“Receiving initial licensing on our 1,000,000 sq. ft. facility is a huge accomplishment for the entire HEXO team. We are proud that the construction project is hitting all its milestones while respecting aggressive timelines and staying on budget. The new production facility allows us to continue to scale-up which, once fully operational, will give customers across Canada access to HEXO products,” said Sébastien St. Louis, HEXO Corp’s CEO and cofounder. “Our team has been hard at work for the past couple of months nurturing new mother plants and preparing cuttings. We will start moving plants into the new facility with the pre-prepared mother plants and cuttings in alignment with our continuous harvest methodology.”
The expansion milestone is an important step as the Company continues ramping up to an annual production capacity of 108,000 kg of dried cannabis. The expansion was first announced in December 2017 and the project reached its goal in less than a year, further cementing the Company’s reputation for repeatedly executing on commitments.
The expansion allows HEXO Corp to further establish its position as one of the largest cannabis producers in Canada. The Company has the single largest legal cannabis supply contract in Canadian history as the preferred supplier to the Société québécoise du cannabis, along with supply agreements in British Columbia, Ontario, a strategic investment in the private cannabis retailer Fire & Flower and Truss, a partnership with Molson Coors Canada to create cannabis-infused beverages once regulations permit.
HEXO is tremendously undervalued in a fundemental perspective. Solid company with an award winning product and a massive 108,000 annual production of 108,000kg. Compared to Cronos's production of 25,000kg and trading at triple the valuation. As soon as a larger pool of investors catches HEXO under their radar I see the price creep towards $7-$8.
The expansion milestone is an important step as the Company continues ramping up to an annual production capacity of 108,000 kg of dried cannabis. The expansion was first announced in December 2017 and the project reached its goal in less than a year, further cementing the Company’s reputation for repeatedly executing on commitments.
The expansion allows HEXO Corp to further establish its position as one of the largest cannabis producers in Canada. The Company has the single largest legal cannabis supply contract in Canadian history as the preferred supplier to the Société québécoise du cannabis, along with supply agreements in British Columbia, Ontario, a strategic investment in the private cannabis retailer Fire & Flower and Truss, a partnership with Molson Coors Canada to create cannabis-infused beverages once regulations permit.
HEXO is tremendously undervalued in a fundemental perspective. Solid company with an award winning product and a massive 108,000 annual production of 108,000kg. Compared to Cronos's production of 25,000kg and trading at triple the valuation. As soon as a larger pool of investors catches HEXO under their radar I see the price creep towards $7-$8.