Hexo Corp (TSX: HEXO) (NYSE: HEXO) announced this morning that it has secured a sales license, as well as an expanded production license for its Belleville, Ontario facility. While licensing news is rather insignificant as of late within the Canadian cannabis sector, the license is significant for the company in that the expanded licensed area encompasses the beverage production area for the firms Truss joint venture with Molson Coors.
The updated licensing enables the company to sell a number of product formats from the facility including dried and fresh cannabis, extracts, topicals, as well as edibles from the manufacturing and processing facility. The expanded licensed production space also enables the firm to significantly increase processing capabilities, including the production of cannabis 2.0 products such as hash, vapes, beverages and more.
The now fully licensed facility, as per this mornings press release, is to now act as Hexo’s main development, processing and distribution facility.
Although the newly licensed production space includes that of the cannabis beverage joint venture Truss, the company did not further elaborate on any associated timelines for such products to hit the market or any further developments by the venture.
Hexo Corp last traded at $0.63 on the NYSE.
Information for this briefing was found via Sedar and Hexo Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.