Ottawa-based firm's net revenue totalled $22.7 million, up from $22.1 million in the same quarter last year.
Ottawa-based cannabis firm said Friday it will pay $400 million in cash and $525 million in shares for Toronto-based Redecan as it continues to hunt for more market share.
CEO of Ottawa-based firm says arrangement would leverage Hexo's technology to help multi-state operators boost their product quality and margins while lowering costs.
Aiming high: Hexo's $50M deal for T.O. producer next step in 'big push' to become global cannabis powerhouse
Hexo CEO Sebastien St-Louis said 48North’s strength in topical CBD- and THC-infused creams and ointments was a major selling point as Ottawa firm looks to expand its product lines.
Ottawa-based pot producer says it also wants to upgrade its plant in Belleville, where it bottles cannabis-infused drinks in a joint venture with brewing giant Molson Coors.
CEO Sebastien St-Louis said the Ottawa-based company is seeking “maximum flexibility” to make acquisitions and sign partnerships with players in related industries.
Ottawa-based cannabis firm reported a loss of $20.8 million in its latest quarter, compared with a loss of $298.2 million in the same period in 2020.
The companies believe the deal will help Ottawa-based cannabis producer access the European medical cannabis market through Zenabis' partnerships.
Hexo co-founders Adam Miron and Sébastien St-Louis, along with writer Julie Beun, reflect on their journey creating the local licensed cannabis producer.
Ottawa firm posted net revenues of $29.5 million for the three-month period ending Oct. 31, up from $14.5 million in the first quarter of 2020.