Financialnewsmedia.com News Commentary PALM BEACH, Fla., May 26, 2021 /PRNewswire/ Cannabis extracts have gained wide recognition in recent years and are expected to provide impetus
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“48North’s innovative product portfolio complements HEXO’s existing brands which, combined with their additional market penetration, will further strengthen HEXO’s position in the Canadian market,” Sebastien St-Louis, CEO and co-founder of HEXO, says in the statement.
Assuming completion of both the 48North and Zenabis Global Inc. transactions, “the combined organization would be among the leading licensed producers in terms of combined Canadian recreational sales, based on their most recent financial statements and results,” HEXO reports.
The move to absorb 48North and its topicals, bath and intimacy products helps to diversify HEXO’s existing adult-use cannabis portfolio, thereby providing “a strong base for potential future CPB partnerships in the U.S., Canada and internationally.”
Ottawa-based HEXO Corp to acquire 48North Cannabis in $50 million deal lfpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lfpress.com Daily Mail and Mail on Sunday newspapers.