GATINEAU, Quebec, July 03, 2018 (GLOBE NEWSWIRE) -- The Hydropothecary Corporation (“HEXO” or the “Company”) (TSX:HEXO) is
pleased to announce that six of ten zones in its 250,000 sq. ft. greenhouse expansion are now licensed by Health Canada.
HEXO has maintained a remarkable pace, receiving licensing for six of ten zones in the expansion since June 13,
2018.
“We are extremely grateful for Health Canada’s diligence and cooperation, as we work together to navigate the
ever-changing regulatory landscape in the cannabis industry,” said Sebastien St-Louis, HEXO CEO and co-founder.
“We are also proud of the relationship that we have built with Health Canada, and the speed of licensing that we
are experiencing is a mark of our history of exceptional regulatory compliance.”
While the 250,000 sq. ft. expansion continues to receive licensing, HEXO has turned its construction efforts on an additional
one million sq. ft. expansion set to be complete by year-end. Ground preparations for the additional expansion are already well
underway.
About HEXO
HEXO creates and distributes innovative, easy-to-use and easy-to-understand products to serve the Canadian cannabis market. One
of the country’s lowest-cost producers, HEXO is rapidly increasing its production capacity in the lead up to the adult-use cannabis
market. The Company currently operates with 300,000 sq. ft. of production capacity and has another 1,000,000 sq. ft. expansion set
to be complete by year end. HEXO will serve the adult-use market under the HEXO brand, while continuing to serve its medical
cannabis clients through the well-known Hydropothecary brand.
Forward-Looking Information
This press release may contain forward-looking information that is based on certain assumptions and involves known and unknown
risks and uncertainties and other factors that could cause actual events to differ materially from current assumptions and
expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and
unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially
different from those implied by such statements. A more complete discussion of the risks and uncertainties facing the Company
appears in the Company’s Annual Information Form and continuous disclosure filings, which are available on SEDAR’s website at
www.sedar.com. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the
date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or
revise any forward-looking statements as a result of new information or future events, or for any other reason.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Investor Relations:
Jennifer Smith
Manager of Financial Reporting and Investor Relations
1-866-438-THCX (8429)
invest@THCX.com
www.THCX.com
Media Relations:
Alexandre Poirier
alexandre.poirier@thehydropothecary.com
Director
Adam Miron
819-639-5498
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/de3b170e-75b9-4251-81a9-be4c39778510
