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Hexo Shares Climb After Venture Launches CBD Drink in Colorado

BY Dow Jones & Company, Inc.
11:21 AM ET 01/13/2021

Hexo Corp.'s ( HEXO ) shares advanced Wednesday after the cannabis company's joint venture with Molson Coors Beverage Co. launched a new line of non-alcoholic, sparkling CBD beverages exclusively in Colorado.

In late-morning trading, the stock was 9.8% higher at C$7.43 on the Toronto exchange. It has fallen 6.2% over the last 12 months.

The hemp-derived sparkling water, named Veryvell, was launched in the state through the companies' Truss CBD USA venture.

Hexo ( HEXO ) said it has near-term plans to invest additional capital in the U.S. to support the joint venture and to push its strategy with other potential partners outside of beverages, with whom it currently is in ongoing negotiations.

Write to Robb M. Stewart at [e-mail]