Hexo Cements US Presence With Addition Of Colorado Production Facility

Hexo Corp HEXO formalizes its U.S. presence by closing the previously disclosed transaction to purchase its first U.S. production facility through a wholly-owned U.S. subsidiary.
The ~50,000 sq. ft. facility in Fort Collins, Colorado, will provide U.S. consumer packaged goods (CPG) companies and consumers access to the Powered by HEXO technology and products.
The Colorado production facility is zoned for the production of a full range of cannabis products and offers various operational capabilities.
"The Colorado facility will allow us to successfully execute on our U.S. strategy, which includes supplying high quality Powered by HEXO technology and leveraging our intellectual property portfolio across the United States," said CEO Sebastien St-Louis.
Price action: HEXO shares are trading higher by 1.46% at $5.91 on the last check Monday.

Cannabis rescheduling seems to be right around the corner