alcoholic, cannabis-infused beverages for the Canadian adult-use market; a prime example of what HEXO is working towards.
Future plans include making a move into the international market, as well as listing on a major US stock exchange, with announcements coming in the near future.
“We are fully committed to always acting in the best long-term interests of our shareholders. We also welcome the advice of shareholders; the comments we receive can inform our business practices where appropriate and when aligned with our growth strategy,” added Mr. St-Louis.
About HEXO Corp.
HEXO Corp. creates and distributes innovative, easy-to-use and easy-to-understand products to serve the Canadian cannabis market. One of the country’s lowest-cost producers, HEXO is rapidly increasing its production capacity in the lead up to the adult-use cannabis market. The Company currently operates with over 310,000 sq. ft. of production capacity with construction on another 1,000,000 sq. ft. expansion set to be complete by year end. HEXO will serve the adult-use market under the HEXO brand, while continuing to serve its medical cannabis clients through the well-known Hydropothecary brand.