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Last Post: 12/14/2021 11:00:19 AM - Followers: 32 - Board type: Free - Posts Today: 0


09/06/2018 - 11:45 AM EDT

Hexo CEO ‘very confident’ in expansion plans, says sale ‘matter of time’

Sébastien St. Louis, CEO of Hexo Corp, joins BNN Bloomberg to discuss calls from activist investor Riposte Capital to put the marijuana producer for sale.


HEXO acquires interest in 2M sq. ft. facility in Belleville, Ontario to create R&D and manufacturing centre of excellence 
GlobeNewswireSeptember 10, 2018, 10:54 AM MDT 
GATINEAU, Quebec, Sept. 10, 2018 (GLOBE NEWSWIRE) -- HEXO Corp. (“HEXO” or the “Company”) (HEXO.TO) has announced the acquisition of an interest in a 2,004,000 sq. ft. facility in Belleville, Ontario. This is the first facility of the Company to be established outside of Quebec, further delivering on its national expansion strategy and providing capacity for the manufacturing of advanced cannabis products, including cosmetics, vapes, non-alcoholic beverages and other edibles. 

The centralized location, conveniently located along primary shipping routes in Ontario, presents the opportunity to process and distribute products and to fulfil commitments across Canada. The space also supports the Company’s hub and spoke model. Its scalability, flexibility and location are ideal to deliver on anticipated future joint ventures with Fortune 500 companies for cosmetics, edibles, vapes, and more, positioning it to become a centre of excellence for all of HEXO’s joint ventures. HEXO’s expansion will also lead to the creation of jobs and a rejuvenated employment sector for the area. 

The building, previously used as a Sears distribution centre, will be owned in a joint venture with Olegna Holdings Inc. Initially, HEXO plans to lease up to 500,000 sq. ft. of the space from the joint venture. The proposed use of the building is conditional on the city approving the rezoning application. 

“There is a skilled workforce in the Belleville area, and we look forward to capturing it,” said Sebastien St-Louis, HEXO’s co-founder and CEO. “We are investing in the region and its people with a view to achieving a sustainable national presence. For the first time, we are stepping out of our home province of Quebec and are committed to and demonstrating our commitment to serve and expand across Canada. And we are keeping future partnership and international opportunities in sight for the near future.” 

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. 

The transaction is considered a “related party transaction” within the meaning of Multilateral Instrument 61 - 101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”) because Mr. Vincent Chiara, a director of HEXO, holds a majority interest in Olegna Holdings Inc. HEXO is relying on applicable exemptions from the minority approval and valuation requirements of MI 61-101 on the basis that neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction exceeds 25% of HEXO’s market capitalization. The terms of the transaction have been reviewed and approved by the independent directors of the Company, and the rental rates for the facility were supported by estimates from independent appraisers. 






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#623   Not to worry... Hexo has a plan! Bonno 12/14/21 11:00:18 AM
#622   Tomorrow will be a doozy. Bonno 12/13/21 02:37:25 PM
#621   Hexo warns cash flow isn’t sufficient to support Bonno 12/13/21 09:26:05 AM
#620   Oh dear and, thanks Man.. not holdin' presently 12yearplan 10/29/21 06:28:50 PM
#619   They should grow good weed as bunk does,nt Bonno 10/29/21 02:41:53 PM
#618   Hexo CEO Sebastien St-Louis leaves company amid strategic reorganization Diogenes of Sinope 10/19/21 03:20:43 AM
#617   As one of the biggest players HEXO really should 12yearplan 09/29/21 07:05:47 AM
#616   Hehe, you are a savant 12 and just 12yearplan 09/29/21 06:43:24 AM
#615   Interesting WW, HEXO and dat other one 12yearplan 09/15/21 01:43:59 PM
#614   Lol, shorts panicky with that wall at $3.20 12yearplan 08/23/21 01:02:21 PM
#613   Wow garbage stock jjjj. steez 08/13/21 12:13:59 PM
#612   HEXO planned to replace some of its strains Bonno 06/25/21 05:10:26 PM
#611   Welp, two big generalizations and assumptions based on 12yearplan 06/25/21 09:30:41 AM
#610   Hexo,s bunk weed has no future... Bonno 06/25/21 09:12:54 AM
#609   Still $4.49/g Original Stash HEXO 12yearplan 06/24/21 03:32:27 PM
#608   Sooner or later LPees will have to drop Bonno 06/24/21 03:00:03 PM
#607   Stand corrected Sir many showing profit (but Aphria/Broken 12yearplan 06/24/21 01:22:24 PM
#605   Not one profitable pot co. yet 12yearplan 06/24/21 11:35:44 AM
#604   HEXO Burn Rate - 20 Mil /w 196 12yearplan 06/24/21 11:34:28 AM
#603   Another doomed dud Bonno 06/24/21 11:19:20 AM
#602   Hexo to buy Redecan for $925 million as Diogenes of Sinope 05/28/21 04:42:30 PM
#601   https://investorshub.advfn.com/Hexo-Corp-HEXO-32706/ Diogenes of Sinope 05/28/21 04:40:19 PM
#600   HEXO—GLTA Diogenes of Sinope 05/28/21 09:03:57 AM
#599   Hi chicken, keeping a straight face Flycanuck 05/28/21 01:48:13 AM
#598   I remember St-Louis showing us a pound bag, Bonno 05/12/21 05:22:07 PM
#597   Nice week ;) 12yearplan 11/06/20 03:01:57 PM
#596   Pst, too soon - wait for it friend ;). 12yearplan 03/18/20 08:09:58 PM
#595   Hexo .9 yup! Pstats 03/09/20 03:05:35 PM
#594   1.69 - 1.98 12yearplan 02/14/20 03:22:57 PM
#593   $1.65-$1.76 12yearplan 02/12/20 03:57:51 PM
#592   1.65 - 1.74 HEXO$ 12yearplan 02/07/20 11:18:50 AM
#591   Bang!, Angel Eyes resistance. 12yearplan 02/07/20 11:00:26 AM
#590   Sebastian is a scammer! Go back to selling Pstats 02/07/20 10:48:47 AM
#589   I bought in at 1.34 the other day! Pstats 02/07/20 10:46:34 AM
#588   Lmao!! HEXO is a turd and will be Pstats 02/07/20 10:45:31 AM
#587   Well, Sebastian apparently has a vigorous response planned. 12yearplan 01/27/20 10:12:34 PM
#586   Appreciate it. Maybe we can get some consensus ;) 12yearplan 01/27/20 08:21:27 PM
#585   Buying back in once the PPS hits $1 junkHustler 01/27/20 08:19:07 PM
#584   Maybe tomorrow a better time to get back 12yearplan 01/27/20 07:28:43 PM
#583   https://www.bnnbloomberg.ca/medipharm-sues-hexo-after-claiming-breach-of-contrac Expresso123 01/27/20 07:19:39 PM
#582   Hmpf, no commitment/indecision at $1.75/6 12yearplan 01/27/20 03:59:55 PM
#581   Lol, good one, anyhow looks like CIBC is 12yearplan 01/27/20 03:40:51 PM
#580   What is what's a happenin', when is next.. 12yearplan 01/21/20 10:11:01 AM
#579   Lol, I'm starting to understand ur handle nowwhat2 12yearplan 01/16/20 10:04:25 AM
#578   Hadn't heard that in a while - Nice cut. nowwhat2 01/16/20 09:58:46 AM
#577   Good info Now and congrats!.. still going 12yearplan 01/16/20 09:45:20 AM
#576   And more to come hopefully — KSHB should deadjim 01/16/20 02:04:50 AM
#575   But still.... nowwhat2 01/16/20 01:49:14 AM
#574   Yeah, u hot for dis stock ;) 12yearplan 01/14/20 09:46:58 AM
#573   $1.73 the other day is lookin' good. 12yearplan 01/09/20 08:03:36 PM
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