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The Hydropothecary Corporation (TSX:HEXO)

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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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HEXO News: HEXO to begin trading on the NYSE American 01/17/2019 07:00:00 AM
HEXO News: HEXO Corp. announces results of annual general meeting 01/17/2019 06:30:00 AM
HEXO News: HEXO Strengthens Commitment to Research and Innovation, Appointing Chief Innovation Officer 01/15/2019 06:30:00 AM
HEXO News: HEXO reaches construction and licensing milestones for its massive 1 million sq. ft. greenhouse – on time and on budget 12/27/2018 06:30:00 AM
HEXO News: HEXO Corp, licensed cannabis company, delivers on commitment to seek a listing on the NYSE 12/21/2018 06:00:00 AM
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#357  Sticky Note Lotta Pot 12/27/2018 @ 6:30AM HEXO Corp (“HEXO” 12yearplan 12/27/18 06:55:50 AM
#288  Sticky Note Molson Coors Canada and HEXO Launch Truss junkHustler 10/04/18 06:06:14 PM
#382   https://ca.finance.yahoo.com/news/cannabis-company-hexo-wants-become-intel-insid 12yearplan 01/18/19 03:50:00 PM
#381   Whahahaha.. HEXO$ 12yearplan 01/18/19 10:19:23 AM
#380   Very steady today price action today, must be 12yearplan 01/16/19 02:55:32 PM
#379   I see it’s an iHub issue. Can’t Smokemonster 01/16/19 02:50:25 PM
#378   Still going. AGM 6pm tonight!. 12yearplan 01/16/19 02:43:23 PM
#377   Stock get halted? No trading last little bit? Smokemonster 01/16/19 02:34:06 PM
#376   Lol, don't torture yourself it's a 30sec sprint 12yearplan 01/09/19 06:51:40 PM
#375   New PR out tonight. We are pleased Smokemonster 01/09/19 06:36:45 PM
#374   like this: [yt]kzw1_2b-I7A[/yt] la_trader 01/08/19 12:30:52 PM
#373   100% agree and actually think it’s more of Smokemonster 01/08/19 09:22:24 AM
#372   It's a double. 12yearplan 01/07/19 09:31:16 PM
#371   It's a marathon LA ;), thx!. 12yearplan 01/07/19 06:01:03 PM
#370   This is a great company, and will only Smokemonster 01/07/19 01:08:14 PM
#369   HEXO nice call 12yearplan lookin strong. la_trader 01/07/19 11:18:16 AM
#368   https://ottawacitizen.com/opinion/columnists/miron-let-cannabis-consumer-brands- 12yearplan 01/04/19 09:16:30 AM
#367   Looks like bottom is in, time to make Smokemonster 01/03/19 06:15:25 PM
#366   https://twitter.com/SwingTradeBotCA/status/1080887561600593920 12yearplan 01/03/19 01:17:20 PM
#365   https://charts.stocktwits.com/production/original_149597035.PNG 12yearplan 01/03/19 11:19:54 AM
#364   https://soundcloud.com/nhat-doan-22612763/h-e-x-o-wallstreet 12yearplan 01/03/19 10:15:49 AM
#363   T/A at 13 min remaining mark 12yearplan 01/02/19 02:47:15 PM
#362   Lol, bout' 8 tradin' daze ;). 12yearplan 01/02/19 11:41:56 AM
#361   long overdue ! Ridgeback2017 01/02/19 11:33:53 AM
#360   $5.00 12yearplan 01/02/19 11:10:31 AM
#359   HEXO reaches construction and licensing milestones for its junkHustler 12/27/18 11:51:37 AM
#358   Lotta Building https://pbs.twimg.com/media/Dvbdx9TXgAAgucJ.jpg 12yearplan 12/27/18 09:58:39 AM
#357   Lotta Pot 12/27/2018 @ 6:30AM HEXO Corp (“HEXO” 12yearplan 12/27/18 06:55:50 AM
#356   Lotta Bone$ Along with their NYSE application, HEXO 12yearplan 12/27/18 06:54:14 AM
#355   https://www.youtube.com/watch?feature=youtu.be&v=Myacgl9FLr4&app=desktop 12yearplan 12/24/18 09:51:20 AM
#354   GATINEAU, Quebec, Dec. 21, 2018 (GLOBE NEWSWIRE) -- postal72 12/21/18 09:09:18 AM
#353   NYC Baby! GATINEAU, Quebec, Dec. 21, 2018 (GLOBE 12yearplan 12/21/18 09:08:50 AM
#352   Summary In two weeks of recreational sales, Hexo sold 12yearplan 12/18/18 10:25:55 AM
#351   Yeah, not that many strands dude ;) 12yearplan 12/13/18 09:01:57 PM
#350   Yep. Do the math. junkHustler 12/13/18 05:50:57 PM
#349   Does anyone see that they made $5.2 million The Small Lebowski 12/13/18 05:10:09 PM
#348   HEXO Corp reports $6.7 million in gross revenue postal72 12/13/18 08:38:32 AM
#347   Retail Cannabis Sales Fuel 506% Revenue Growth for Expresso123 12/13/18 08:16:41 AM
#346   https://www.thegrowthop.com/wp-content/uploads/2018/11/1a_Hydropothecary2-e15435 12yearplan 12/03/18 12:16:39 PM
#345   HEXO scoops two prizes at 2018 Canadian Cannabis Awards junkHustler 12/03/18 12:06:22 PM
#344   Looking for that higher high. No, Not talking Quiet Storm 12/02/18 10:41:47 PM
#341   Might be time to sell, company not really Smokemonster 11/27/18 08:53:11 AM
#340   Find it amazing that almost all the Pot Smokemonster 11/22/18 08:54:49 AM
#339   Hexo take a Flintstones vitamin and get back Ridgeback2017 11/13/18 11:29:10 AM
#338   Up listing to happen by end of year Smokemonster 11/13/18 09:39:55 AM
#337   Short positions in Cannabis sector are crazy. Smokemonster 11/12/18 03:09:23 PM
#336   Hopefully we stabilize at $6.00, then continue north Smokemonster 11/12/18 09:40:15 AM
#335   Not just Hexo , but a lot of Ridgeback2017 11/05/18 03:32:58 PM
#334   What news do I not know that’s making Smokemonster 11/05/18 03:14:41 PM
#333   http://dailyhive.com/toronto/molson-and-hexo-officially-developing-cannabis-infu Bucky4 10/31/18 08:10:18 PM
#332   No shit , this is painfull . Ridgeback2017 10/29/18 03:04:37 PM
#331   Interesting, would love to see the market stop bleeding!!! Smokemonster 10/29/18 02:42:44 PM