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.
Ottawa-based cannabis company says it will shutter properties in Kirkland Lake, Brantford and Stellarton, N.S., in a bid to streamline production.
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.
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.