HEXO Corporation, the Ottawa-based Canadian cannabis producer, has entered into a Purchase and Sales Agreement through a wholly owned US subsidiary, for a 50,000 square foot cannabis production facility. The facility, located in Northern Colorado is zoned for production of a full range of cannabinoids and offers multiple operational capabilities, according to HEXO. The Colorado facility is part of HEXO’s US plans which include supplying high-quality technology, Powered by HEXO, to current and potential Consumer-packaged-goods (CPG) partnerships in the United States. The company currently has a joint-venture with Molson Coors to create Truss CBD-infused beverages.
Truss CBD USA is a joint venture between Molson Coors Beverage Company and HEXO Corp intended to evaluate the opportunities for non-alcoholic, hemp-derived CBD exclusively in the US. All production and distribution processes are compliant with applicable state laws and regulations. Truss CBD brand Veryvell sparkling CBD water beverages that include a range of flavors and is currently available in Colorado.
The new Northern Colorado facility will also allow them to support future non-beverage CPG partnerships. The expected closing of the transaction is sometime in the fourth quarter, 2021.