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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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#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
#572   HEXO Corp reports financial results for the first Smokemonster 12/16/19 08:11:46 AM
#571   I think under $3 is a steal, just Smokemonster 11/25/19 09:26:28 AM
#570   $2.56 + 4% HEXO$ 12yearplan 11/20/19 09:38:48 AM
#569   Nice recovery, was expecting more of a bath. Smokemonster 10/29/19 10:41:48 AM
#568   Investors seem to like the job cuts Smokemonster 10/24/19 01:59:07 PM
#567   https://www.tradingview.com/chart/HEXO/FuYB2LQP-HEXO-Corp-Forecast/ 12yearplan 10/22/19 11:31:21 AM
#566   Up 20% yesterday was expecting a cool down Smokemonster 10/18/19 03:27:37 PM
#565   Sebastian is kind of pumped 12yearplan 10/18/19 06:39:24 AM
#564   3 times a charm -> blast thru 3.70.. 12yearplan 10/17/19 12:08:12 PM
#563   Zoom.. https://pbs.twimg.com/media/EG7QemcWoAUI4XB.jpg 12yearplan 10/15/19 10:30:34 AM
#562   HEXO CFO resigns seanster 10/04/19 05:17:55 PM
#561   10/24/19 xray168 10/02/19 10:36:44 PM
#560   Hexo is headed for delisting seanster 10/02/19 01:47:25 PM
#559   Great day to buy! Smokemonster 10/02/19 10:00:45 AM
#558   Yes it is. Q3 6/12/19. Q4 should be seanster 10/02/19 09:22:58 AM
#557   No it's not xray168 10/01/19 11:59:07 PM
#556   earnings report is 2 weeks past due. what's seanster 10/01/19 03:50:41 PM
#555   Charts looking they might be ready to take off. Smokemonster 09/27/19 08:14:45 AM
#554   SAFE Banking Act (H.R. 1595) gets voted on tomorrow. nowwhat2 09/24/19 10:32:21 PM
#553   YES SIR!!! Pstats 09/23/19 11:27:47 AM
#552   Did you disappear or still trying to cover? Smokemonster 09/23/19 10:01:13 AM
#551   What’s your guess for next week, just so Smokemonster 09/22/19 11:21:58 AM
#550   Huh? You just making stuff up now? Smokemonster 09/16/19 01:48:52 PM
#549   Selling on news ! Haha! Typical pink sheet tactics Pstats 09/16/19 11:45:14 AM
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