After just one month of stepping down from the role of Chief Executive Officer, Hexo Corp (TSX: HEXO) has seen its founder and former executive leave the company for good. The firm announced this morning that Sebastian St-Louis has stepped down from the board of directors.
Reasoning behind St-Louis’ departure was not provided and its unclear if it was previously planned, given that it was effective yesterday, exactly one month after the prior announcement of his departure as CEO.
Taking St-Louis’ place on the board of directors at Hexo is Scott Cooper, whom has been announced as the President and CEO of Hexo Corp.
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Also notable, is that yesterday a story broke in Le Journal De Montreal, indicating that the Sûreté du Québec, the provincial police force in Quebec, has alerted the feds that Hexo’s Redecan is “linked to a relative of the Hells Angels.” Hexo is currently the largest supplier of cannabis in Quebec.
Hexo last traded at $1.65 on the TSX.
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.
One Response
Initially Hexo was Hydropothecary, some pumpous reference to pioneer Louis Hébert in Nouvelle-France. In 2015 they made the news because of myclobutanil which gets turned into hydrogen cyanide (HCN) if heated, although that’s actually a Level-3 poison of the Chemical Weapons Convention! Hexo later promissed “kosher”… Then we heard of Hexo operations elsewhere in Canada and USA, hence necessarily implying a loss of green money serving other economies instead…
IMO it’s now quite relevant to remind ourselves about the UNILATERAL TRANSFERT of a provincial “compétence” to Ottawa, via Henri-Sévérin Béland in 1923 while the Pharmacy Act printed in 1890 inherited its authority from the Britanic Empire! So here goes a great opportunity to reclaim our constitutional responsability (as per the 1867 confederation) and put it back in the hands of Québec’s parliament at last – even start thinking of “Co-Ops” owned & operated by the consumers to serve their own kind.