Cannabis firm says its plan, which was unveiled last month after its debts mounted and its co-founder left the business, will deliver about $175 million in cash over the next two fiscal years.
Truss Beverage Co.
PricewaterhouseCoopers said its recent review of the Ottawa-based cannabis business showed that Hexo did not maintain effective internal control over financial reporting.
Move comes just two days after co-founder and former chief executive Sebastien St-Louis abruptly departed the Ottawa cannabis company.
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.
New video promo says facility has been “engineered to manufacture advanced cannabis products” – including beverages that contain THC, the active ingredient in cannabis that helps produce a high.
Increasingly crowded marketplace also includes beverages from Canopy Growth and other producers.