Hexo News Release - Facts!
Hexo News Release - Corporate Highlights Formation of the joint venture Truss with Molson Coors Canada to pursue opportunities to develop non-alcoholic, cannabis-infused beverages for the Canadian market Supply agreements with the Ontario Cannabis Store and the British Columbia Liquor Distribution Board to supply the award-winning sublingual mist Elixir products, as well as Fleur de Lune, an intimate cannabis oil, in Ontario First global foray with partnership with Greek company Qannabos and plans to establish a Eurozone processing, production and distribution centre in Greece, including the development of 350,000 sq. ft. of licensed infrastructure First harvests from new 250,000 sq. ft. greenhouse, increasing annual production capacity to 25,000 kg of dried flower Foundation and framing for the 1,000,000 sq. ft. greenhouse completed (completion remains on track for December 2018) Acquisition of an interest in a 2,004,000 sq. ft. facility in Belleville, Ontario, providing capacity for the manufacturing of advanced cannabis products Contract with Metro Supply Chain Group contract to manage a warehouse and distribution centre for Quebec adult-use webstore orders for the Socit qubcoise du cannabis (SQDC) in modern 58,000 sq. ft. facility located in Montreal Strategic investment of $10 million in the independent corporate cannabis retailer Fire and Flower Inc., through a convertible note receivable Financial Highlights Revenue per gram increased to $9.26 per gram equivalent from $9.24 in the prior quarter, and $9.00 in the fourth quarter of fiscal 2017 Revenue increased 14% to $1,410,656 quarter over quarter and the volume of cannabis dried grams and gram equivalents sold increased 13% to 152,288 from the third quarter of fiscal 2018 Ontario-based sales increased 15% during the quarter ended July 31, 2018 Weighted average cash cost of dried inventory sold per gram of $0.90 held relatively steady from $0.88 per gram in the third quarter of fiscal 2018 and decreased 14% year-over-year compared to the fourth quarter of fiscal 2017 Cash and short-term investments were $244.8 million as at July 31, 2018, and the balance sheet remained debt-free