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Gatineau medical marijuana producer The Hydropothecary Corp. plans to change its name to the shorter, snappier HEXO Corp.
The name switch, which must be approved at a meeting of shareholders, comes as the company gets ready to sell recreational marijuana.
The company announced last month that its line of recreational pot products will be sold under the HEXO brand.
“HEXO will help bring people together to share enjoyable and life-affirming experiences, while breaking through the stigma that still surrounds cannabis and its users among some Canadians,” said a company statement.
Products bought by medical patients will still bear the Hydropothecary brand name.
The company also graduated from the smaller TSX Venture Exchange to the Toronto Stock Exchange on Friday. The move is a sign of Hydropothecary’s “growth and proven ability to execute,” said CEO and co-founder Sebastien St-Louis in a statement.
The Hydropothecary facility on a former farm about 40 kilometres east of Ottawa in Masson-Angers is growing rapidly. Two expansions are planned that will create a total of nearly 1.3 million square feet of greenhouse space by the end of the year, the company says. That will boost cannabis production to around 108,000 kilograms a year from the current production of 3,600 kilograms a year.
Hydropothecary has signed a deal to supply cannabis to the subsidiary of the Quebec liquor authority that will sell recreational marijuana in the province. The company estimates it will supply 200,000 kilograms of cannabis under the five-year contract.
Recreational pot will be legal for sale in Canada on Oct. 17.
jmiller@postmedia.com
twitter.com JacquieAMiller
查看原文...
The name switch, which must be approved at a meeting of shareholders, comes as the company gets ready to sell recreational marijuana.
The company announced last month that its line of recreational pot products will be sold under the HEXO brand.
“HEXO will help bring people together to share enjoyable and life-affirming experiences, while breaking through the stigma that still surrounds cannabis and its users among some Canadians,” said a company statement.
Products bought by medical patients will still bear the Hydropothecary brand name.
The company also graduated from the smaller TSX Venture Exchange to the Toronto Stock Exchange on Friday. The move is a sign of Hydropothecary’s “growth and proven ability to execute,” said CEO and co-founder Sebastien St-Louis in a statement.
The Hydropothecary facility on a former farm about 40 kilometres east of Ottawa in Masson-Angers is growing rapidly. Two expansions are planned that will create a total of nearly 1.3 million square feet of greenhouse space by the end of the year, the company says. That will boost cannabis production to around 108,000 kilograms a year from the current production of 3,600 kilograms a year.
Hydropothecary has signed a deal to supply cannabis to the subsidiary of the Quebec liquor authority that will sell recreational marijuana in the province. The company estimates it will supply 200,000 kilograms of cannabis under the five-year contract.
Recreational pot will be legal for sale in Canada on Oct. 17.
jmiller@postmedia.com
twitter.com JacquieAMiller
查看原文...
