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HEXO provides update on strategic plan

Stockhouse Editorial
1 Comment| April 26, 2022

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Click to enlargeHEXO Corp. (TSX.HEXO) – a leading producer of high-quality cannabis products – has provided an update on its previously announced strategic plan, designed to solidify HEXO’s position as the number one cannabis company in Canada by recreational market share, with the goal of becoming cash flow positive from operations.

The Company is announcing that it will close its Belleville facility and transition its operations to other sites to further streamline operations and capitalize on production efficiencies.

HEXO’s Acting Chief Operating Officer, Charlie Bowman, commented:

“After an extensive review of site capabilities, we have identified this operational closure and transition as an opportunity to further optimize our network. Our decision is designed to leverage other sites with available infrastructure and capabilities to improve production outputs while significantly reducing costs across our entire network. This is a critical next step for HEXO as we continue to make strides towards becoming cash flow positive from operations.

Full news release here.


About HEXO

HEXO is an award-winning licensed producer of innovative products for the global cannabis market. HEXO serves the Canadian recreational market with a brand portfolio including HEXO, Redecan, UP Cannabis, Namaste Original Stash, 48North, Trail Mix, Bake Sale, REUP and Latitude brands, and the medical market in Canada, Israel and Malta. The Company also serves the Colorado market through its Powered by HEXO® strategy and Truss CBD USA, a joint venture with Molson-Coors. With the completion of HEXO's recent acquisitions of Redecan and 48North, HEXO is a leading cannabis products company in Canada by recreational market share.


New to investing in Cannabis? Check out Stockhouse tips on How to Invest in Cannabis Stocks and some of our Top Cannabis Stocks.

For more of the latest info on Cannabis, check out the Cannabis Trending News hub. Or, for lively sector discussion, visit Stockhouse’s new Cannabis Bullboards page.



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