GATINEAU, Quebec, July 03, 2018 (GLOBE NEWSWIRE) — The Hydropothecary Corporation (“HEXO” or the “Company”) (TSX:HEXO) is pleased to announce that six of ten zones in its 250,000 sq. ft. greenhouse expansion are now licensed by Health Canada.
HEXO has maintained a remarkable pace, receiving licensing for six of ten zones in the expansion since June 13, 2018.
“We are extremely grateful for Health Canada’s diligence and cooperation, as we work together to navigate the ever-changing regulatory landscape in the cannabis industry,” said Sebastien St-Louis, HEXO CEO and co-founder.
“We are also proud of the relationship that we have built with Health Canada, and the speed of licensing that we are experiencing is a mark of our history of exceptional regulatory compliance.”
While the 250,000 sq. ft. expansion continues to receive licensing, HEXO has turned its construction efforts on an additional one million sq. ft. expansion set to be complete by year-end. Ground preparations for the additional expansion are already well underway.
HEXO creates and distributes innovative, easy-to-use and easy-to-understand products to serve the Canadian cannabis market. One of the country’s lowest-cost producers, HEXO is rapidly increasing its production capacity in the lead up to the adult-use cannabis market. The Company currently operates with 300,000 sq. ft. of production capacity and has another 1,000,000 sq. ft. expansion set to be complete by year end. HEXO will serve the adult-use market under the HEXO brand, while continuing to serve its medical cannabis clients through the well-known Hydropothecary brand.
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