RE:Hexo in discussion with close to 60 Fortune 500 companies!!!docbrown wrote: "Mr. St-Louis claims that his company is in discussion with about sixty Fortune 500 companies currently. Hexo Corp is already affiliated with Molson Coors. The producer and brewer formed Truss, a joint venture that will eventually launch cannabis-infused beverages into the Canadian legal market." What also was interesting of note was the following: "Taking advantage of the adoption since last December of the American Agricultural Law, the preferred supplier of the Quebec Cannabis Society intends to settle in eight US states next year, by partnering with organizations listed on the Fortune 500 list , this ranking grouping the 500 largest companies in the world." https://www.ledroit.com/affaires/hexo-corp-sattaque-au-marche-americain-59c4cf13026ba6866d78794b9b098825 Good times to be in Hexo. Daily fluctuations suck, but imagine a year from now! Doc Brown
Translated by Bing; HEXO Corp tackles US market
BENOIT SABOURIN
Le Droit
The Quebec cannabis producer HEXO Corp is entering American soil.
The Gatineau-based company, in the Masson-Angers sector, announced on Tuesday the creation of HEXO USA, its new subsidiary that will allow it to expand its tentacles to the United States from 2020.
Taking advantage of the adoption since last December of the American agricultural law, the privileged supplier of the Quebec cannabis society intends to settle in eight American States as soon as next year, by partnering with organizations listed in Fortune 500, the ranking of the 500 largest companies in the world.
Since the entry into force of the farm bill, hemp and its derivatives are now legal in the United States. Products that bear the seal of HEXO in the United States will be free of THC.
"There are about 180 products active in cannabis. Our team of scientists... is developing formulations for its assets in order to create solutions for athletic performance, concentration and sleep for example. These solutions will be based on hemp. We will buy American hemp, transform it using our technology developed in Canada and then we will integrate it into our HEXO formulas and our products created with Molson Coors and our other partners that we will add, "said law on CEO and co-founder of HEXO Corp., Sbastien St-Louis.
Mr. St-Louis argues that his company is in discussion with some sixty Fortune 500 companies currently. HEXO Corp is already affiliated with Molson Coors. The producer and Brewer formed truss, a joint venture that would eventually launch cannabis-infused beverages on the Canadian legal market.
HEXO Corp currently owns 1.8 million square feet of facilities in Quebec and Ontario. The Gatineau company also has a foothold overseas while a project of the Centre for processing, production and distribution of cannabis destined for the euro area is on the table in Greece.
Sbastien St-Louis asserts that the breakthrough in the United States represented the next logical step for the good development of the company.
"We aim to be one of the three largest cannabis companies in the world and to do so, we must, in the next 5-10 years, have a minimum of 10% global market share. To achieve this, we need a significant market share in the United States and that is why this entry into the US market and the creation of HEXO USA are significant, "he said.
The company also announced yesterday the appointment of Michael Monahan who will now act as Chief Financial Officer of HEXO Corp. Over the years, the latter has held the same functions in the United States, including the American companies NutriSystem and PetroChoice holdings. "We needed someone from global and the best financial operators are the people of New York. That's why we've focused our research on finding someone on a world level. Michael will manage the finances for the entire HEXO, Mr. St-Louis said.
https://www.ledroit.com/affaires/hexo-corp-sattaque-au-marche-americain-59c4cf13026ba6866d78794b9b098825