Hexo Announces Expansion To Ontario Stores

Consumer packaged goods cannabis company Hexo Corp HEXO announced Wednesday its dried flower cannabis products can now be purchased by consumers in Ontario.

Hexo reached an agreement with Ontario's government to sell its products at the Ontario Cannabis Store. Consumers can purchase nine of its dried flower offerings in 3.5g and 15g SKUs, including the Helios dried flower which won Best Sativa at the O'Cannabiz 2019 Industry Awards. Hexo's products will also include a wide variety of Sativa dominant, Indica dominant and hybrid strains such as Bayou, Sierra, Terra, Helios, Horizon, Lagoon, Tsunami, Atlantis and Nebula.

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"We will be allocating a significant amount of inventory to the Ontario market, considering retail demand and our goal to become the top choice for consumers in Ontario—and right across Canada," Hexo CEO and co-founder Sebastien St-Louis said in the press release.

The Quebec-based company now has exposure to Ontario where Statistics Canada estimates 15.4% of people used cannabis in the last quarter of 2018, the company said. Hexo's expansion to Ontario stores brings its total exposure to nine provinces. The Ontario market is also expected to become a $1.8 billion marketplace by 2024 and account for 39% of total sales across Canada, according to Arcview Market Research.

Hexo's stock traded around $4.80 per share at time of publication.

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