RE:HEXO BELLEVILLE FACILITY - FACTSQuietinvestor wrote: There have been many posts here about HEXO's facility in Belleville. Was surprised to learn after reading detailed quarterely report Jun 2020 that it leases much of it and subleases to TRUSS. The article below clearly shows that HEXO owns only a share of the building, unlike what many have said here.
"The building is owned by Belleville Complex Inc., a joint venture in which HEXO will hold a 25% interest and Olegna Holdings Inc. will hold a 75% interest. In addition to its initial lease of 500,000 sq. ft. of the space under a long-term lease, HEXO will have rights of first offer and first refusal to lease the remaining space in the building. As part of the transaction, HEXO has loaned $20,000,000 to Belleville Complex to acquire the building. The loan will be repaid within 120 days from September 7, 2018, and as of October 7, 2018, will bear interest at an annual rate of 4%, which interest shall be payable monthly. The loan is secured by a first mortgage over the building. The transaction is subject to the satisfaction of certain conditions and is scheduled to close on October 12, 2018."
GLTA
Hey Basher that's old news.....do your DD is all I can say;)