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Licensed cannabis company HEXO Corp seeks NYSE listing
GATINEAU, Quebec - Canadian licensed cannabis company HEXO Corp has announced that it has filed an application to list its common shares on the NYSE American.
December 21, 2018 By Grow Opportunity Staff
The company stated this is an important milestone in its growth and will broaden HEXO’s exposure to U.S. institutional and retail investors.
Based in Quebec, HEXO has a contract with the Société québécoise du cannabis – the provincial Crown corporation in Quebec responsible for the trade of cannabis within the province – to supply up to 200,000 kilograms of cannabis worth more than $1 billion over a five-year term.
HEXO also has supply agreements in British Columbia and Ontario in addition to a partnership called Truss to develop non-alcoholic cannabis-infused beverages.
Earlier this year, the company’s chief executive officer committed to investors that it would seek a listing on an American stock exchange by the end of 2018, according to a release.
“This is a remarkable milestone for our company,” said HEXO’s CEO and co-founder Sebastien St-Louis. “We committed to our shareholders that HEXO would seek a listing in the US by the end of 2018 and I am proud to say that we delivered. We have a proven track record for our ability to execute and we will maintain it through our focus on developing and distributing innovative consumer-packaged cannabis products.”
HEXO currently operates with over 310,000 sq. ft. of production capacity with construction on another 1,000,000 sq. ft. expansion set to be complete by year end.
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