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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 Corp and Newstrike Brands Ltd. Announce Closing of Arrangement 05/24/2019 06:28:43 PM
HEXO News: HEXO Corp and Newstrike Brands Ltd. Announce Closing of Arrangement 05/24/2019 06:28:43 PM
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HEXO News: Newstrike obtient une ordonnance définitive pour approuver le plan d'arrangement avec HEXO 05/22/2019 03:02:00 PM
HEXO News: Newstrike Obtains Final Order Approving Plan of Arrangement with HEXO 05/22/2019 03:01:00 PM
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#522   HIP Approves HEXO Merger + Buy/Sell Signal, Chart RTupp23 05/17/19 05:16:57 PM
#521   Yah Mon!, veritable atm ;) 12yearplan 05/16/19 10:12:39 AM
#520   Lookin good Mr. 12 ;-) la_trader 05/16/19 03:26:29 AM
#519   Big move today, congrats to 12yearplan 05/15/19 03:36:41 PM
#518   Looks like twas door number 3. 12yearplan 05/14/19 09:55:24 AM
#517   April’s Top Performing Cannabis Stocks RTupp23 05/12/19 02:27:16 PM
#516   Now here’s something you don’t see every day. 12yearplan 05/10/19 09:52:24 AM
#515   Retrace $9.80, 9.50, 8.85 ? tia. 12yearplan 05/09/19 03:56:03 PM
#514   Competition Bureau approves HEXO Corp/Newstrike Brands Ltd. Deal GATINEAU, Smokemonster 05/09/19 07:21:15 AM
#513   Another Wall Street Analyst Gives These Marijuana Stocks RTupp23 04/29/19 07:29:00 PM
#512   The best Canadian cannabis stock that I own. Waymor2go 04/29/19 11:16:13 AM
#511   Look for spare change to get in on Smokemonster 04/29/19 10:08:28 AM
#510   No complaints here. Was expecting a pull Smokemonster 04/29/19 09:09:33 AM
#509   Premarket looks happy? jstern68 04/29/19 08:59:15 AM
#508   Looks like it could be another fun day! Smokemonster 04/29/19 08:54:42 AM
#507   Lol, the math on HEXO is so easy 12yearplan 04/28/19 11:02:29 PM
#506   I would rate $HEXO a "12". la_trader 04/28/19 11:38:54 AM
#505   What a fun day to be an owner Smokemonster 04/26/19 01:21:42 PM
#504   Increasing a quantity by one order of 12yearplan 04/26/19 10:46:31 AM
#503   $HEXO -lookin good ;-) la_trader 04/25/19 10:40:50 AM
#502   HEXO Has 38% HIP Support + Buy/Sell TA RTupp23 04/24/19 02:28:57 PM
#501   Great news for HEXO shareholders. Looks like Smokemonster 04/24/19 01:51:00 PM
#500   GATINEAU, Quebec, April 24, 2019 (GLOBE NEWSWIRE) -- 12yearplan 04/24/19 01:23:38 PM
#499   Some big buys coming in. Smokemonster 04/24/19 11:56:06 AM
#498   Who care's 12 we know insiders can be 12yearplan 04/22/19 02:59:45 PM
#497   Yeah, wonder who ran it down knowing "what 12yearplan 04/17/19 02:12:11 PM
#496   Great recovery today, wonder what news is getting Smokemonster 04/17/19 12:10:57 PM
#495   Still in uptrend 12:40 12yearplan 04/15/19 08:37:07 PM
#494   HEXO Completes First Cannabis Harvest at Their 1 RTupp23 04/01/19 12:00:54 PM
#493   HEXO completes first harvest in its 1 million Smokemonster 04/01/19 07:38:25 AM
#492   https://twitter.com/Cannabis_Canada/status/1071119332363497472 12yearplan 03/30/19 11:18:22 AM
#491   Lol, have another beer ;). 12yearplan 03/26/19 11:35:51 AM
#490   COOR$ NEWSSZZ SLIMY RICHHHH taubytaub 03/26/19 11:27:00 AM
#489   Grown fond of this fellow 12yearplan 03/24/19 04:29:02 PM
#488   Happy Anniversary HEXO 12yearplan 03/21/19 08:46:34 AM
#487   $HEXO --->boing! -congrats longs la_trader 03/19/19 11:19:37 AM
#486   We lift the rocket 12yearplan 03/19/19 10:18:54 AM
#485   Another great start folks! Smokemonster 03/19/19 09:45:16 AM
#484   Up another 3% AH. junkHustler 03/18/19 05:55:49 PM
#483   RUNNING after hours in America taubytaub 03/18/19 05:07:23 PM
#482   INDEED. Cant complain. PT was bumped to $11+ junkHustler 03/18/19 04:31:41 PM
#481   Nice Day! ;) 12yearplan 03/18/19 04:05:47 PM
#480   Exactly Man, Twist My Arm, lol HEXO$ 12yearplan 03/18/19 12:26:40 PM
#479   This is just the start folks. You Smokemonster 03/18/19 10:23:02 AM
#478   Oui oui ;) $HEXO 12yearplan 03/18/19 10:05:38 AM
#477   Weeeeee taubytaub 03/18/19 09:46:07 AM
#476   Thanks Mang!, $30 in 2 years or 12yearplan 03/18/19 09:24:21 AM
#475   HEXO -broke that 8. nicely done 12 la_trader 03/18/19 02:40:05 AM
#474   Couple nice tweets https://twitter.com/Hexocorp 12yearplan 03/15/19 03:25:47 PM
#473   Going to be a fun ride Taub, look 12yearplan 03/14/19 04:03:56 PM