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Canadian Company Enters US Market with Colorado Facility

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.

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