Company to Host Call Today at 5:30 P.M. (ET)
MORRISVILLE, N.C., Jan. 21, 2021 /PRNewswire/ Pyxus International, Inc. ( Pyxus or the Company ) (OTC Pink: PYYX), a global value-added agricultural company, announced today, after a strategic review by the Boards of Directors of Pyxus and certain subsidiaries, that it intends to divest its cannabis business in order to focus on its more profitable tobacco and e-liquid businesses. In addition, the Company has taken action to restructure its industrial hemp and CBD operations to minimize financial investment in that business. Our strategic decision to exit cash flow negative cannabinoid operations will allow us to reduce corporate SG&A and sharpen our focus on growing our more profitable tobacco and e-liquid businesses such that these complementary businesses can fully leverage Pyxus 145-year heritage and existing relationships, said Pieter Sikkel, President and CEO of Pyxus International. We maintain our belief that there is v