HEXO Corp (“HEXO” or the “Company”) (TSX: HEXO; NYSE: HEXO) announces closing of the previously disclosed transaction to purchase its first US production facility through a wholly owned US subsidiary. The ~50,000 sq. ft. facility in Fort Collins, Colorado will provide US CPG companies and consumers access to the Powered by HEXO® technology and products.
“The Colorado facility will allow us to successfully execute on our US strategy, which includes supplying high quality Powered by HEXO® technology and leveraging our intellectual property portfolio across the United States,” said HEXO Corp CEO and co-founder Sebastien St-Louis. “The facility will also provide us with the necessary infrastructure to continue expanding our joint-venture with Molson Coors to create Truss CBD-infused beverages, while also creating the necessary capacity to support future, non-beverage CPG partnerships.”
The Colorado production facility, HEXO’s first in the US, is zoned for production of a full range of cannabis products and offers a variety of operational capabilities. The site is located along primary shipping routes and will be retrofitted to support Powered by HEXO® initiatives across the country, in compliance with all applicable laws and regulations.
Powered by HEXO® is the trusted solution for leading CPG companies to safely enter the cannabinoid market, combining HEXO’s expertise in cannabis with CPG partners’ expertise in their industries to co-develop best-in-class cannabinoid-infused products.