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)

How CN Cycle for CHEO powers world-class cancer research
“Kids shouldn’t have to die of cancer,” says Tamy Bell when asked why Dr. Shawn Beug’s research at CHEO is so important. Bell, after all, should know: Not only is

Glenview Homes Unveils Union West: A New Chapter in Stittsville Living
Union West, Glenview Homes’ highly anticipated new community in the heart of Stittsville is welcoming buyers at its brand-new Sales Centre and model home, The Reveli, located at 6147 Fernbank
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.