Gatineau-based pot producer Hexo Corp. says it has sold its facility in Niagara Falls, Ont., for $10.25 million to an undisclosed buyer.
The cannabis company announced in March plans to list the facility after reviewing its cultivation assets.
Hexo determined that it no longer expected to restart operations, which it halted in November 2019, due to an excess of cultivation capacity in the market, forecasted demand for cannabis products and expected market development.
OBJ360 (Sponsored)
ExecHealth brings Canada’s leading advanced longevity program to National Capital Region
Ottawa’s ExecHealth was one of the first private clinics in Canada to provide personalized, ongoing primary care, having opened its doors 20 years ago this year. Now the pioneering local
Sharing “PapaJo’s” story to shine the spotlight on the Campaign to Create Tomorrow
Visitors to the seventh floor of The Ottawa Hospital’s General campus may do a double take outside Room 7123. A plaque beside the door references “PapaJo” Johns. Who, you may
The sale of the Niagara facility included land and greenhouse facilities, as well as certain equipment.
The company says it expects to use the proceeds to fund additional expansion of its Belleville, Ont., facility and for working capital and other general corporate purposes.
