well, I'll be a monkey's uncle .....an update on the Fort Collins facility!
Many former Hexo investors will recall my posts that I know a guy who works at a cannabis shop just a couple of blocks away from the Tilray/Hexo facility on Red Cedar Circle. (it's his girlfriend who works for the City of Fort Collins permit department)
Anyway - he saw my post and tells me that the facility is actually up for sale - at $6,275,000.
So, given that Hexo's payment due toTilray was $20 million, Tilray will end up with less than $6 million IF they can actually sell the building.
As I mentioned, no-one wanted it when Hexo was trying to sell it at a loss.
Why would Tilray sell this building though - surely their expansion into the U.S. - any day now - might justify hanging on to it. Their alcohol division sales alone were up 117% - where are they going to put all those returned kegs?
Post by
Keeleron Feb 22, 2024 8:46pm 
114 Views
Post# 35894765
Fort Collins facility
as you may recall, Tilray acquired Hexo's vacant quonset in Fort Collins, CO when Hexo didn't have the cash to make the required payments (just prior to the actual close of the acquisition)
It was purchased by Hexo for $5 million USD - and the Hexo CEO at the time (before he was finally, mercifully terminated for ruining Hexo) stated that it would require approx $70 million CDN to renovate - money that Hexo didn't have, thius the quonset has sat vacant since that time.
The quonset IS close to a Tilray brewery (jiust 5 miles away or soemthing) - so maybe Tilray is using ot for storage, but there's ben no word on what they might do with it. Hexo had tried selling it - no-one wanted it.
There WAS an initial building permit (Permit B2105272) issued by the City of Fort Colins for some inetrior demoliation (partition wall removal, electrical and plumbing removal) - but nothing since.
I see Tilray however was issued a violation notice for not getting a permit for some electrical work it did last summer - go figure that Tilray wouldnt knowyou have to get permits to do work on buildings!
I DO SO, enjoy our little Tilray conversations - and the private messages I get from readers on the board asking me to share my insights on Tilray.
Many public Keeler haters, advsie me that it's just so they can hang aroudn with promoters - but that they tell me privately how much they enjoy my posts.