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HEXO Reaches Supply Agreement with Ontario Cannabis Store
GATINEAU, Quebec, Aug. 20, 2018 (GLOBE NEWSWIRE) -- The Hydropothecary Corporation (“HEXO” or the “Company”) (TSX:HEXO) is proud to announce that it has entered a supply agreement with the Ontario Cannabis Store (“OCS”).
Under the deal, the Company will supply the province with its award-winning Elixir product line, along with its newly launched Fleur de Lune, an intimate cannabis oil. The Elixir product offering includes several formulations such as THC, CBD, or 1:1 in either a peppermint oil or a medium-chain triglyceride (MCT) carrier oil. Elixir and Fleur de Lune are smoke-free, easy-to-use and will be sold in childproof packaging.
“We are pleased to initially offer our award-winning smoke-free cannabis products online to the Ontario adult-use market on October 17th,” said James McMillan, HEXO’s Vice-President of Strategic Business Development. “We look forward to continue working with the Ontario government as they move towards privatization and to offer our full range of products both online and in-stores in spring 2019.”
HEXO was previously named the preferred supplier to the Société québécoise du cannabis (SQDC) in Quebec and has entered a supply agreement with the Liquor Distribution Branch (LDB) in British Columbia. The Company also recently made a strategic $10 million investment into the independent corporate cannabis retailer, Fire & Flower. Fire & Flower plans to operate retail stores in any provinces that allow private retail.
HEXO 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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e423d77f-75c9-43a2-bc1b-1ee7f535eeac