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HEXO Corp. ships historic first adult-use cannabis order
GATINEAU, Quebec, Sept. 25, 2018 (GLOBE NEWSWIRE) -- HEXO Corp. (“HEXO” or the “Company”) (TSX:HEXO) is pleased to announce that it has shipped its first order for the Canadian adult-use cannabis market.
The shipment is yet another example of the Company executing its commitment to shareholders and consumers to supply innovative and easy-to-use products, powered by HEXO, across Canada.
“This is a historic moment for HEXO,” said Sonia Isabel, Vice-President of Sales for HEXO. “We are so proud of all of our teams for the hard work that they have put in leading up to this moment, but it doesn’t stop now. We look forward to continuing to provide high-quality products and client experiences as we continue our expansion throughout Canada and beyond.”
HEXO has a five-year, $1 billion contract as the preferred supplier to the Société québécoise du cannabis (Quebec) in addition to securing the online distribution contract for the province. HEXO has also made agreements to supply adult-use cannabis in Ontario, and British Columbia. Finally, The Company has secured a large stake in Fire & Flower, a leading adult-use retail cannabis store that is poised to capture a significant portion of the Canadian market and expects to serve all market segments in Canada in the near future.
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.
This press release may contain forward-looking information that is based on certain assumptions and involves known and unknown risks and uncertainties and other factors that could cause actual events to differ materially from current assumptions and expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. A more complete discussion of the risks and uncertainties facing the Company appears in the Company’s Annual Information Form and continuous disclosure filings, which are available on SEDAR’s website at www.sedar.com. 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.