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 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.