HEXO Is Planning To Stop The Work Of 3 Manufacturing Sites

HEXO, formerly The Hydropothecary Corporation, grows cannabis and manufactures medicinal drugs, foods, and beverages from it under various brands. It recently expanded and became a leading marijuana company with the purchase of Redecan and 48North.  Two weeks ago, the worth of HEXO declined 33.5%, falling from $ 1.94 to its lowest ever price of $ 1.29 with a volume of $ 13.99 million, down $ 14.26 million from its current one. Since the beginning of November, the cost has jumped almost 40% to $ 1,8.

HEXO has informed that analyzing for a long time features of all manufacturing sites, it came to the conclusion that within 2-3 months it will stop the work of three objects, in order to centralize the activity (cultivation and production). This list includes: Kirkland Lake, which is located in the east of Canada and will stop production at the end of January next year; Brantford, located in the same place as the first enterprise and will also shut down on January 31; and Stellarton, based in Nova Scotia, is set to cease operations at the end of February 2022. However, the company cares about its employees, providing some jobs at one of HEXO’s main businesses, and supporting those who can’t relocate to work. The number of all employees is 155.