#Cannabisstocks: HEXO (TSX:HEXO) receives licensing for two more zones in 250,000 sq. ft. greenhouse expansion
GATINEAU, Quebec - June 26, 2018 (Investorideas.com Newswire) The Hydropothecary Corporation (TSX:HEXO) ("HEXO" or "The Company") is pleased to announce that four zones of its 250,000 sq. ft. greenhouse expansion are now licensed by Health Canada.
The licensing of two additional zones aligns with HEXO's continual harvest methodology, which splits the greenhouse into zones that can be tailored to each stage of plant growth.
"Four of ten zones now have plants in and are fully operational, the other zones will follow in the coming weeks, with all 10 zones set to be operational by August," said HEXO CEO and co-founder, Sébastien St-Louis.
"We are confident we will be ready to fulfill our contract as the preferred supplier to the Société québécoise du cannabis (SQDC), and are excited to see what the future holds. These ongoing expansions, along with our innovative, high-quality products, put us in an optimal position as we continue discussions with other provincial authorities," added Mr. St-Louis.
HEXO creates and distributes innovative, easy-to-use and easy-to-understand products to serve the Canadian cannabis market. One of the country's lowest-cost producers, HEXO is rapidly increasing its production capacity in the lead up to the adult-use cannabis market. The Company currently operates with 300,000 sq. ft. of production capacity and has another 1,000,000 sq. ft. expansion set to be complete by year end. 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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