Proactiveinvestors USA & Canada Hexo Corporation https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Hexo Corporation RSS feed en Mon, 27 May 2019 10:23:21 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - HEXO Corp steps up to help Quebec food charity Moisson Outaouais ]]> https://www.proactiveinvestors.com/companies/news/220352/hexo-corp-steps-up-to-help-quebec-food-charity-moisson-outaouais-220352.html HEXO Corp (TSE:HEXO) (NYSEAMERICAN:HEXO) unveiled bright news Wednesday that it was stepping up to help Quebec food charity Moisson Outaouais, with a donation of C$20,000 to purchase fresh fruits and vegetables to be distributed to people in need.

The Gatineau-Quebec based non-profit provides food to those in need and is dealing with a number of unforeseen events, including spring floods in the area. 

"Moisson Outaouais does a remarkable job for the people of the Outaouais region, both for the daily needs of the most disadvantaged and for those affected by unforeseen events, such as the recent spring floods," said Terry Lake, vice president, Corporate Social Responsibility at HEXO in a statement.

READ: HEXO stock soars after Newstrike acquisition

HEXO is a cannabis packaging company that creates and distributes products to serve the global cannabis market. 

"The mission of this non-profit organization is in perfect harmony with our own commitment to caring for people, one of the four priorities of our corporate social responsibility charter," said Lake. "Food aid has a direct impact on people's quality of life and we are happy to be able to contribute."

Moisson Outaouais helps fight hunger

Moisson Outaouais helps an average of 10,500 people per month. Of all these requests, 37% are for children. Last year, the organization redistributed more than 820,505 kilograms of food.

"Moisson Outaouais is delighted to see a company like HEXO join such an important cause, the fight against hunger. As the needs are great, especially within the current context of the floods, HEXO's donation will make a big difference to the people in the community and we invite other companies to follow HEXO’s example," said Armand Kayolo, general manager of Moisson Outaouais.

HEXO has been supporting Moisson Outaouais since last year, when the company made its first donation of $5,000 in October 2018.

Shares of HEXO were up on Wednesday, up 5% at C$9.71 in Toronto, up 4.9% at US$7.23. 

Contact Katie Lewis at katie@proactiveinvestors.com

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Wed, 15 May 2019 13:25:00 -0400 https://www.proactiveinvestors.com/companies/news/220352/hexo-corp-steps-up-to-help-quebec-food-charity-moisson-outaouais-220352.html
<![CDATA[Media files - Buds & Duds: HEXO stock rises on promising 2Q results; Cannabix tests its marijuana breathalyzer ]]> https://www.proactiveinvestors.com/companies/stocktube/12605/buds--duds-hexo-stock-rises-on-promising-2q-results-cannabix-tests-its-marijuana-breathalyzer-12605.html Thu, 14 Mar 2019 16:18:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/12605/buds--duds-hexo-stock-rises-on-promising-2q-results-cannabix-tests-its-marijuana-breathalyzer-12605.html <![CDATA[News - Buds & Duds: HEXO stock rises on promising 2Q results; Cannabix tests its marijuana breathalyzer ]]> https://www.proactiveinvestors.com/companies/news/216500/buds--duds-hexo-stock-rises-on-promising-2q-results-cannabix-tests-its-marijuana-breathalyzer-216500.html The cannabis sector saw a slow day Thursday, mirroring larger market trends.

The North American Marijuana Index, which tracks top cannabis stocks in the US and Canada, fell 0.5% to 288.5.

Buds

HEXO Corp (NYSE:AMERICAN:HEXO) (TSX:HEXO) announced fiscal second-quarter results Thursday that showed shrinking losses and surging revenue.

The medical and adult-use cannabis producer posted a loss of C$4.3 million, half the size of its nearly C$9 million loss a year earlier. Net revenue from the sale of goods increased to C$13.4 million from C$1.2 million a year earlier.

The stock is up 1.9% to US$6.06 in New York and gained 2.9% to C$8.06 in Toronto.

READ: HEXO stock soars after Newstrike acquisition 

Cannabix Technologies Inc (OTCMKTS:BLOZF) (CSE:BLO) announced that testing of its marijuana breathalyzer has produced “stable and consistent” results. The company has bene conducting human testing since late January, and engineers may now make additional changes to the breath collection unit.

Investors were breathing the stock in, increasing share price 7.4% to US$1.11 on the OTC Markets and boosting it by 11% to C$1.50 on the CSE.

Duds

GrowGeneration Corp (OTCMKTS: GRWG) was down 3.4% to US$2.83, in line with the broader cannabis market.

Aurora Cannabis Inc (NYSE:ACB) (TSX:ACB) dropped 1.9% to US$8.90 in New York and decreased 1.2% to C$11.88 in Toronto.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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Thu, 14 Mar 2019 11:33:00 -0400 https://www.proactiveinvestors.com/companies/news/216500/buds--duds-hexo-stock-rises-on-promising-2q-results-cannabix-tests-its-marijuana-breathalyzer-216500.html
<![CDATA[News - HEXO stock soars after Newstrike acquisition ]]> https://www.proactiveinvestors.com/companies/news/216416/hexo-stock-soars-after-newstrike-acquisition-216416.html HEXO Corp (NYSEAMERICAN:HEXO) entered into an agreement to buy Newstrike Brands Ltd (TSX:HIP) (OTC:NWKRF) in an all-stock deal worth C$263 million. the company announced Wednesday.

The deal gives the medical and adult-use cannabis producer an additional capacity of about 150,000 kg of cannabis annually and expand its distribution reach to eight Canadian provinces. The Gatineau, Quebec-based company will also gain access to four production campuses featuring nearly 1.8 million square feet of cultivation space.

Shares jumped 6.7% to $5.95 in New York.

READ: Buds & Duds: HEXO, Weekend Unlimited lead a surging cannabis sector

HEXO expects the deal to boast annual benefits of $10 million and hopes to achieve more than $400 million in net revenue in fiscal 2020.

“With Newstrike, we're adding talented employees and infrastructure to take HEXO to the next level on our journey to become one of the largest cannabis companies in the world.” CEO and co-founder Sebastien St-Louis said. “We're extremely proud of our record of execution.”

As part of the deal, Newstrike shareholders will receive less than 0.1 HEXO common shares for every Newstrike common share they own.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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Wed, 13 Mar 2019 15:18:00 -0400 https://www.proactiveinvestors.com/companies/news/216416/hexo-stock-soars-after-newstrike-acquisition-216416.html
<![CDATA[Media files - Buds & Duds: HEXO, Weekend Unlimited lead a surging cannabis sector ]]> https://www.proactiveinvestors.com/companies/stocktube/12578/buds--duds-hexo-weekend-unlimited-lead-a-surging-cannabis-sector-12578.html Tue, 12 Mar 2019 14:54:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/12578/buds--duds-hexo-weekend-unlimited-lead-a-surging-cannabis-sector-12578.html <![CDATA[News - Buds & Duds: HEXO, Weekend Unlimited lead a surging cannabis sector ]]> https://www.proactiveinvestors.com/companies/news/216315/buds--duds-hexo-weekend-unlimited-lead-a-surging-cannabis-sector-216315.html Cannabis stocks are having a good day Tuesday, as Wall Street rounded back into form. 

The Marijuana Index, which tracks leading cannabis securities in North America, rose 2.1% to 296.3.

Buds

HEXO Corp (NYSE:HXO) announced Tuesday that it became the first cannabis company to join the Food & Consumer Products of Canada, an association that represents companies that manufacture and distribute in Canada.

The Gatineau, Quebec-based company hopes that the membership will allow them more meetings with industry leaders and shape the business environment, the company said in a statement.

“HEXO is thrilled to be the first cannabis company to join the Food & Consumer Products of Canada, an established and industry-leading association in the consumer-packaged goods space,” CEO and co-founder Sébastien St. Louis said.

The share price gained 1.3% to $5.62.

Weekend Unlimited Inc (CSE:POT) (OTCQB:WKULF) opened its global headquarters in New York City, the company announced Tuesday. The cannabis investment firm is based in Vancouver, but its CEO lives in New York.

"Since our growth strategy is focused on product development and sales for recreational cannabis use across the United States, it is important for us to establish our base in New York City for our team to accelerate business results," CEO Paul Chu said.

The stock got a 3.9% boost on the CSE.

READ: Weekend Unlimited opens its global headquarters in the Big Apple

KushCo Holdings Inc (OTCQB: KSHB) entered an agreement with IKEO Corp to produce compostable and biodegradable packaging products for cannabis and CBD products, the company announced Tuesday. IKEO will work with KushCo to develop environmentally-friendly packaging unique to the cannabis industry, the company said.

"It's our responsibility to reimagine our products today to ensure the viability of our planet tomorrow,” CEO Nick Kovacevich said. “Customers are demanding an environmentally conscious solution for their everyday packaging needs. Partnering with [CEO] Bob Meers and IEKO is a huge win for us.”

Investors appreciated the environmental effort, sending the stock up 1% to $5.83.

Duds

Generation Alpha (OTCMKTS:GNAL) plunged 12.8% to $0.34 on no news. Meanwihle, MariMed Inc (OTCQB:MRMD) shares dipped 2.2% to $3.79.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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Tue, 12 Mar 2019 12:58:00 -0400 https://www.proactiveinvestors.com/companies/news/216315/buds--duds-hexo-weekend-unlimited-lead-a-surging-cannabis-sector-216315.html
<![CDATA[News - Hexo Corp shares jump on hopes for more Canadian cannabis deals ]]> https://www.proactiveinvestors.com/companies/news/204368/hexo-corp-shares-jump-on-hopes-for-more-canadian-cannabis-deals-204368.html Hexo Corporation (OTCMKTS:HYYDF) (CVE:THCS) stock climbed on Thursday after a part owner of the company urged it to explore more deals in the hot cannabis space in Canada, which is poised to legalize pot next month.

An owner of about 2.5% of Hexo, Riposte Capital wants the company to cash in on the cannabis craze with a deal, either in a sale or a major investment from the likes of Molson Coors (NYSE:TAP), with which it's already in a joint venture to develop nonalcoholic, cannabis-infused beverages, a post by Seeking Alpha said.

For now, the report said Hexo chief executive Sebastien St. Louis remains focused on additional joint ventures with large package consumer goods companies.

Shares of Hexo in Toronto were up 8.15% to trade at C$6.37. The shares in New York's over-the-counter market gained 7.84% to US$4.81.

READ: The Hydropothecary Corp has great potential in Quebec, says Eight Capital

Hexo had approved a change in its name last month from The Hydropothecary Corp. Hexo creates and distributes easy-to-use and easy-to-understand products to serve the Canadian cannabis market.

It is one of the country’s lowest-cost producers. The company is increasing its production capacity in the lead up to the adult-use cannabis market. Hexo will serve the adult-use market under the Hexo brand, while continuing to serve its medical cannabis clients through the well-known Hydropothecary brand.

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Thu, 06 Sep 2018 12:13:00 -0400 https://www.proactiveinvestors.com/companies/news/204368/hexo-corp-shares-jump-on-hopes-for-more-canadian-cannabis-deals-204368.html